Subsea 7 SA (NASDAQ:SUBCY) was downgraded by research analysts at Goldman Sachs Group, Inc. (The) from a “neutral” rating to a “sell” rating in a research report issued on Tuesday.
Separately, Zacks Investment Research downgraded Subsea 7 SA from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 27th.
Shares of Subsea 7 SA (NASDAQ:SUBCY) opened at 17.06 on Tuesday. The company has a market capitalization of $5.56 billion and a price-to-earnings ratio of 13.21. Subsea 7 SA has a 52-week low of $10.63 and a 52-week high of $17.43. The company’s 50 day moving average price is $15.36 and its 200 day moving average price is $14.93.
About Subsea 7 SA
Subsea 7 SA is a provider of seabed-to-surface engineering, construction and services contractor to the offshore energy industry. The Company’s segments include SURF and Conventional, i-Tech Services and Corporate. The SURF and Conventional segment includes Subsea Umbilicals, Risers and Flowlines (SURF) activities related to the engineering, procurement, construction (EPC) and installation of systems offshore, including the long-term Pipelay Support Vessel (PLSV) contracts in Brazil, and conventional services, including the fabrication, installation, extension and refurbishment of fixed and floating platforms and associated pipelines in shallow water environments.
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