Analysts’ Recent Ratings Changes for McDermott International (MDR)
A number of firms have modified their ratings and price targets on shares of McDermott International (NYSE: MDR) recently:
- 11/10/2017 – McDermott International had its “hold” rating reaffirmed by analysts at KeyCorp.
- 11/6/2017 – McDermott International was upgraded by analysts at ValuEngine from a “buy” rating to a “strong-buy” rating.
- 11/3/2017 – McDermott International was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “We are upgrading our investment thesis on McDermott to ‘Hold’ following its strong Q3 results on the back of robust project execution. The company's revenues in the quarter rose about 72% year-over year on increased activity levels. We appreciate the company’s broad product portfolio, diversified geographical footprint, good market position and strong relationship with national oil companies. McDermott’s healthy balance sheet provides it with ample financial flexibility amid the volatile industry environment to tap on the growth opportunities. All these positives are also reflected in MDR’s impressive earnings surprise history and strong price performance. However, with a considerable portion of MDR’s current backlog associated with offshore operations, it remains susceptible to the pricing weakness. Consequently, until the external environment challenges subside, we see limited upside for MDR shares.”
- 11/3/2017 – McDermott International had its price target raised by analysts at UBS AG from $7.00 to $7.50. They now have a “neutral” rating on the stock.
- 11/2/2017 – McDermott International had its price target lowered by analysts at Credit Suisse Group from $7.60 to $7.30. They now have a “neutral” rating on the stock.
- 11/1/2017 – McDermott International had its “buy” rating reaffirmed by analysts at Scotiabank. They now have a $9.00 price target on the stock.
- 10/25/2017 – McDermott International was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “strong sell” rating. According to Zacks, “Weak commodity prices have prompted upstream firms to lower capital spending, which has resulted in lesser work for the likes of McDermott. With a considerable portion of MDR’s current backlog associated with offshore operations, it remains more susceptible to the pricing weakness, thus becoming uneconomical. We expect McDermott shares to remain soft until oil prices rebound sufficiently, as deepwater/ultra-deepwater drilling – with its associated risks and steep costs – require a far higher oil price than what is prevailing currently. Since crude prices are expected to remain low well into 2017, cash flows could see a significant decline in the coming months. We are also concerned with the company’s increased spending. As such, McDermott is anticipated to face near-term headwinds and thus we take a bearish stance on the stock.”
- 10/24/2017 – McDermott International had its price target lowered by analysts at Deutsche Bank AG from $6.50 to $5.25. They now have a “hold” rating on the stock.
- 10/6/2017 – McDermott International had its “hold” rating reaffirmed by analysts at KeyCorp.
Shares of McDermott International, Inc. (NYSE MDR) opened at $7.50 on Tuesday. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.30. McDermott International, Inc. has a 1-year low of $5.56 and a 1-year high of $8.33. The firm has a market cap of $2,169.83, a P/E ratio of 13.64 and a beta of 1.32.
McDermott International (NYSE:MDR) last released its quarterly earnings data on Wednesday, November 1st. The oil and gas company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.14. McDermott International had a net margin of 5.25% and a return on equity of 9.56%. The company had revenue of $958.50 million for the quarter, compared to analysts’ expectations of $977.28 million. During the same quarter last year, the company earned $0.09 earnings per share. The firm’s revenue for the quarter was up 71.6% on a year-over-year basis. sell-side analysts expect that McDermott International, Inc. will post 0.52 EPS for the current year.
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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