Short Interest in Subsea 7 S.A. (OTCMKTS:SUBCY) Increases By 360.0%

Subsea 7 S.A. (OTCMKTS:SUBCY – Get Rating) was the recipient of a large increase in short interest during the month of May. As of May 15th, there was short interest totalling 11,500 shares, an increase of 360.0% from the April 30th total of 2,500 shares. Based on an average trading volume of 10,600 shares, the days-to-cover ratio is currently 1.1 days.

Subsea 7 Stock Up 0.9 %

Shares of OTCMKTS SUBCY traded up $0.09 during trading hours on Friday, hitting $10.46. The company had a trading volume of 9,256 shares, compared to its average volume of 11,890. The stock has a market capitalization of $3.17 billion, a P/E ratio of 46.26 and a beta of 1.78. Subsea 7 has a 1-year low of $7.06 and a 1-year high of $14.27. The firm’s 50 day moving average is $11.30 and its 200-day moving average is $11.61.

Subsea 7 (OTCMKTS:SUBCY – Get Rating) last released its quarterly earnings data on Thursday, April 27th. The energy company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.05). The company had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.11 billion. Subsea 7 had a net margin of 1.00% and a return on equity of 1.11%. On average, sell-side analysts predict that Subsea 7 will post 0.07 earnings per share for the current year.

Subsea 7 Increases Dividend

The business also recently disclosed a dividend, which was paid on Friday, April 28th. Stockholders of record on Friday, April 21st were issued a $0.3854 dividend. This represents a dividend yield of 3.26%. The ex-dividend date was Thursday, April 20th. This is an increase from Subsea 7’s previous dividend of $0.11.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on SUBCY shares. JPMorgan Chase & Co. downgraded Subsea 7 from a “neutral” rating to an “underweight” rating in a research report on Thursday, January 26th. Royal Bank of Canada started coverage on Subsea 7 in a research report on Wednesday, April 5th. They set an “outperform” rating for the company.

About Subsea 7

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Subsea 7 SA engages in the provision of engineering and construction services to the offshore drilling industry. It provides cost-effective technical solutions to enable the delivery of complex projects in all water depths and challenging environments. The company was founded on March 10, 1993 and is headquartered in London, the United Kingdom.