$0.01 EPS Expected for McDermott International (MDR) This Quarter
Analysts expect that McDermott International (NYSE:MDR) will report earnings of $0.01 per share for the current fiscal quarter, according to Zacks. Two analysts have made estimates for McDermott International’s earnings, with the lowest EPS estimate coming in at ($0.03) and the highest estimate coming in at $0.06. McDermott International posted earnings per share of $0.13 in the same quarter last year, which suggests a negative year over year growth rate of 92.3%. The firm is scheduled to report its next earnings results before the market opens on Tuesday, April 25th.
On average, analysts expect that McDermott International will report full year earnings of $0.29 per share for the current year. For the next fiscal year, analysts expect that the firm will post earnings of $0.34 per share, with EPS estimates ranging from $0.20 to $0.42. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research analysts that cover McDermott International.
McDermott International (NYSE:MDR) last issued its quarterly earnings results on Tuesday, February 21st. The oil and gas company reported $0.02 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.03. McDermott International had a net margin of 0.60% and a return on equity of 6.41%. The business had revenue of $641.80 million for the quarter, compared to analyst estimates of $614.01 million. During the same quarter in the prior year, the business posted $0.06 EPS. McDermott International’s revenue for the quarter was down 3.8% compared to the same quarter last year.
MDR has been the subject of several research reports. Zacks Investment Research downgraded shares of McDermott International from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 2nd. Scotiabank set a $9.00 price target on shares of McDermott International and gave the company a “hold” rating in a research report on Friday, March 31st. Credit Suisse Group AG upped their price target on shares of McDermott International from $5.45 to $8.80 and gave the company a “neutral” rating in a research report on Tuesday, January 31st. Finally, Citigroup Inc upped their price target on shares of McDermott International from $6.00 to $8.00 and gave the company a “neutral” rating in a research report on Monday, January 23rd. Eight research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $7.64.
A number of institutional investors have recently made changes to their positions in MDR. Dimensional Fund Advisors LP boosted its position in shares of McDermott International by 33.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 13,803,751 shares of the oil and gas company’s stock valued at $102,010,000 after buying an additional 3,430,187 shares in the last quarter. Prudential Financial Inc. boosted its position in shares of McDermott International by 202.7% in the third quarter. Prudential Financial Inc. now owns 3,103,747 shares of the oil and gas company’s stock valued at $15,550,000 after buying an additional 2,078,430 shares in the last quarter. Norges Bank purchased a new position in shares of McDermott International during the fourth quarter valued at about $14,152,000. Two Sigma Investments LP boosted its position in shares of McDermott International by 725.1% in the fourth quarter. Two Sigma Investments LP now owns 1,291,556 shares of the oil and gas company’s stock valued at $9,545,000 after buying an additional 1,135,026 shares in the last quarter. Finally, Russell Investments Group Ltd. purchased a new position in shares of McDermott International during the fourth quarter valued at about $7,141,000. 81.79% of the stock is currently owned by institutional investors.
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Shares of McDermott International (NYSE:MDR) traded up 0.16% on Monday, reaching $6.38. 1,884,174 shares of the company’s stock were exchanged. McDermott International has a one year low of $4.03 and a one year high of $8.33. The firm has a 50 day moving average of $6.59 and a 200 day moving average of $6.75. The firm has a market capitalization of $1.54 billion, a P/E ratio of 53.17 and a beta of 1.52.
About McDermott International
McDermott International, Inc is a provider of integrated engineering, procurement, construction and installation (EPCI), front-end engineering and design (FEED) and module fabrication services for upstream field developments across the world. 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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