Subsea 7 SA (SUBCY) Lowered to Hold at Zacks Investment Research
According to Zacks, “Subsea 7 S.A., formerly known as Acergy S.A., operates as an engineering, construction and services contractor to the offshore energy industry worldwide. The Company is engaged in the design, fabrication, installation and commissioning of seabed-to-surface projects and its scope of operations include Subsea, Umbilical, Riser and Flowline (SURF) systems; Life-of-Field; Conventional Services and Renewables. Services offered by the Company ranges from engineering and construction for subsea field developments, pipeline and riser systems and associated services, inspection, maintenance and repair, integrity management and remote intervention, fabrication and installation of fixed platforms and associated pipelines, as well as hook-up and platform refurbishment. Subsea 7 S.A. is based in London, United Kingdom. “
A number of other equities research analysts have also recently commented on SUBCY. Citigroup Inc. cut Subsea 7 SA from a neutral rating to a sell rating in a research note on Friday, November 11th. Credit Suisse Group assumed coverage on Subsea 7 SA in a research note on Monday, September 19th. They issued an underperform rating on the stock. Finally, Jefferies Group cut Subsea 7 SA from a buy rating to a hold rating in a research note on Thursday, October 20th. Four research analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. The company has a consensus rating of Sell and a consensus price target of $49.00.
Shares of Subsea 7 SA (NASDAQ:SUBCY) traded up 0.375% during midday trading on Thursday, reaching $12.838. The company had a trading volume of 8,978 shares. The stock has a market capitalization of $4.18 billion and a PE ratio of 458.500. The company’s 50-day moving average is $12.42 and its 200-day moving average is $11.04. Subsea 7 SA has a 1-year low of $4.86 and a 1-year high of $13.22.
About Subsea 7 SA
Subsea 7 SA is a provider of seabed-to-surface engineering, construction and offshore installation services to the energy industry. The Company’s operating segments include Northern Hemisphere and Life of Field, Southern Hemisphere and Global Projects, and Corporate. The Company provides products and services for subsea field development, including project management, design and engineering, procurement, fabrication, survey, installation and commissioning of production facilities on the seabed and the tie-back of these facilities to fixed or floating platforms or to the shore.
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