Subsea 7 (OTCMKTS:SUBCY) Shares Gap Down – Here’s What Happened

Subsea 7 SA (OTCMKTS:SUBCY)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $35.08, but opened at $33.4570. Subsea 7 shares last traded at $33.5966, with a volume of 1,623 shares traded.

Analysts Set New Price Targets

SUBCY has been the topic of a number of recent research reports. UBS Group reaffirmed an “overweight” rating on shares of Subsea 7 in a research report on Monday, May 11th. Zacks Research lowered Subsea 7 from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 14th. Finally, Barclays cut Subsea 7 from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 20th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold”.

Subsea 7 Price Performance

The business’s 50 day moving average is $34.52 and its two-hundred day moving average is $28.24. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.09 and a current ratio of 1.11. The firm has a market capitalization of $10.02 billion, a PE ratio of 20.41 and a beta of 1.08.

Subsea 7 (OTCMKTS:SUBCY) last posted its earnings results on Thursday, April 30th. The energy company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.03). Subsea 7 had a return on equity of 11.38% and a net margin of 6.67%.The company had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.62 billion. Equities research analysts anticipate that Subsea 7 SA will post 2.29 earnings per share for the current fiscal year.

Subsea 7 Company Profile

Subsea 7 SA is a global engineering, construction and services contractor serving the offshore energy industry. The company specializes in complex subsea infrastructure projects, offering pipeline and riser installation, umbilical and flowline deployment, and subsea tie-ins. Its fleet of specialized vessels, diving systems and remotely operated vehicles (ROVs) supports installation, inspection, maintenance and repair activities across the life cycle of offshore oil, gas and renewable energy fields.

With roots tracing back to the merger of Subsea 7 Inc and Acergy SA in 2011, Subsea 7 has built a broad international footprint.