McDermott International Inc (MDR) Short Interest Update

McDermott International Inc (NYSE:MDR) was the target of a large growth in short interest in the month of January. As of January 12th, there was short interest totalling 45,057,172 shares, a growth of 18.0% from the December 29th total of 38,182,481 shares. Approximately 16.0% of the shares of the company are sold short. Based on an average daily volume of 6,578,610 shares, the days-to-cover ratio is currently 6.8 days.

McDermott International (NYSE:MDR) opened at $8.66 on Monday. McDermott International has a 52-week low of $5.56 and a 52-week high of $9.07. The stock has a market capitalization of $2,460.00, a P/E ratio of 16.34 and a beta of 1.35. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.70 and a current ratio of 1.70.

McDermott International (NYSE:MDR) last announced its earnings results on Wednesday, November 1st. The oil and gas company reported $0.33 earnings per share (EPS) 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 firm had revenue of $958.50 million for the quarter, compared to analyst estimates of $977.28 million. During the same quarter last year, the firm posted $0.09 EPS. The business’s revenue was up 71.6% on a year-over-year basis. analysts expect that McDermott International will post 0.62 earnings per share for the current fiscal year.

Several large investors have recently made changes to their positions in the company. Ameriprise Financial Inc. lifted its holdings in McDermott International by 1,009.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,178,983 shares of the oil and gas company’s stock valued at $15,625,000 after purchasing an additional 1,982,529 shares in the last quarter. Nationwide Fund Advisors lifted its holdings in McDermott International by 54.1% in the 2nd quarter. Nationwide Fund Advisors now owns 590,377 shares of the oil and gas company’s stock valued at $4,233,000 after purchasing an additional 207,256 shares in the last quarter. BlackRock Inc. lifted its holdings in McDermott International by 109.1% in the 2nd quarter. BlackRock Inc. now owns 35,201,940 shares of the oil and gas company’s stock valued at $252,397,000 after purchasing an additional 18,363,073 shares in the last quarter. Amalgamated Bank lifted its holdings in McDermott International by 26.8% in the 2nd quarter. Amalgamated Bank now owns 38,508 shares of the oil and gas company’s stock valued at $276,000 after purchasing an additional 8,138 shares in the last quarter. Finally, Laurion Capital Management LP purchased a new position in McDermott International in the 2nd quarter valued at $287,000. Hedge funds and other institutional investors own 85.88% of the company’s stock.

MDR has been the topic of a number of analyst reports. 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. KeyCorp reaffirmed a “hold” rating on shares of McDermott International in a research note on Friday, November 10th. Citigroup increased their target price on McDermott International from $8.00 to $10.00 and gave the company a “neutral” rating in a research report on Thursday. Credit Suisse Group decreased their target price on McDermott International from $7.60 to $7.30 and set a “neutral” rating on the stock in a research report on Thursday, November 2nd. Finally, Scotiabank reiterated a “buy” rating and set a $9.00 target price on shares of McDermott International in a research report on Wednesday, November 1st. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $7.93.

COPYRIGHT VIOLATION NOTICE: This piece was posted by American Banking News and is the sole property of of American Banking News. If you are viewing this piece on another domain, it was stolen and reposted in violation of international trademark & copyright laws. The correct version of this piece can be viewed at https://www.americanbankingnews.com/2018/01/29/mcdermott-international-inc-mdr-short-interest-update.html.

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.

Receive News & Ratings for McDermott International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for McDermott International and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply