McDermott International Inc (MDR) Expected to Announce Earnings of $0.03 Per Share

Brokerages expect that McDermott International Inc (NYSE:MDR) will post $0.03 earnings per share for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for McDermott International’s earnings, with the lowest EPS estimate coming in at ($0.01) and the highest estimate coming in at $0.07. McDermott International reported earnings of $0.02 per share during the same quarter last year, which would indicate a positive year over year growth rate of 50%. The firm is scheduled to report its next earnings results on Tuesday, February 20th.

According to Zacks, analysts expect that McDermott International will report full-year earnings of $0.57 per share for the current financial year, with EPS estimates ranging from $0.53 to $0.61. For the next fiscal year, analysts forecast that the business will post earnings of $0.47 per share. Zacks Investment Research’s EPS averages are a mean average based on a survey of analysts that cover McDermott International.

MDR has been the topic of a number of recent research reports. ValuEngine lowered McDermott International from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 15th. Scotiabank reissued a “buy” rating and set a $9.00 price target on shares of McDermott International in a research note on Wednesday, November 1st. Zacks Investment Research raised McDermott International from a “sell” rating to a “hold” rating in a research note on Monday, January 15th. KeyCorp reissued a “hold” rating on shares of McDermott International in a research note on Friday, November 10th. Finally, Deutsche Bank cut their price target on McDermott International from $6.50 to $5.25 and set a “hold” rating on the stock in a research note on Tuesday, October 24th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $7.93.

Institutional investors have recently bought and sold shares of the stock. Cubist Systematic Strategies LLC acquired a new position in McDermott International in the third quarter valued at approximately $112,000. Meeder Asset Management Inc. lifted its stake in McDermott International by 234.0% in the third quarter. Meeder Asset Management Inc. now owns 16,144 shares of the oil and gas company’s stock valued at $117,000 after buying an additional 11,310 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in McDermott International by 93.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,937 shares of the oil and gas company’s stock valued at $111,000 after buying an additional 8,176 shares during the period. Ameritas Investment Partners Inc. lifted its stake in McDermott International by 19.1% in the second quarter. Ameritas Investment Partners Inc. now owns 24,867 shares of the oil and gas company’s stock valued at $178,000 after buying an additional 3,988 shares during the period. Finally, Bank of Stockton acquired a new position in McDermott International in the fourth quarter valued at approximately $163,000. 85.23% of the stock is currently owned by institutional investors.

Shares of McDermott International (MDR) opened at $7.65 on Friday. McDermott International has a 12 month low of $5.56 and a 12 month high of $9.07. The company has a market capitalization of $2,170.00, a PE ratio of 14.43 and a beta of 1.58. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.70 and a current ratio of 1.70.

COPYRIGHT VIOLATION WARNING: “McDermott International Inc (MDR) Expected to Announce Earnings of $0.03 Per Share” was reported by American Banking News and is the property of of American Banking News. If you are accessing this article on another publication, it was copied illegally and republished in violation of US and international copyright and trademark legislation. The legal version of this article can be viewed at https://www.americanbankingnews.com/2018/02/09/mcdermott-international-inc-mdr-expected-to-announce-earnings-of-0-03-per-share.html.

About McDermott International

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.

Get a free copy of the Zacks research report on McDermott International (MDR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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