McDermott International Inc. (NYSE:MDR) dropped 4.1% during mid-day trading on Wednesday . The company traded as low as $4.91 and last traded at $4.92, with a volume of 1,567,603 shares trading hands. The stock had previously closed at $5.13.

MDR has been the topic of a number of recent research reports. Imperial Capital reaffirmed an “outperform” rating and issued a $6.00 target price on shares of McDermott International in a research note on Wednesday, June 8th. Scotia Howard Weill raised McDermott International from a “sector perform” rating to an “outperform” rating in a research note on Monday, March 28th. Vetr lowered McDermott International from a “buy” rating to a “hold” rating and set a $4.46 price target on the stock. in a research note on Monday, May 9th. Sterne Agee CRT assumed coverage on McDermott International in a research note on Tuesday, May 24th. They set a “neutral” rating on the stock. Finally, Credit Suisse Group AG reissued a “hold” rating and set a $4.41 price target on shares of McDermott International in a research note on Saturday, June 4th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. McDermott International has an average rating of “Hold” and a consensus target price of $4.85.

The company’s market capitalization is $1.22 billion. The stock’s 50 day moving average is $4.82 and its 200 day moving average is $3.91.

McDermott International (NYSE:MDR) last posted its quarterly earnings data on Thursday, May 5th. The company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.12. During the same period in the prior year, the business posted ($0.04) EPS. The firm earned $729 million during the quarter, compared to analyst estimates of $700.70 million. The company’s revenue for the quarter was up 32.4% on a year-over-year basis. Analysts anticipate that McDermott International Inc. will post $0.06 earnings per share for the current year.

A number of institutional investors have recently bought and sold shares of MDR. Sippican Capital Advisors raised its position in McDermott International by 3.7% in the fourth quarter. Sippican Capital Advisors now owns 311,926 shares of the company’s stock worth $1,045,000 after buying an additional 11,133 shares in the last quarter. Swiss National Bank raised its stake in shares of McDermott International by 1.7% in the fourth quarter. Swiss National Bank now owns 317,500 shares of the company’s stock worth $1,064,000 after buying an additional 5,400 shares during the period. Chicago Equity Partners LLC raised its stake in shares of McDermott International by 92.4% in the fourth quarter. Chicago Equity Partners LLC now owns 339,030 shares of the company’s stock worth $1,136,000 after buying an additional 162,835 shares during the period. Rhumbline Advisers raised its stake in shares of McDermott International by 3.7% in the fourth quarter. Rhumbline Advisers now owns 346,616 shares of the company’s stock worth $1,161,000 after buying an additional 12,425 shares during the period. Finally, California State Teachers Retirement System raised its stake in shares of McDermott International by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 442,146 shares of the company’s stock worth $1,481,000 after buying an additional 7,067 shares during the period.

McDermott International, Inc is a provider of integrated engineering, procurement, construction and installation (EPCI) and module fabrication services for upstream field developments. The Company delivers fixed and floating production facilities, pipeline installations and subsea systems from concept to commissioning for complex offshore and subsea oil and gas projects.

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