Brokerages Anticipate McDermott International Inc (MDR) Will Announce Quarterly Sales of $590.78 Million

Wall Street analysts expect that McDermott International Inc (NYSE:MDR) will announce sales of $590.78 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for McDermott International’s earnings, with estimates ranging from $481.56 million to $700.00 million. McDermott International posted sales of $519.43 million in the same quarter last year, which suggests a positive year over year growth rate of 13.7%. The firm is scheduled to issue its next quarterly earnings report on Tuesday, April 24th.

According to Zacks, analysts expect that McDermott International will report full year sales of $590.78 million for the current financial year, with estimates ranging from $3.11 billion to $3.13 billion. For the next fiscal year, analysts expect that the firm will post sales of $3.60 billion per share. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for McDermott International.

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McDermott International (NYSE:MDR) last posted its quarterly earnings results on Wednesday, February 21st. The oil and gas company reported $0.10 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.06. The company had revenue of $718.10 million for the quarter, compared to the consensus estimate of $744.57 million. McDermott International had a return on equity of 10.68% and a net margin of 5.98%. The firm’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.02 EPS.

A number of research firms have recently weighed in on MDR. Citigroup increased their price target on McDermott International from $8.00 to $10.00 and gave the company a “neutral” rating in a research note on Thursday, January 25th. Zacks Investment Research raised McDermott International from a “sell” rating to a “hold” rating in a research note on Monday, January 15th. ValuEngine raised McDermott International from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, March 14th. Deutsche Bank cut their price target on McDermott International from $9.30 to $8.30 and set a “hold” rating on the stock in a research note on Thursday, February 22nd. Finally, Alembic Global Advisors set a $11.00 price target on McDermott International and gave the company a “buy” rating in a research note on Thursday, February 22nd. Two analysts have rated the stock with a sell rating, four have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $8.87.

MDR stock opened at $6.09 on Monday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.03 and a current ratio of 2.03. The firm has a market capitalization of $1,729.76, a PE ratio of 9.52 and a beta of 1.68. McDermott International has a twelve month low of $5.56 and a twelve month high of $9.07.

A number of institutional investors have recently modified their holdings of MDR. Dimensional Fund Advisors LP raised its stake in McDermott International by 10.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 23,082,635 shares of the oil and gas company’s stock worth $167,811,000 after buying an additional 2,151,895 shares during the period. Renaissance Technologies LLC bought a new position in McDermott International during the 4th quarter worth about $12,626,000. Clearline Capital LP bought a new position in McDermott International during the 4th quarter worth about $8,943,000. Evanston Investments Inc. dba Evanston Advisors bought a new position in McDermott International during the 4th quarter worth about $8,287,000. Finally, Hudson Bay Capital Management LP bought a new position in McDermott International during the 4th quarter worth about $7,318,000. 97.69% of the stock is currently owned by institutional investors and hedge funds.

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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.

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