McDermott International (NYSE:MDR) has received a consensus recommendation of “Hold” from the thirteen ratings firms that are covering the firm. One research analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $7.08.
MDR has been the topic of a number of recent research reports. Zacks Investment Research upgraded McDermott International from a “hold” rating to a “strong-buy” rating and set a $8.50 price objective on the stock in a research report on Monday, January 16th. Howard Weil downgraded McDermott International from an “outperform” rating to a “sector perform” rating and set a $8.00 price objective on the stock. in a research report on Thursday, December 15th. Credit Suisse Group AG upped their price objective on McDermott International from $5.45 to $8.80 and gave the company a “neutral” rating in a research report on Tuesday, January 31st. Citigroup Inc upped their price objective on McDermott International from $6.00 to $8.00 and gave the company a “neutral” rating in a research report on Monday, January 23rd. Finally, KeyCorp upgraded McDermott International from a “sector weight” rating to an “overweight” rating and set a $10.00 price objective on the stock in a research report on Tuesday, December 20th.
McDermott International (NYSE:MDR) opened at 6.24 on Wednesday. McDermott International has a 52-week low of $3.53 and a 52-week high of $8.33. The company’s 50-day moving average price is $7.24 and its 200 day moving average price is $6.52. The company has a market capitalization of $1.51 billion, a price-to-earnings ratio of 52.00 and a beta of 1.52.
McDermott International (NYSE:MDR) last posted its earnings results on Tuesday, February 21st. The company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.03. The company had revenue of $641.80 million for the quarter, compared to the consensus estimate of $614.01 million. McDermott International had a return on equity of 6.41% and a net margin of 0.60%. The firm’s revenue for the quarter was down 3.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.06 earnings per share. On average, equities analysts expect that McDermott International will post $0.30 EPS for the current fiscal year.
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A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Norges Bank purchased a new position in shares of McDermott International during the fourth quarter valued at about $14,152,000. Ladenburg Thalmann Financial Services Inc. boosted its position in shares of McDermott International by 44.8% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 29,177 shares of the company’s stock valued at $216,000 after buying an additional 9,022 shares during the period. AQR Capital Management LLC boosted its position in shares of McDermott International by 39.1% in the fourth quarter. AQR Capital Management LLC now owns 605,703 shares of the company’s stock valued at $4,476,000 after buying an additional 170,149 shares during the period. Guggenheim Capital LLC boosted its position in shares of McDermott International by 114.2% in the fourth quarter. Guggenheim Capital LLC now owns 197,658 shares of the company’s stock valued at $1,461,000 after buying an additional 105,371 shares during the period. Finally, Ancora Advisors LLC boosted its position in shares of McDermott International by 7.1% in the fourth quarter. Ancora Advisors LLC now owns 15,000 shares of the company’s stock valued at $110,000 after buying an additional 1,000 shares during the period. 81.79% of the stock is currently owned by institutional investors.
McDermott International Company Profile
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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