Subsea 7 (OTCMKTS:SUBCY) Downgraded by Goldman Sachs Group to “Neutral”

Goldman Sachs Group cut shares of Subsea 7 (OTCMKTS:SUBCY) from a buy rating to a neutral rating in a report issued on Tuesday morning, Automated Import reports.

A number of other equities analysts also recently issued reports on SUBCY. Zacks Investment Research upgraded Subsea 7 from a hold rating to a buy rating and set a $11.00 price target for the company in a research note on Friday, October 18th. ValuEngine downgraded Subsea 7 from a buy rating to a hold rating in a research note on Tuesday, December 3rd.

SUBCY stock opened at $11.57 on Tuesday. The company has a market capitalization of $3.71 billion, a P/E ratio of 38.57 and a beta of 1.66. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.23 and a current ratio of 1.25. Subsea 7 has a 52-week low of $8.96 and a 52-week high of $13.85. The business has a 50-day simple moving average of $11.58 and a two-hundred day simple moving average of $10.64.

Subsea 7 (OTCMKTS:SUBCY) last released its quarterly earnings results on Thursday, November 7th. The energy company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.05. The business had revenue of $950.60 million during the quarter, compared to the consensus estimate of $1.02 billion. Subsea 7 had a return on equity of 1.62% and a net margin of 2.38%. As a group, sell-side analysts forecast that Subsea 7 will post 0.21 earnings per share for the current fiscal year.

Subsea 7 Company Profile

Subsea 7 SA delivers offshore projects and services for the evolving energy industry worldwide. It provides subsea field development products and services, including project management, design and engineering, procurement, fabrication, survey, installation, and commissioning of production facilities on the seabed and the tie-back of its facilities to fixed or floating platforms or to the shore.

Read More: Why do analysts give a neutral rating?

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