McDermott International (MDR) Shares Up 12.6%

Shares of McDermott International Inc (NYSE:MDR) shot up 12.6% on Tuesday . The company traded as high as $10.37 and last traded at $10.29. 10,165,616 shares changed hands during trading, an increase of 105% from the average session volume of 4,952,540 shares. The stock had previously closed at $9.14.

A number of brokerages recently weighed in on MDR. TheStreet cut shares of McDermott International from a “c-” rating to a “d” rating in a report on Monday, March 11th. Zacks Investment Research upgraded shares of McDermott International from a “strong sell” rating to a “hold” rating in a report on Wednesday, January 2nd. Finally, ValuEngine upgraded shares of McDermott International from a “strong sell” rating to a “sell” rating in a report on Friday, March 1st. One investment analyst has rated the stock with a sell rating and three have issued a hold rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $23.50.

The company has a current ratio of 0.72, a quick ratio of 0.70 and a debt-to-equity ratio of 4.20. The company has a market capitalization of $1.65 billion, a P/E ratio of -10.39 and a beta of 2.73.

McDermott International (NYSE:MDR) last posted its quarterly earnings data on Monday, February 25th. The oil and gas company reported ($1.55) EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($1.76). McDermott International had a negative return on equity of 3.20% and a negative net margin of 40.07%. The firm had revenue of $2.07 billion during the quarter, compared to analyst estimates of $2.64 billion. During the same period in the prior year, the business posted $0.30 EPS. The company’s revenue for the quarter was up 188.7% on a year-over-year basis. As a group, equities research analysts predict that McDermott International Inc will post 1.69 earnings per share for the current year.

Institutional investors have recently bought and sold shares of the stock. Squarepoint Ops LLC boosted its stake in McDermott International by 174.2% in the 4th quarter. Squarepoint Ops LLC now owns 217,562 shares of the oil and gas company’s stock worth $1,423,000 after purchasing an additional 138,211 shares during the period. Bank of New York Mellon Corp boosted its stake in McDermott International by 2.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,239,207 shares of the oil and gas company’s stock worth $41,269,000 after purchasing an additional 45,519 shares during the period. Thornburg Investment Management Inc. boosted its stake in McDermott International by 8.6% in the 4th quarter. Thornburg Investment Management Inc. now owns 1,185,217 shares of the oil and gas company’s stock worth $7,751,000 after purchasing an additional 93,426 shares during the period. Rhumbline Advisers boosted its stake in McDermott International by 65.1% in the 4th 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 period. Finally, First Trust Advisors LP boosted its stake in McDermott International by 91.6% in the 4th 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 period. 88.60% of the stock is owned by hedge funds and other institutional investors.

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McDermott International Company Profile (NYSE:MDR)

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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