Subsea 7 (OTCMKTS:SUBCY) Shares Gap Up – Here’s Why

Subsea 7 SA (OTCMKTS:SUBCY)’s stock price gapped up before the market opened on Friday. The stock had previously closed at $33.47, but opened at $35.0960. Subsea 7 shares last traded at $35.13, with a volume of 1,869 shares trading hands.

Analyst Ratings Changes

Several analysts recently issued reports on SUBCY shares. UBS Group reissued a “buy” rating on shares of Subsea 7 in a research note on Wednesday, August 5th. Rothschild & Co Redburn upgraded Subsea 7 from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy”.

Subsea 7 Trading Up 4.8%

The company has a market cap of $10.44 billion, a PE ratio of 17.14 and a beta of 1.21. The stock has a 50 day moving average price of $34.88 and a 200 day moving average price of $34.02. The company has a current ratio of 1.04, a quick ratio of 1.02 and a debt-to-equity ratio of 0.07.

Subsea 7 (OTCMKTS:SUBCY) last announced its quarterly earnings data on Thursday, July 30th. The energy company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.64 by $0.21. Subsea 7 had a return on equity of 13.89% and a net margin of 8.15%.The business had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.91 billion. Sell-side analysts predict that Subsea 7 SA will post 2.66 EPS for the current fiscal year.

Subsea 7 Company Profile

Subsea 7 SA is a global offshore energy services company that provides engineering, procurement, construction and installation services for subsea and offshore projects. The company supports energy producers, engineering firms and governments across the development, installation, operation and decommissioning phases of offshore assets.

Its services include subsea, umbilicals, risers and flowlines (SURF); subsea production systems; offshore platform and infrastructure installation; pipeline and cable installation; inspection, repair and maintenance; and decommissioning.