UBS AG Increases McDermott International, Inc. (MDR) Price Target to $7.50
McDermott International, Inc. (NYSE:MDR) had its price objective upped by UBS AG from $7.00 to $7.50 in a report issued on Friday morning, www.benzinga.com reports. They currently have a neutral rating on the oil and gas company’s stock.
A number of other research firms also recently issued reports on MDR. Zacks Investment Research upgraded McDermott International from a hold rating to a strong-buy rating and set a $8.50 price target for the company in a research note on Thursday, July 20th. BidaskClub upgraded McDermott International from a hold rating to a buy rating in a research note on Thursday, July 6th. KeyCorp reiterated a hold rating on shares of McDermott International in a research note on Friday, October 6th. Scotiabank reiterated a buy rating and set a $9.00 price objective on shares of McDermott International in a research note on Friday, July 28th. Finally, TheStreet upgraded McDermott International from a c rating to a b- rating in a research note on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. McDermott International has an average rating of Hold and a consensus target price of $7.94.
Shares of McDermott International (NYSE MDR) opened at $7.67 on Friday. The stock has a market capitalization of $2,056.22, a PE ratio of 12.93 and a beta of 1.32. McDermott International has a 52 week low of $4.96 and a 52 week high of $8.33. 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 (NYSE:MDR) last released its quarterly earnings results on Wednesday, November 1st. The oil and gas company reported $0.33 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.14. The business 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%. The business’s quarterly revenue was up 71.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.09 EPS. equities research analysts anticipate that McDermott International will post 0.52 earnings per share for the current year.
TRADEMARK VIOLATION NOTICE: “UBS AG Increases McDermott International, Inc. (MDR) Price Target to $7.50” was first reported by Watch List News and is the sole property of of Watch List News. If you are viewing this piece of content on another publication, it was illegally copied and reposted in violation of US & international copyright and trademark law. The legal version of this piece of content can be viewed at https://www.watchlistnews.com/ubs-ag-increases-mcdermott-international-inc-mdr-price-target-to-7-50/1685031.html.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. lifted its holdings in McDermott International by 109.1% in the 2nd quarter. BlackRock Inc. now owns 35,201,940 shares of the oil and gas company’s stock worth $252,397,000 after purchasing an additional 18,363,073 shares in the last quarter. Vanguard Group Inc. lifted its holdings in McDermott International by 31.0% in the 2nd 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 lifted its holdings in McDermott International by 14.9% in the 2nd 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. LSV Asset Management lifted its holdings in McDermott International by 9.5% in the 2nd quarter. LSV Asset Management now owns 14,466,996 shares of the oil and gas company’s stock worth $103,728,000 after purchasing an additional 1,253,200 shares in the last quarter. Finally, State Street Corp lifted its holdings in McDermott International by 37.3% in the 2nd quarter. State Street Corp now owns 8,384,938 shares of the oil and gas company’s stock worth $60,118,000 after purchasing an additional 2,277,274 shares in the last quarter. 85.42% of the stock is currently owned by institutional investors.
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.
Receive News & Ratings for McDermott International Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for McDermott International Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.