Equities analysts expect that McDermott International Inc (NYSE:MDR) will report sales of $2.50 billion for the current fiscal quarter, according to Zacks. Two analysts have made estimates for McDermott International’s earnings. The lowest sales estimate is $2.46 billion and the highest is $2.54 billion. McDermott International posted sales of $958.53 million during the same quarter last year, which suggests a positive year over year growth rate of 160.8%. The company is scheduled to report its next earnings report on Wednesday, November 7th.

On average, analysts expect that McDermott International will report full-year sales of $7.31 billion for the current year, with estimates ranging from $7.30 billion to $7.33 billion. For the next year, analysts anticipate that the business will report sales of $9.77 billion per share, with estimates ranging from $9.75 billion to $9.79 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover McDermott International.

McDermott International (NYSE:MDR) last issued its earnings results on Tuesday, July 31st. The oil and gas company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.07. The company had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.98 billion. McDermott International had a net margin of 5.04% and a return on equity of 10.38%. The company’s revenue for the quarter was up 119.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.13 EPS.

Several research firms recently weighed in on MDR. Zacks Investment Research lowered shares of McDermott International from a “buy” rating to a “hold” rating in a research note on Tuesday, June 26th. ValuEngine lowered shares of McDermott International from a “sell” rating to a “strong sell” rating in a research note on Wednesday, July 4th. KeyCorp reduced their price objective on shares of McDermott International from $42.00 to $38.00 and set a “$17.66” rating on the stock in a research note on Monday, July 23rd. Finally, Credit Suisse Group lifted their price objective on shares of McDermott International from $21.00 to $25.00 and gave the stock a “neutral” rating in a research note on Thursday, May 24th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. McDermott International has an average rating of “Hold” and an average target price of $26.18.

Shares of NYSE MDR traded down $0.07 during mid-day trading on Wednesday, hitting $17.68. The company’s stock had a trading volume of 1,113,376 shares, compared to its average volume of 1,526,296. McDermott International has a one year low of $16.14 and a one year high of $27.21. The firm has a market capitalization of $3.20 billion, a PE ratio of 9.21 and a beta of 1.76. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.96.

In related news, SVP Scott Munro sold 2,250 shares of McDermott International stock in a transaction that occurred on Monday, July 16th. The shares were sold at an average price of $17.87, for a total transaction of $40,207.50. Following the transaction, the senior vice president now owns 35,270 shares of the company’s stock, valued at approximately $630,274.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.30% of the stock is owned by company insiders.

A number of hedge funds have recently made changes to their positions in the business. BlackRock Inc. raised its holdings in McDermott International by 0.7% during the 1st quarter. BlackRock Inc. now owns 36,989,181 shares of the oil and gas company’s stock worth $225,266,000 after buying an additional 246,541 shares during the period. Franklin Resources Inc. raised its holdings in McDermott International by 395.7% during the 1st quarter. Franklin Resources Inc. now owns 10,997,297 shares of the oil and gas company’s stock worth $66,973,000 after buying an additional 8,778,897 shares during the period. Northern Trust Corp raised its holdings in McDermott International by 15.7% during the 1st quarter. Northern Trust Corp now owns 7,723,217 shares of the oil and gas company’s stock worth $47,035,000 after buying an additional 1,050,039 shares during the period. Renaissance Technologies LLC acquired a new stake in McDermott International during the 2nd quarter worth approximately $37,690,000. Finally, Van ECK Associates Corp raised its holdings in McDermott International by 9.6% during the 1st quarter. Van ECK Associates Corp now owns 4,798,650 shares of the oil and gas company’s stock worth $29,224,000 after buying an additional 419,530 shares during the period. Hedge funds and other institutional investors own 87.85% of the company’s stock.

About McDermott International

McDermott International, Inc provides engineering, procurement, construction and installation, front-end engineering and design, and module fabrication services for upstream field developments. It operates through three segments: the Americas, Europe and Africa; the Middle East; and Asia. 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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