KeyCorp Weighs in on McDermott International Inc’s Q2 2019 Earnings (NYSE:MDR)

McDermott International Inc (NYSE:MDR) – Analysts at KeyCorp decreased their Q2 2019 earnings estimates for shares of McDermott International in a report issued on Tuesday, June 18th, according to Zacks Investment Research. KeyCorp analyst T. Afzal now expects that the oil and gas company will earn $0.04 per share for the quarter, down from their previous estimate of $0.26. KeyCorp also issued estimates for McDermott International’s Q4 2019 earnings at $1.12 EPS.

McDermott International (NYSE:MDR) last released its quarterly earnings data on Monday, April 29th. The oil and gas company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.07). McDermott International had a negative net margin of 33.44% and a negative return on equity of 5.13%. The company had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.18 billion. During the same period last year, the company earned $0.51 EPS. The firm’s revenue for the quarter was up 263.7% on a year-over-year basis.

A number of other brokerages also recently commented on MDR. ValuEngine raised shares of Zillow Group from a “hold” rating to a “buy” rating in a report on Thursday. Zacks Investment Research downgraded shares of Hersha Hospitality Trust from a “buy” rating to a “hold” rating in a report on Thursday, May 2nd. Four equities research analysts have rated the stock with a hold rating, McDermott International presently has a consensus rating of “Hold” and a consensus target price of $23.50.

Shares of NYSE:MDR traded up $0.09 during trading on Friday, reaching $10.49. The company’s stock had a trading volume of 2,713,558 shares, compared to its average volume of 4,100,387. The company has a quick ratio of 0.68, a current ratio of 0.70 and a debt-to-equity ratio of 5.61. McDermott International has a 12 month low of $5.91 and a 12 month high of $20.63. The company’s 50 day moving average price is $7.92. The stock has a market cap of $1.89 billion, a PE ratio of -10.60 and a beta of 3.15.

A number of hedge funds and other institutional investors have recently made changes to their positions in MDR. Penserra Capital Management LLC lifted its stake in McDermott International by 96.8% in the fourth quarter. Penserra Capital Management LLC now owns 5,368 shares of the oil and gas company’s stock worth $35,000 after purchasing an additional 2,640 shares during the last quarter. Quantamental Technologies LLC bought a new stake in McDermott International in the first quarter worth about $39,000. Icon Wealth Partners LLC bought a new stake in McDermott International in the first quarter worth about $46,000. Investors Research Corp bought a new stake in McDermott International in the first quarter worth about $63,000. Finally, BB&T Securities LLC bought a new stake in McDermott International in the fourth quarter worth about $66,000. 86.56% of the stock is owned by institutional investors and hedge funds.

McDermott International Company Profile

McDermott International, Inc provides engineering, procurement, construction and installation, and technology solutions to the energy industry worldwide. It operates through five segments: North, Central and South America; Europe, Africa, Russia and Caspian; the Middle East and North Africa; Asia Pacific; and Technology.

Read More: What is the Gross Domestic Product (GDP)?

Get a free copy of the Zacks research report on McDermott International (MDR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for McDermott International (NYSE:MDR)

Receive News & Ratings for McDermott International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for McDermott International and related companies with MarketBeat.com's FREE daily email newsletter.