McDermott International (MDR) Shares Gap Down to $8.14

Shares of McDermott International Inc (NYSE:MDR) gapped down prior to trading on Friday . The stock had previously closed at $8.33, but opened at $8.14. McDermott International shares last traded at $7.89, with a volume of 4657065 shares trading hands.

A number of brokerages have commented on MDR. ValuEngine upgraded shares of McDermott International from a “strong sell” rating to a “sell” rating in a research note on Friday, March 1st. Zacks Investment Research restated a “sell” rating on shares of McDermott International in a research note on Tuesday, November 13th. One equities research analyst has rated the stock with a sell rating and three have assigned a hold rating to the company. The stock presently has an average rating of “Hold” and an average price target of $23.50.

The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.77 and a current ratio of 0.78. The company has a market capitalization of $1.47 billion, a PE ratio of -7.97 and a beta of 2.73.

McDermott International (NYSE:MDR) last posted its earnings results on Monday, February 25th. The oil and gas company reported ($1.55) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($1.76). The company had revenue of $2.07 billion for the quarter, compared to analyst estimates of $2.64 billion. McDermott International had a return on equity of 8.40% and a net margin of 2.05%. The business’s quarterly revenue was up 188.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.30 EPS. On average, equities research analysts forecast that McDermott International Inc will post 1.69 earnings per share for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of MDR. Bank of New York Mellon Corp acquired a new stake in shares of McDermott International during the 2nd quarter worth about $43,106,000. Aperio Group LLC increased its position in McDermott International by 7.9% during the third quarter. Aperio Group LLC now owns 76,672 shares of the oil and gas company’s stock worth $1,413,000 after acquiring an additional 5,623 shares during the period. Alps Advisors Inc. bought a new position in McDermott International during the third quarter worth about $475,000. Russell Investments Group Ltd. increased its position in McDermott International by 16.1% during the third quarter. Russell Investments Group Ltd. now owns 976,315 shares of the oil and gas company’s stock worth $17,993,000 after acquiring an additional 135,711 shares during the period. Finally, Assenagon Asset Management S.A. bought a new position in McDermott International during the third quarter worth about $537,000. Institutional investors own 83.35% of the company’s stock.

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McDermott International Company Profile (NYSE:MDR)

McDermott International, Inc provides engineering, procurement, construction and installation, front-end engineering and design, and module fabrication services for upstream field developments. It operates through three segments: the Americas, Europe and Africa; the Middle East; and Asia. 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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