McDermott International, Inc. (NYSE:MDR) Cut to “Sell” at BidaskClub
McDermott International, Inc. (NYSE:MDR) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Thursday.
A number of other equities research analysts have also recently commented on the company. Scotiabank restated a “buy” rating and set a $9.00 target price on shares of McDermott International in a research report on Friday, July 28th. TheStreet upgraded McDermott International from a “c” rating to a “b-” rating in a report on Tuesday, July 25th. Zacks Investment Research upgraded McDermott International from a “hold” rating to a “strong-buy” rating and set a $8.50 price objective on the stock in a report on Thursday, July 20th. ValuEngine cut McDermott International from a “buy” rating to a “hold” rating in a report on Tuesday, June 6th. Finally, Scotia Howard Weill upgraded McDermott International from a “sector perform” rating to a “sector outperform” rating in a report on Thursday, May 25th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $8.29.
McDermott International (NYSE MDR) traded up 0.75% during mid-day trading on Thursday, reaching $6.69. The company’s stock had a trading volume of 2,173,110 shares. McDermott International has a one year low of $4.41 and a one year high of $8.33. The company has a market capitalization of $1.90 billion, a price-to-earnings ratio of 25.73 and a beta of 1.37. The stock has a 50-day moving average price of $7.01 and a 200-day moving average price of $6.94.
McDermott International (NYSE:MDR) last posted its earnings results on Tuesday, July 25th. The oil and gas company reported $0.13 EPS for the quarter, missing the Zacks’ consensus estimate of $0.16 by $0.03. McDermott International had a net margin of 2.95% and a return on equity of 5.55%. The business had revenue of $788.20 million for the quarter, compared to analyst estimates of $856.54 million. During the same quarter last year, the business earned $0.07 earnings per share. McDermott International’s revenue was up 11.5% on a year-over-year basis. Equities research analysts forecast that McDermott International will post $0.41 EPS for the current year.
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Several hedge funds and other institutional investors have recently modified their holdings of the company. LSV Asset Management boosted its position in shares of McDermott International by 57.5% in the first quarter. LSV Asset Management now owns 13,213,796 shares of the oil and gas company’s stock valued at $89,193,000 after buying an additional 4,822,700 shares in the last quarter. Great West Life Assurance Co. Can boosted its position in shares of McDermott International by 13.1% in the first quarter. Great West Life Assurance Co. Can now owns 176,532 shares of the oil and gas company’s stock valued at $1,192,000 after buying an additional 20,500 shares in the last quarter. Advisory Services Network LLC bought a new position in shares of McDermott International during the first quarter valued at $165,000. Tocqueville Asset Management L.P. boosted its position in shares of McDermott International by 325.2% in the first quarter. Tocqueville Asset Management L.P. now owns 228,815 shares of the oil and gas company’s stock valued at $1,545,000 after buying an additional 175,000 shares in the last quarter. Finally, Hennessy Advisors Inc. bought a new position in shares of McDermott International during the first quarter valued at $3,312,000. Institutional investors and hedge funds own 73.71% of the company’s stock.
McDermott International Company Profile
McDermott International, Inc is a provider of integrated engineering, procurement, construction and installation (EPCI), front-end engineering and design (FEED) and module fabrication services for upstream field developments across the world. The Company delivers fixed and floating production facilities, pipeline installations and subsea systems from concept to commissioning for offshore and subsea oil and gas projects.
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