McDermott International (NYSE:MDR) has been given a consensus recommendation of “Hold” by the eleven analysts that are presently covering the stock. Eight equities research analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $7.64.
MDR has been the subject of a number of recent analyst reports. Zacks Investment Research downgraded McDermott International from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 2nd. Citigroup Inc lifted 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. Credit Suisse Group AG lifted 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. Finally, Scotiabank set a $9.00 price objective on McDermott International and gave the company a “hold” rating in a research report on Friday, March 31st.
McDermott International (NYSE:MDR) traded up 0.16% during trading on Monday, reaching $6.38. 1,884,174 shares of the company’s stock traded hands. The company has a 50 day moving average of $6.55 and a 200 day moving average of $6.75. McDermott International has a one year low of $4.03 and a one year high of $8.33. The firm has a market cap of $1.54 billion, a price-to-earnings ratio of 53.17 and a beta of 1.52.
McDermott International (NYSE:MDR) last released its quarterly earnings results on Tuesday, February 21st. The oil and gas company reported $0.02 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.03. The company earned $641.80 million during the quarter, compared to analysts’ expectations of $614.01 million. McDermott International had a return on equity of 6.41% and a net margin of 0.60%. The business’s revenue for the quarter was down 3.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.06 earnings per share. Equities research analysts predict that McDermott International will post $0.30 EPS for the current year.
Large investors have recently bought and sold shares of the stock. New York State Common Retirement Fund increased its stake in McDermott International by 7.1% in the third quarter. New York State Common Retirement Fund now owns 324,500 shares of the oil and gas company’s stock worth $1,626,000 after buying an additional 21,600 shares during the period. BlackRock Fund Advisors increased its stake in McDermott International by 6.6% in the third quarter. BlackRock Fund Advisors now owns 6,807,091 shares of the oil and gas company’s stock worth $34,104,000 after buying an additional 420,518 shares during the period. BlackRock Inc. increased its stake in McDermott International by 68.4% in the third quarter. BlackRock Inc. now owns 143,192 shares of the oil and gas company’s stock worth $718,000 after buying an additional 58,147 shares during the period. BlackRock Investment Management LLC increased its stake in McDermott International by 1.1% in the third quarter. BlackRock Investment Management LLC now owns 1,001,892 shares of the oil and gas company’s stock worth $5,019,000 after buying an additional 10,717 shares during the period. Finally, BlackRock Advisors LLC increased its stake in McDermott International by 101.2% in the third quarter. BlackRock Advisors LLC now owns 244,492 shares of the oil and gas company’s stock worth $1,225,000 after buying an additional 122,977 shares during the period. 81.79% of the stock is owned by hedge funds and other 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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