Subsea 7 (OTCMKTS:SUBCY) Shares Gap Down – What’s Next?

Shares of Subsea 7 SA (OTCMKTS:SUBCY) gapped down before the market opened on Wednesday. The stock had previously closed at $35.66, but opened at $34.28. Subsea 7 shares last traded at $34.27, with a volume of 2,264 shares trading hands.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on SUBCY. 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 report on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Subsea 7 presently has a consensus rating of “Moderate Buy”.

Subsea 7 Stock Down 2.6%

The business’s 50 day moving average is $35.02 and its 200 day moving average is $34.39. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.02 and a current ratio of 1.04. The stock has a market cap of $10.13 billion, a price-to-earnings ratio of 16.64 and a beta of 1.21.

Subsea 7 (OTCMKTS:SUBCY) last announced its earnings results on Thursday, July 30th. The energy company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.21. Subsea 7 had a net margin of 8.15% and a return on equity of 13.89%. The company had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.91 billion. Equities analysts expect that Subsea 7 SA will post 2.66 earnings per share for the current year.

About Subsea 7

Subsea 7 SA is a global offshore energy services company that delivers engineering, procurement, construction, installation and commissioning solutions for subsea and offshore projects. The company works with energy producers and contractors across the development, construction and operation of offshore assets.

Its services include subsea, umbilicals, risers and flowlines (SURF); conventional offshore installation; subsea inspection, maintenance and repair; and project management and engineering.