Zacks Investment Research Downgrades Subsea 7 (SUBCY) to Sell
Zacks Investment Research lowered shares of Subsea 7 (OTCMKTS:SUBCY) from a hold rating to a sell rating in a research report released on Friday morning.
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. “
Other research analysts also recently issued research reports about the company. ValuEngine upgraded Subsea 7 from a buy rating to a strong-buy rating in a research note on Friday, February 2nd. Macquarie reiterated an underperform rating on shares of Subsea 7 in a research note on Friday, January 12th.
Subsea 7 (OTCMKTS:SUBCY) last announced its quarterly earnings data on Sunday, November 12th. The energy company reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.07). Subsea 7 had a net margin of 10.29% and a return on equity of 7.82%. equities research analysts expect that Subsea 7 will post 1.43 earnings per share for the current fiscal year.
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About Subsea 7
Subsea 7 SA is a provider of seabed-to-surface engineering, construction and services contractor to the offshore energy industry. The Company’s segments include SURF and Conventional, i-Tech Services and Corporate. The SURF and Conventional segment includes Subsea Umbilicals, Risers and Flowlines (SURF) activities related to the engineering, procurement, construction (EPC) and installation of systems offshore, including the long-term Pipelay Support Vessel (PLSV) contracts in Brazil, and conventional services, including the fabrication, installation, extension and refurbishment of fixed and floating platforms and associated pipelines in shallow water environments.
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