McDermott International Inc (NYSE:MDR) Receives Consensus Rating of “Hold” from Brokerages

Shares of McDermott International Inc (NYSE:MDR) have been assigned a consensus recommendation of “Hold” from the six brokerages that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation and three have given a hold recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $24.67.

Several brokerages have recently weighed in on MDR. Zacks Investment Research cut McDermott International from a “buy” rating to a “hold” rating in a research report on Thursday, May 2nd. TheStreet cut McDermott International from a “c-” rating to a “d” rating in a research report on Monday, March 11th. Finally, ValuEngine upgraded McDermott International from a “strong sell” rating to a “sell” rating in a research report on Friday, March 1st.

Shares of MDR opened at $9.64 on Friday. The firm’s 50-day moving average is $7.28. McDermott International has a twelve month low of $5.91 and a twelve month high of $20.63. The company has a market capitalization of $1.66 billion, a PE ratio of -9.74 and a beta of 2.80. The company has a debt-to-equity ratio of 5.61, a quick ratio of 0.68 and a current ratio of 0.70.

McDermott International (NYSE:MDR) last announced its quarterly earnings results on Monday, April 29th. The oil and gas company reported $0.02 earnings per share for the quarter, missing the Thomson Reuters’ 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 quarter in the prior year, the company earned $0.51 earnings per share. The company’s quarterly revenue was up 263.7% on a year-over-year basis. Equities analysts expect that McDermott International will post 1.65 earnings per share for the current year.

Several hedge funds have recently bought and sold shares of MDR. Rhumbline Advisers increased its position in shares of McDermott International by 65.1% in the fourth quarter. Rhumbline Advisers now owns 542,398 shares of the oil and gas company’s stock worth $3,547,000 after purchasing an additional 213,863 shares during the last quarter. SG Americas Securities LLC increased its position in shares of McDermott International by 69.4% in the fourth quarter. SG Americas Securities LLC now owns 47,686 shares of the oil and gas company’s stock worth $312,000 after purchasing an additional 19,532 shares during the last quarter. BB&T Securities LLC bought a new position in shares of McDermott International in the fourth quarter worth approximately $66,000. Cambridge Investment Research Advisors Inc. increased its position in shares of McDermott International by 36.0% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 28,102 shares of the oil and gas company’s stock worth $184,000 after purchasing an additional 7,437 shares during the last quarter. Finally, First Trust Advisors LP increased its position in shares of McDermott International by 91.6% in the fourth quarter. First Trust Advisors LP now owns 245,657 shares of the oil and gas company’s stock worth $1,607,000 after purchasing an additional 117,412 shares during the last quarter. Institutional investors own 86.56% of the company’s stock.

About McDermott International

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.

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