Zacks Investment Research Downgrades Subsea 7 SA (SUBCY) to Hold

Zacks Investment Research downgraded shares of Subsea 7 SA (NASDAQ:SUBCY) from a buy rating to a hold rating in a research note published on Thursday.

According to Zacks, “Subsea 7 S.A., formerly known as Acergy S.A., operates as an engineering, construction and services contractor to the offshore energy industry worldwide. The Company is engaged in the design, fabrication, installation and commissioning of seabed-to-surface projects and its scope of operations include Subsea, Umbilical, Riser and Flowline (SURF) systems; Life-of-Field; Conventional Services and Renewables. Services offered by the Company ranges from engineering and construction for subsea field developments, pipeline and riser systems and associated services, inspection, maintenance and repair, integrity management and remote intervention, fabrication and installation of fixed platforms and associated pipelines, as well as hook-up and platform refurbishment. Subsea 7 S.A. is based in London, United Kingdom. “

SUBCY has been the subject of several other reports. BNP Paribas cut shares of Subsea 7 SA from an outperform rating to a neutral rating in a research report on Monday, September 12th. JPMorgan Chase & Co. cut shares of Subsea 7 SA from a neutral rating to an underweight rating in a research report on Tuesday, July 26th. Finally, Credit Suisse Group AG assumed coverage on shares of Subsea 7 SA in a research report on Monday, September 19th. They issued an underperform rating for the company.

Shares of Subsea 7 SA (NASDAQ:SUBCY) opened at 10.835 on Thursday. Subsea 7 SA has a 52-week low of $4.86 and a 52-week high of $11.60. The company has a market capitalization of $3.53 billion and a PE ratio of 197.000. The company has a 50-day moving average of $10.67 and a 200 day moving average of $9.56.

Subsea 7 SA Company Profile

Subsea 7 SA is a provider of seabed-to-surface engineering, construction and offshore installation services to the energy industry. The Company’s operating segments include Northern Hemisphere and Life of Field, Southern Hemisphere and Global Projects, and Corporate. The Company provides products and services for subsea field development, including project management, design and engineering, procurement, fabrication, survey, installation and commissioning of production facilities on the seabed and the tie-back of these facilities to fixed or floating platforms or to the shore.

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