McDermott International Inc. (MDR) Sees Unusually-High Trading Volume
McDermott International Inc. (NYSE:MDR) saw an uptick in trading volume on Tuesday . 4,110,604 shares changed hands during mid-day trading, an increase of 95% from the previous session’s volume of 2,104,871 shares.The stock last traded at $5.21 and had previously closed at $5.20.
MDR has been the topic of a number of recent analyst reports. Zacks Investment Research raised McDermott International from a “hold” rating to a “strong-buy” rating and set a $6.00 price target on the stock in a research note on Friday, July 29th. Imperial Capital increased their price target on McDermott International from $6.00 to $7.00 and gave the stock an “outperform” rating in a research note on Thursday, July 28th. Citigroup Inc. increased their price target on McDermott International from $5.00 to $6.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 27th. 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. Finally, Sterne Agee CRT initiated coverage on McDermott International in a research note on Tuesday, May 24th. They set a “neutral” rating on the stock. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Hold” and an average target price of $5.14.
The stock’s 50 day moving average is $5.04 and its 200 day moving average is $4.45. The company has a market capitalization of $1.26 billion and a PE ratio of 435.00.
McDermott International (NYSE:MDR) last posted its quarterly earnings results on Tuesday, July 26th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.06. During the same quarter last year, the firm posted $0.04 EPS. The business earned $706.60 million during the quarter, compared to analyst estimates of $753.43 million. The company’s quarterly revenue was down 32.5% compared to the same quarter last year. Analysts anticipate that McDermott International Inc. will post $0.13 earnings per share for the current year.
An institutional investor recently raised its position in McDermott International stock. Swiss National Bank boosted its position in McDermott International Inc. (NYSE:MDR) by 1.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 317,500 shares of the company’s stock after buying an additional 5,400 shares during the period. Swiss National Bank owned 0.13% of McDermott International worth $1,064,000 as of its most recent filing with the SEC.
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.