McDermott International, Inc. (MDR) Stock Rating Reaffirmed by KeyCorp
A number of other analysts have also issued reports on MDR. BidaskClub lowered shares of McDermott International from a buy rating to a hold rating in a research report on Monday, July 24th. Scotiabank reiterated a buy rating and issued a $9.00 price target on shares of McDermott International in a report on Friday, July 28th. TheStreet upgraded shares of McDermott International from a c rating to a b- rating in a report on Tuesday, July 25th. Finally, Zacks Investment Research upgraded shares of McDermott International from a hold rating to a strong-buy rating and set a $8.50 target price on the stock in a report on Thursday, July 20th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of $8.47.
Shares of McDermott International (MDR) opened at 7.22 on Friday. The firm’s 50-day moving average price is $6.61 and its 200 day moving average price is $6.63. The stock has a market capitalization of $2.05 billion, a price-to-earnings ratio of 27.77 and a beta of 1.40. McDermott International has a 1-year low of $4.96 and a 1-year high of $8.33.
McDermott International (NYSE:MDR) last issued its earnings results on Tuesday, July 25th. The oil and gas company reported $0.13 earnings per share (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 company had revenue of $788.20 million during the quarter, compared to analysts’ expectations of $856.54 million. During the same period last year, the business posted $0.07 earnings per share. The company’s quarterly revenue was up 11.5% on a year-over-year basis. Equities research analysts expect that McDermott International will post $0.42 earnings per share for the current fiscal year.
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Several hedge funds have recently added to or reduced their stakes in MDR. BlackRock Inc. raised its holdings in shares of McDermott International by 109.1% during the second quarter. BlackRock Inc. now owns 35,201,940 shares of the oil and gas company’s stock valued at $252,397,000 after acquiring an additional 18,363,073 shares during the period. Vanguard Group Inc. increased its stake in McDermott International by 31.0% in the 2nd quarter. Vanguard Group Inc. now owns 30,112,732 shares of the oil and gas company’s stock valued at $215,909,000 after buying an additional 7,129,111 shares during the period. Dimensional Fund Advisors LP increased its stake in McDermott International by 31.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 18,213,138 shares of the oil and gas company’s stock valued at $122,938,000 after buying an additional 4,409,387 shares during the period. Thompson Siegel & Walmsley LLC acquired a new position in McDermott International in the 2nd quarter valued at approximately $17,846,000. Finally, Bank of New York Mellon Corp increased its stake in McDermott International by 138.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,939,387 shares of the oil and gas company’s stock valued at $28,246,000 after buying an additional 2,286,320 shares during the period. Institutional investors and hedge funds own 87.09% 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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