McDermott International Inc. (NYSE:MDR) shares dropped 2.8% on Thursday . The company traded as low as $4.83 and last traded at $4.85, with a volume of 1,134,700 shares changing hands. The stock had previously closed at $4.99.

MDR has been the topic of a number of recent research reports. Howard Weil raised McDermott International from a “sector perform” rating to a “sector outperform” rating in a report on Monday, March 28th. Scotiabank raised McDermott International from a “sector perform” rating to an “outperform” rating in a report on Monday, March 28th. Scotia Howard Weill raised McDermott International from a “sector perform” rating to an “outperform” rating in a report on Monday, March 28th. Credit Suisse Group AG downgraded McDermott International from an “outperform” rating to a “neutral” rating and increased their target price for the company from $3.50 to $4.04 in a report on Monday, April 4th. Finally, Deutsche Bank AG reissued a “hold” rating and issued a $4.00 target price (down previously from $5.00) on shares of McDermott International in a report on Wednesday, April 6th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $4.85.

The stock has a 50 day moving average of $4.85 and a 200-day moving average of $3.96. The firm’s market capitalization is $1.16 billion.

McDermott International (NYSE:MDR) last released its quarterly earnings data on Thursday, May 5th. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.12. During the same quarter last year, the company earned ($0.04) EPS. The business had revenue of $729 million for the quarter, compared to analyst estimates of $700.70 million. McDermott International’s revenue was up 32.4% compared to the same quarter last year. On average, equities analysts forecast that McDermott International Inc. will post $0.06 EPS for the current fiscal year.

A number of large investors have added to or reduced their stakes in the company. Morgan Stanley raised its stake in McDermott International by 78.8% in the fourth quarter. Morgan Stanley now owns 2,939,639 shares of the company’s stock valued at $9,848,000 after buying an additional 1,295,299 shares during the period. Systematic Financial Management LP acquired a new stake in McDermott International during the fourth quarter valued at $1,552,000. Dimensional Fund Advisors LP raised its stake in McDermott International by 7.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,234,414 shares of the company’s stock valued at $20,885,000 after buying an additional 436,484 shares during the period. Russell Frank Co raised its stake in McDermott International by 5.5% in the fourth quarter. Russell Frank Co now owns 2,067,006 shares of the company’s stock valued at $6,862,000 after buying an additional 107,964 shares during the period. Finally, Pekin Singer Strauss Asset Management IL raised its stake in McDermott International by 6.8% in the fourth quarter. Pekin Singer Strauss Asset Management IL now owns 1,479,205 shares of the company’s stock valued at $4,955,000 after buying an additional 93,600 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.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.