McDermott International Inc. (MDR) Stake Maintained by Swiss National Bank
Swiss National Bank continued to hold its position in shares of McDermott International Inc. (NYSE:MDR) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 389,800 shares of the company’s stock at the end of the second quarter. Swiss National Bank owned 0.16% of McDermott International worth $1,926,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Ladenburg Thalmann Financial Services Inc. raised its position in shares of McDermott International by 1,121.9% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 25,159 shares of the company’s stock valued at $102,000 after buying an additional 23,100 shares during the last quarter. BNP Paribas Arbitrage SA raised its stake in McDermott International by 2,863.2% in the second quarter. BNP Paribas Arbitrage SA now owns 20,683 shares of the company’s stock valued at $102,000 after buying an additional 19,985 shares in the last quarter. Atria Investments LLC acquired a new stake in McDermott International during the second quarter valued at approximately $108,000. BlackRock Inc. raised its stake in McDermott International by 7.5% in the first quarter. BlackRock Inc. now owns 31,880 shares of the company’s stock valued at $130,000 after buying an additional 2,211 shares in the last quarter. Finally, Mariner Wealth Advisors LLC acquired a new stake in McDermott International during the first quarter valued at approximately $137,000. Institutional investors and hedge funds own 78.97% of the company’s stock.
Shares of McDermott International Inc. (NYSE:MDR) traded up 1.69% during trading on Wednesday, hitting $4.80. 2,517,804 shares of the stock were exchanged. McDermott International Inc. has a 12-month low of $2.20 and a 12-month high of $6.00. The stock has a market cap of $1.15 billion, a price-to-earnings ratio of 400.00 and a beta of 1.39. The stock’s 50 day moving average is $5.07 and its 200-day moving average is $4.65.
McDermott International (NYSE:MDR) last released its earnings results on Tuesday, July 26th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.06. The business had revenue of $706.60 million for the quarter, compared to the consensus estimate of $753.43 million. McDermott International had a net margin of 0.12% and a return on equity of 6.51%. The firm’s quarterly revenue was down 32.5% compared to the same quarter last year. During the same period last year, the firm posted $0.04 earnings per share. Equities research analysts anticipate that McDermott International Inc. will post $0.13 EPS for the current year.
Several analysts have recently commented on the stock. Imperial Capital reiterated an “outperform” rating and issued a $7.00 price target on shares of McDermott International in a research report on Friday, September 9th. Zacks Investment Research upgraded shares of McDermott International from a “hold” rating to a “strong-buy” rating and set a $6.00 price target on the stock in a research report on Friday, July 29th. Citigroup Inc. increased their price target on shares of McDermott International from $5.00 to $6.00 and gave the company a “neutral” rating in a research report on Wednesday, July 27th. Credit Suisse Group AG reiterated a “hold” rating and issued a $4.41 price target on shares of McDermott International in a research report on Saturday, June 4th. Finally, Sterne Agee CRT assumed coverage on shares of McDermott International in a research report on Tuesday, May 24th. They issued a “neutral” rating on the stock. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $5.04.
About McDermott International
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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