McDermott International, Inc. (MDR) Expected to Announce Earnings of -$0.01 Per Share

Analysts expect McDermott International, Inc. (NYSE:MDR) to post earnings of ($0.01) per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for McDermott International’s earnings. The highest EPS estimate is ($0.01) and the lowest is ($0.02). McDermott International posted earnings of $0.02 per share during the same quarter last year, which suggests a negative year-over-year growth rate of 150%. The firm is expected to announce its next quarterly earnings report on Tuesday, February 20th.

On average, analysts expect that McDermott International will report full-year earnings of $0.53 per share for the current financial year, with EPS estimates ranging from $0.52 to $0.53. For the next fiscal year, analysts forecast that the business will post earnings of $0.36 per share, with EPS estimates ranging from $0.34 to $0.39. Zacks Investment Research’s EPS averages are an average based on a survey of research firms that that provide coverage for McDermott International.

McDermott International (NYSE:MDR) last posted its quarterly earnings data on Wednesday, November 1st. The oil and gas company reported $0.33 EPS for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.14. McDermott International had a return on equity of 9.56% and a net margin of 5.25%. The firm had revenue of $958.50 million for the quarter, compared to analyst estimates of $977.28 million. During the same quarter last year, the company earned $0.09 EPS. The company’s revenue was up 71.6% on a year-over-year basis.

Several equities analysts have recently issued reports on the company. ValuEngine upgraded McDermott International from a “buy” rating to a “strong-buy” rating in a research note on Monday, November 6th. KeyCorp reiterated a “hold” rating on shares of McDermott International in a research note on Friday, November 10th. UBS lifted their price target on McDermott International from $7.00 to $7.50 and gave the company a “neutral” rating in a research note on Friday, November 3rd. Zacks Investment Research upgraded McDermott International from a “sell” rating to a “hold” rating in a research note on Friday, November 3rd. Finally, Credit Suisse Group decreased their price target on McDermott International from $7.60 to $7.30 and set a “neutral” rating on the stock in a research note on Thursday, November 2nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $7.94.

Shares of McDermott International (NYSE MDR) traded down $0.04 on Friday, hitting $7.38. The stock had a trading volume of 1,238,400 shares, compared to its average volume of 3,098,715. McDermott International has a one year low of $5.56 and a one year high of $8.33. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.70 and a current ratio of 1.70. The company has a market cap of $2,107.34, a price-to-earnings ratio of 13.25 and a beta of 1.35.

Institutional investors and hedge funds have recently made changes to their positions in the business. Private Advisor Group LLC acquired a new position in McDermott International during the 2nd quarter worth about $106,000. Cubist Systematic Strategies LLC acquired a new position in McDermott International during the 3rd quarter worth about $112,000. Meeder Asset Management Inc. lifted its holdings in McDermott International by 234.0% during the 3rd quarter. Meeder Asset Management Inc. now owns 16,144 shares of the oil and gas company’s stock worth $117,000 after buying an additional 11,310 shares during the period. Everence Capital Management Inc. acquired a new position in McDermott International during the 2nd quarter worth about $116,000. Finally, World Asset Management Inc acquired a new position in McDermott International during the 2nd quarter worth about $134,000. 86.11% of the stock is currently owned by hedge funds and other institutional investors.

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McDermott International Company Profile

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

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