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.
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.
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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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