McDermott International, Inc. (MDR) PT Raised to $7.50
McDermott International, Inc. (NYSE:MDR) had its target price hoisted by UBS AG from $7.00 to $7.50 in a research note issued on Friday, www.benzinga.com reports. The firm presently has a “neutral” rating on the oil and gas company’s stock. UBS AG’s price objective indicates a potential upside of 3.59% from the company’s previous close.
Several other analysts have also recently weighed in on the company. Zacks Investment Research upgraded McDermott International from a “hold” rating to a “strong-buy” rating and set a $8.50 price target on the stock in a report on Thursday, July 20th. BidaskClub upgraded McDermott International from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. KeyCorp restated a “hold” rating on shares of McDermott International in a report on Friday, August 25th. TheStreet raised McDermott International from a “c” rating to a “b-” rating in a research note on Tuesday, July 25th. Finally, Deutsche Bank AG cut their price objective on McDermott International from $6.50 to $5.25 and set a “hold” rating on the stock in a research note on Tuesday, October 24th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $7.94.
McDermott International (MDR) traded up $0.09 during trading hours on Friday, hitting $7.24. The stock had a trading volume of 2,955,129 shares, compared to its average volume of 2,559,960. The company has a market capitalization of $2.02 billion, a P/E ratio of 12.70 and a beta of 1.32. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.70 and a quick ratio of 1.63.
McDermott International (NYSE:MDR) last released its quarterly earnings results on Wednesday, November 1st. The oil and gas company reported $0.33 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.14. The company had revenue of $958.50 million for the quarter, compared to analysts’ expectations of $977.28 million. McDermott International had a return on equity of 9.56% and a net margin of 5.25%. The business’s quarterly revenue was up 71.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.09 earnings per share. sell-side analysts forecast that McDermott International will post 0.52 earnings per share for the current year.
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Several institutional investors have recently bought and sold shares of the stock. Private Advisor Group LLC acquired a new position in McDermott International in the second quarter valued at approximately $106,000. Everence Capital Management Inc. acquired a new position in McDermott International in the second quarter valued at approximately $116,000. HighTower Advisors LLC lifted its stake in McDermott International by 13.0% in the first quarter. HighTower Advisors LLC now owns 17,396 shares of the oil and gas company’s stock valued at $117,000 after buying an additional 2,000 shares during the period. Meeder Asset Management Inc. lifted its stake in McDermott International by 234.0% in the third quarter. Meeder Asset Management Inc. now owns 16,144 shares of the oil and gas company’s stock valued at $117,000 after buying an additional 11,310 shares during the period. Finally, World Asset Management Inc acquired a new position in McDermott International in the second quarter valued at approximately $134,000. 85.09% of the stock is currently owned by institutional investors.
About McDermott International
McDermott International, Inc is a provider of integrated engineering, procurement, construction and installation (EPCI), front-end engineering and design (FEED) and module fabrication services for upstream field developments across the world. The Company delivers fixed and floating production facilities, pipeline installations and subsea systems from concept to commissioning for offshore and subsea oil and gas projects.
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