KeyCorp Upgrades McDermott International (MDR) to Overweight

McDermott International (NYSE:MDR) was upgraded by analysts at KeyCorp to an “overweight” rating in a note issued to investors on Tuesday, The Fly reports.

A number of other research analysts have also recently issued reports on the stock. 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 reiterated a “sell” rating on shares of McDermott International in a research note on Wednesday, December 20th. UBS Group lifted their target price 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, Deutsche Bank cut their target price on shares of McDermott International from $6.50 to $5.25 and set a “hold” rating for the company in a research note on Tuesday, October 24th. Two analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company’s stock. McDermott International presently has an average rating of “Hold” and an average target price of $7.59.

McDermott International (NYSE:MDR) traded down $0.10 during midday trading on Tuesday, reaching $7.86. The company’s stock had a trading volume of 3,153,531 shares, compared to its average volume of 5,633,793. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $2,230.00, a P/E ratio of 14.83 and a beta of 1.35. McDermott International has a 12 month low of $5.56 and a 12 month high of $8.33.

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, beating analysts’ consensus estimates of $0.19 by $0.14. McDermott International had a return on equity of 9.56% and a net margin of 5.25%. The company had revenue of $958.50 million for the quarter, compared to the consensus estimate of $977.28 million. During the same period in the previous year, the business earned $0.09 earnings per share. The company’s quarterly revenue was up 71.6% on a year-over-year basis. equities analysts expect that McDermott International will post 0.52 EPS for the current year.

Hedge funds have recently bought and sold shares of the stock. Cubist Systematic Strategies LLC bought a new position in McDermott International in the 3rd quarter worth approximately $112,000. Meeder Asset Management Inc. raised its position in McDermott International by 234.0% in the 3rd quarter. Meeder Asset Management Inc. now owns 16,144 shares of the oil and gas company’s stock worth $117,000 after purchasing an additional 11,310 shares during the last quarter. Koch Industries Inc. raised its position in McDermott International by 711.3% in the 2nd quarter. Koch Industries Inc. now owns 164,323 shares of the oil and gas company’s stock worth $144,000 after purchasing an additional 144,069 shares during the last quarter. Ameritas Investment Partners Inc. raised its position in McDermott International by 19.1% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 24,867 shares of the oil and gas company’s stock worth $178,000 after purchasing an additional 3,988 shares during the last quarter. Finally, Virtu KCG Holdings LLC raised its position in McDermott International by 92.7% in the 2nd quarter. Virtu KCG Holdings LLC now owns 25,086 shares of the oil and gas company’s stock worth $180,000 after purchasing an additional 12,067 shares during the last quarter. Hedge funds and other institutional investors own 85.88% of the company’s stock.

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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.

The Fly

Analyst Recommendations for McDermott International (NYSE:MDR)

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