McDermott International, Inc. (NYSE:MDR) was upgraded by research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research report issued on Thursday.
Other research analysts have also issued reports about the company. Scotiabank raised McDermott International from a “sector perform” rating to a “buy” rating and set a $9.00 price objective on the stock in a report on Thursday, May 25th. Zacks Investment Research lowered McDermott International from a “buy” rating to a “hold” rating in a report on Tuesday, June 27th. ValuEngine lowered McDermott International from a “buy” rating to a “hold” rating in a report on Tuesday, June 6th. Deutsche Bank AG reissued a “hold” rating and set a $7.00 target price (down from $8.00) on shares of McDermott International in a report on Saturday, April 22nd. Finally, Scotia Howard Weill raised McDermott International from a “sector perform” rating to a “sector outperform” rating in a report on Thursday, May 25th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $8.19.
McDermott International (MDR) opened at 7.15 on Thursday. McDermott International has a 12 month low of $4.41 and a 12 month high of $8.33. The company has a 50-day moving average price of $6.48 and a 200 day moving average price of $7.00. The company has a market capitalization of $2.03 billion, a PE ratio of 35.75 and a beta of 1.38.
McDermott International (NYSE:MDR) last issued its quarterly earnings data on Tuesday, April 25th. The oil and gas company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.07. McDermott International had a return on equity of 4.75% and a net margin of 2.40%. The firm had revenue of $519.40 million for the quarter, compared to analyst estimates of $689.30 million. During the same period in the prior year, the firm posted $0.13 EPS. The company’s revenue for the quarter was down 28.8% on a year-over-year basis. On average, equities research analysts forecast that McDermott International will post $0.42 EPS for the current fiscal year.
Several hedge funds have recently made changes to their positions in MDR. BlackRock Inc. increased its stake in shares of McDermott International by 14,922.4% in the first quarter. BlackRock Inc. now owns 16,838,867 shares of the oil and gas company’s stock valued at $113,663,000 after buying an additional 16,726,775 shares in the last quarter. LSV Asset Management increased its stake in shares of McDermott International by 57.5% in the first quarter. LSV Asset Management now owns 13,213,796 shares of the oil and gas company’s stock valued at $89,193,000 after buying an additional 4,822,700 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of McDermott International by 31.9% in the first quarter. Dimensional Fund Advisors LP now owns 18,213,138 shares of the oil and gas company’s stock valued at $122,938,000 after buying an additional 4,409,387 shares in the last quarter. Acadian Asset Management LLC increased its stake in shares of McDermott International by 67.7% in the first quarter. Acadian Asset Management LLC now owns 7,579,874 shares of the oil and gas company’s stock valued at $51,165,000 after buying an additional 3,058,732 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of McDermott International during the fourth quarter valued at $14,152,000. Institutional investors and hedge funds own 73.91% of the company’s stock.
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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