Shares of McDermott International Inc. (NYSE:MDR) have been assigned a consensus rating of “Hold” from the sixteen analysts that are currently covering the company. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $4.92.
Several brokerages have commented on MDR. Imperial Capital reiterated an “outperform” rating and issued a $7.00 price target on shares of McDermott International in a research report on Friday, September 9th. Zacks Investment Research upgraded shares of McDermott International from a “hold” rating to a “strong-buy” rating and set a $6.00 price target on the stock in a research report on Friday, July 29th. Finally, Citigroup Inc. boosted their price target on shares of McDermott International from $5.00 to $6.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 27th.
McDermott International (NYSE:MDR) traded down 1.14% during midday trading on Friday, hitting $5.22. 2,134,271 shares of the company traded hands. McDermott International has a 12-month low of $2.20 and a 12-month high of $6.00. The stock has a 50 day moving average price of $5.02 and a 200-day moving average price of $4.71. The company has a market cap of $1.26 billion, a PE ratio of 435.00 and a beta of 1.21.
McDermott International (NYSE:MDR) last posted its quarterly earnings data on Tuesday, July 26th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.06. The business earned $706.60 million during the quarter, compared to the consensus estimate of $753.43 million. McDermott International had a net margin of 0.12% and a return on equity of 6.51%. The company’s quarterly revenue was down 32.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.04 earnings per share. Analysts expect that McDermott International will post $0.13 EPS for the current year.
Hedge funds have recently added to or reduced their stakes in the stock. James Investment Research Inc. purchased a new stake in McDermott International during the second quarter valued at about $17,420,000. Dimensional Fund Advisors LP increased its stake in McDermott International by 28.5% in the second quarter. Dimensional Fund Advisors LP now owns 8,007,115 shares of the company’s stock valued at $39,555,000 after buying an additional 1,776,201 shares during the period. Vanguard Group Inc. increased its stake in McDermott International by 7.6% in the second quarter. Vanguard Group Inc. now owns 20,451,187 shares of the company’s stock valued at $101,029,000 after buying an additional 1,450,012 shares during the period. Emerald Acquisition Ltd. purchased a new stake in McDermott International during the second quarter valued at about $6,147,000. Finally, Panagora Asset Management Inc. increased its stake in McDermott International by 42,246.6% in the second quarter. Panagora Asset Management Inc. now owns 1,058,664 shares of the company’s stock valued at $5,230,000 after buying an additional 1,056,164 shares during the period. Institutional investors and hedge funds own 78.97% of the company’s stock.
About McDermott International
McDermott International, Inc is a provider of integrated engineering, procurement, construction and installation (EPCI) and module fabrication services for upstream field developments. The Company delivers fixed and floating production facilities, pipeline installations and subsea systems from concept to commissioning for complex 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 MarketBeat.com's FREE daily email newsletter.