McDermott International Inc. (MDR) Sees Unusually-High Trading Volume
Shares of McDermott International Inc. (NYSE:MDR) saw unusually-strong trading volume on Tuesday . Approximately 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.
Several analysts have recently issued reports on MDR shares. Vetr lowered shares of McDermott International from a “buy” rating to a “hold” rating and set a $4.46 price target on the stock. in a research report on Monday, May 9th. Zacks Investment Research raised shares of McDermott International from a “hold” rating to a “strong-buy” rating and set a $5.00 price target on the stock in a research report on Wednesday, May 11th. Sterne Agee CRT began coverage on shares of McDermott International in a research report on Tuesday, May 24th. They issued a “neutral” rating on the stock. Credit Suisse Group AG reaffirmed a “hold” rating and set a $4.41 price objective on shares of McDermott International in a research note on Saturday, June 4th. Finally, Imperial Capital reaffirmed an “outperform” rating and set a $6.00 price objective on shares of McDermott International in a research note on Wednesday, June 8th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $5.14.
The stock has a market capitalization of $1.22 billion and a P/E ratio of 424.17. The company’s 50 day moving average price is $5.05 and its 200-day moving average price is $4.45.
McDermott International (NYSE:MDR) last released its earnings results on Tuesday, July 26th. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.06. The firm had revenue of $706.60 million for the quarter, compared to the consensus estimate of $753.43 million. During the same quarter in the previous year, the business posted $0.04 EPS. McDermott International’s revenue was down 32.5% on a year-over-year basis. Equities research analysts anticipate that McDermott International Inc. will post $0.13 earnings per share for the current fiscal year.
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.