FY2018 EPS Estimates for Subsea 7 SA (SUBCY) Lowered by Jefferies Financial Group
Subsea 7 SA (OTCMKTS:SUBCY) – Stock analysts at Jefferies Financial Group dropped their FY2018 earnings per share (EPS) estimates for Subsea 7 in a research note issued on Thursday, November 15th. Jefferies Financial Group analyst M. Wilson now anticipates that the energy company will post earnings per share of $0.54 for the year, down from their prior forecast of $0.55. Jefferies Financial Group currently has a “Buy” rating on the stock. Jefferies Financial Group also issued estimates for Subsea 7’s Q2 2019 earnings at $0.12 EPS, Q3 2019 earnings at $0.11 EPS, FY2019 earnings at $0.29 EPS, Q2 2020 earnings at $0.25 EPS, Q3 2020 earnings at $0.23 EPS and FY2020 earnings at $0.81 EPS.
SUBCY has been the topic of several other research reports. Zacks Investment Research raised Subsea 7 from a “hold” rating to a “buy” rating and set a $14.00 target price on the stock in a research note on Wednesday, November 7th. Morgan Stanley raised Subsea 7 from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, September 5th. Citigroup raised Subsea 7 from a “neutral” rating to a “buy” rating in a research note on Thursday, November 15th. Finally, ValuEngine downgraded Subsea 7 from a “hold” rating to a “sell” rating in a research note on Thursday, August 2nd. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $14.00.
About Subsea 7
Subsea 7 SA operates as a seabed-to-surface engineering, construction, and services contractor to the offshore energy industry worldwide. It provides subsea field development products and services, including project management, design and engineering, procurement, fabrication, survey, installation, and commissioning of production facilities on the seabed and the tie-back of its facilities to fixed or floating platforms or to the shore.
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