ValuEngine upgraded shares of McDermott International, Inc. (NYSE:MDR) from a buy rating to a strong-buy rating in a research note issued to investors on Monday morning.

MDR has been the topic of several other reports. Credit Suisse Group cut their target price on shares of McDermott International from $7.60 to $7.30 and set a neutral rating on the stock in a research note on Thursday, November 2nd. Zacks Investment Research raised shares of McDermott International from a hold rating to a strong-buy rating and set a $8.50 target price on the stock in a research note on Thursday, July 20th. BidaskClub downgraded shares of McDermott International from a sell rating to a strong sell rating in a research note on Thursday, August 17th. Deutsche Bank AG cut their target price on shares of McDermott International from $6.50 to $5.25 and set a hold rating on the stock in a research note on Tuesday, October 24th. Finally, KeyCorp reissued a hold rating on shares of McDermott International in a research note on Friday, October 6th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. McDermott International currently has a consensus rating of Hold and a consensus target price of $7.94.

Shares of McDermott International (NYSE MDR) traded down $0.06 during trading hours on Monday, reaching $7.60. 965,694 shares of the company’s stock traded hands, compared to its average volume of 3,193,100. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.70 and a current ratio of 1.70. McDermott International has a 52 week low of $5.25 and a 52 week high of $8.33. The firm has a market cap of $2,113.02, a P/E ratio of 13.29 and a beta of 1.32.

McDermott International (NYSE:MDR) last announced its earnings results on Wednesday, November 1st. The oil and gas company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.14. McDermott International had a net margin of 5.25% and a return on equity of 9.56%. The company had revenue of $958.50 million for the quarter, compared to the consensus estimate of $977.28 million. During the same period in the previous year, the business earned $0.09 EPS. The company’s revenue was up 71.6% on a year-over-year basis. analysts expect that McDermott International will post 0.52 EPS for the current year.

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Several hedge funds and other institutional investors have recently bought and sold shares of MDR. BlackRock Inc. increased its stake in shares of McDermott International by 109.1% in the second quarter. BlackRock Inc. now owns 35,201,940 shares of the oil and gas company’s stock worth $252,397,000 after acquiring an additional 18,363,073 shares during the last quarter. Vanguard Group Inc. boosted its holdings in McDermott International by 31.0% in the second quarter. Vanguard Group Inc. now owns 30,112,732 shares of the oil and gas company’s stock worth $215,909,000 after purchasing an additional 7,129,111 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in McDermott International by 14.9% in the second quarter. Dimensional Fund Advisors LP now owns 20,930,740 shares of the oil and gas company’s stock worth $150,072,000 after purchasing an additional 2,717,602 shares in the last quarter. Thompson Siegel & Walmsley LLC bought a new stake in McDermott International in the second quarter worth $17,846,000. Finally, Bank of New York Mellon Corp boosted its holdings in McDermott International by 138.3% in the second quarter. Bank of New York Mellon Corp now owns 3,939,387 shares of the oil and gas company’s stock worth $28,246,000 after purchasing an additional 2,286,320 shares in the last quarter. 85.42% of the stock is currently owned by institutional investors and hedge funds.

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for McDermott International (NYSE:MDR)

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