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

Subsea 7 SA (OTCMKTS:SUBCY)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $33.00, but opened at $34.6475. Subsea 7 shares last traded at $34.6475, with a volume of 715 shares traded.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on SUBCY shares. UBS Group reaffirmed a “buy” rating on shares of Subsea 7 in a research note on Wednesday, August 5th. Rothschild & Co Redburn raised shares of Subsea 7 from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy”.

Subsea 7 Stock Up 3.1%

The company has a quick ratio of 1.02, a current ratio of 1.04 and a debt-to-equity ratio of 0.07. The company has a 50-day simple moving average of $34.78 and a two-hundred day simple moving average of $33.26. The stock has a market cap of $10.33 billion, a P/E ratio of 16.96 and a beta of 1.12.

Subsea 7 (OTCMKTS:SUBCY) last released its quarterly earnings data on Thursday, July 30th. The energy company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.21. Subsea 7 had a return on equity of 13.89% and a net margin of 8.15%.The firm had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.91 billion. On average, equities analysts forecast that Subsea 7 SA will post 2.66 EPS for the current year.

Subsea 7 Company Profile

Subsea 7 SA is a global offshore energy services company that designs, engineers and delivers complex projects for the energy industry. Its work spans offshore oil and gas, offshore wind and other emerging energy sectors, with services covering project management, engineering, procurement, construction and installation.

The company provides subsea, umbilicals, risers and flowlines (SURF) services; offshore pipeline and infrastructure installation; subsea inspection, maintenance and repair; and offshore renewable-energy solutions.