Credit Suisse Group Trims McDermott International, Inc. (MDR) Target Price to $7.30
McDermott International, Inc. (NYSE:MDR) had its target price reduced by Credit Suisse Group from $7.60 to $7.30 in a research note issued to investors on Thursday. Credit Suisse Group currently has a neutral rating on the oil and gas company’s stock.
Other analysts also recently issued reports about the company. TheStreet raised McDermott International from a c rating to a b- rating in a report on Tuesday, July 25th. Scotiabank reaffirmed a buy rating and set a $9.00 price target on shares of McDermott International in a report on Wednesday. BidaskClub raised McDermott International from a hold rating to a buy rating in a report on Thursday, July 6th. Deutsche Bank AG decreased their price target on McDermott International from $6.50 to $5.25 and set a hold rating for the company in a report on Tuesday, October 24th. Finally, KeyCorp reaffirmed a hold rating on shares of McDermott International in a report on Friday, October 6th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company’s stock. McDermott International presently has a consensus rating of Hold and an average target price of $7.94.
McDermott International (NYSE MDR) traded up $0.13 during trading hours on Thursday, reaching $7.24. The company had a trading volume of 2,950,643 shares, compared to its average volume of 2,559,960. The stock has a market capitalization of $2,056.23, a price-to-earnings ratio of 12.93 and a beta of 1.32. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.63 and a current ratio of 1.70. McDermott International has a 52-week low of $4.96 and a 52-week high of $8.33.
McDermott International (NYSE:MDR) last announced its quarterly earnings results on Wednesday, November 1st. The oil and gas company reported $0.33 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.14. The company had revenue of $958.50 million during the quarter, compared to the consensus estimate of $977.28 million. McDermott International had a return on equity of 9.56% and a net margin of 5.25%. McDermott International’s revenue for the quarter was up 71.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.09 EPS. equities analysts anticipate that McDermott International will post 0.52 earnings per share for the current fiscal year.
Several institutional investors and hedge funds have recently bought and sold shares of MDR. Private Advisor Group LLC acquired a new stake in shares of McDermott International during the second quarter worth about $106,000. Everence Capital Management Inc. acquired a new stake in shares of McDermott International during the second quarter worth about $116,000. HighTower Advisors LLC increased its position in shares of McDermott International by 13.0% during the first quarter. HighTower Advisors LLC now owns 17,396 shares of the oil and gas company’s stock worth $117,000 after purchasing an additional 2,000 shares in the last quarter. Meeder Asset Management Inc. increased its position in shares of McDermott International by 234.0% during the third quarter. Meeder Asset Management Inc. now owns 16,144 shares of the oil and gas company’s stock worth $117,000 after purchasing an additional 11,310 shares in the last quarter. Finally, World Asset Management Inc acquired a new stake in shares of McDermott International during the second quarter worth about $134,000. Institutional investors and hedge funds own 85.09% of the company’s stock.
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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