McDermott International, Inc. (MDR) Stock Rating Reaffirmed by KeyCorp
McDermott International, Inc. (NYSE:MDR)‘s stock had its “hold” rating reissued by KeyCorp in a report issued on Friday.
A number of other equities research analysts also recently issued reports on MDR. Scotiabank reiterated a “buy” rating and set a $9.00 price target on shares of McDermott International in a research report on Friday, July 28th. BidaskClub downgraded shares of McDermott International from a “hold” rating to a “sell” rating in a research report on Thursday, August 3rd. TheStreet upgraded shares of McDermott International from a “c” rating to a “b-” rating in a research report on Tuesday, July 25th. Finally, Zacks Investment Research upgraded shares of McDermott International from a “hold” rating to a “strong-buy” rating and set a $8.50 price target for the company in a research report on Thursday, July 20th. One research analyst has rated the stock with a sell rating, five have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $8.47.
McDermott International (NYSE MDR) opened at 7.19 on Friday. McDermott International has a one year low of $4.96 and a one year high of $8.33. The firm has a market cap of $2.04 billion, a PE ratio of 27.65 and a beta of 1.41. The firm’s 50 day moving average price is $6.57 and its 200-day moving average price is $6.62.
McDermott International (NYSE:MDR) last posted its quarterly earnings results on Tuesday, July 25th. The oil and gas company reported $0.13 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.16 by ($0.03). McDermott International had a net margin of 2.95% and a return on equity of 5.55%. The company had revenue of $788.20 million for the quarter, compared to analyst estimates of $856.54 million. During the same quarter in the previous year, the business posted $0.07 earnings per share. McDermott International’s revenue was up 11.5% on a year-over-year basis. Equities analysts predict that McDermott International will post $0.42 EPS for the current fiscal year.
Several institutional investors have recently modified their holdings of the stock. Hillcrest Asset Management LLC acquired a new position in shares of McDermott International during the 2nd quarter worth approximately $6,178,000. Koch Industries Inc. raised its position in shares of McDermott International by 711.3% during the 2nd quarter. Koch Industries Inc. now owns 164,323 shares of the oil and gas company’s stock worth $144,000 after purchasing an additional 144,069 shares during the last quarter. Piedmont Investment Advisors LLC acquired a new position in shares of McDermott International during the 2nd quarter worth approximately $1,620,000. Ameritas Investment Partners Inc. raised its position in shares of McDermott International by 19.1% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 24,867 shares of the oil and gas company’s stock worth $178,000 after purchasing an additional 3,988 shares during the last quarter. Finally, California State Teachers Retirement System raised its position in shares of McDermott International by 5.4% during the 2nd quarter. California State Teachers Retirement System now owns 501,858 shares of the oil and gas company’s stock worth $3,598,000 after purchasing an additional 25,647 shares during the last quarter. Hedge funds and other institutional investors own 87.09% 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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