Brokerages Expect McDermott International Inc (MDR) Will Post Earnings of -$0.01 Per Share

Wall Street analysts forecast that McDermott International Inc (NYSE:MDR) will announce ($0.01) earnings per share (EPS) for the current quarter, according to Zacks. Two analysts have made estimates for McDermott International’s earnings. McDermott International posted earnings per share of $0.02 during the same quarter last year, which would indicate a negative year-over-year growth rate of 150%. The company is expected to issue its next quarterly earnings report on Tuesday, February 20th.

On average, analysts expect that McDermott International will report full year earnings of $0.53 per share for the current fiscal year, with EPS estimates ranging from $0.52 to $0.53. For the next fiscal year, analysts expect that the firm will post earnings of $0.37 per share, with EPS estimates ranging from $0.35 to $0.39. Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that that provide coverage for McDermott International.

McDermott International (NYSE:MDR) last released its quarterly earnings data on Wednesday, November 1st. The oil and gas company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.14. The firm had revenue of $958.50 million during the quarter, compared to the consensus estimate of $977.28 million. McDermott International had a net margin of 5.25% and a return on equity of 9.56%. The firm’s revenue was up 71.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.09 earnings per share.

A number of equities research analysts recently weighed in on MDR shares. Zacks Investment Research cut shares of McDermott International from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 25th. Morgan Stanley restated a “sell” rating on shares of McDermott International in a research note on Wednesday, December 20th. UBS Group lifted their price objective on shares of McDermott International from $7.00 to $7.50 and gave the company a “neutral” rating in a research note on Friday, November 3rd. ValuEngine cut shares of McDermott International from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 15th. Finally, KeyCorp restated a “hold” rating on shares of McDermott International in a research note on Friday, October 6th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. McDermott International presently has a consensus rating of “Hold” and a consensus price target of $7.59.

A number of institutional investors have recently modified their holdings of MDR. Pinebridge Investments L.P. purchased a new position in McDermott International in the 3rd quarter worth about $1,379,000. Boston Advisors LLC increased its stake in McDermott International by 14.2% in the 3rd quarter. Boston Advisors LLC now owns 750,595 shares of the oil and gas company’s stock worth $5,457,000 after purchasing an additional 93,300 shares in the last quarter. KBC Group NV purchased a new position in McDermott International in the 3rd quarter worth about $2,597,000. Profund Advisors LLC purchased a new position in McDermott International in the 2nd quarter worth about $341,000. Finally, Neuberger Berman Group LLC grew its stake in McDermott International by 21.7% during the 3rd quarter. Neuberger Berman Group LLC now owns 1,951,233 shares of the oil and gas company’s stock valued at $14,185,000 after acquiring an additional 347,995 shares in the last quarter. Hedge funds and other institutional investors own 85.88% of the company’s stock.

Shares of McDermott International (NYSE MDR) opened at $7.96 on Tuesday. McDermott International has a one year low of $5.56 and a one year high of $8.33. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.30. The firm has a market cap of $2,260.00, a PE ratio of 15.02 and a beta of 1.35.

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McDermott International Company Profile

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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