McDermott International Inc (NYSE:MDR)’s share price gapped down before the market opened 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 traded.
MDR has been the subject of several analyst reports. Zacks Investment Research upgraded McDermott International from a “strong sell” rating to a “hold” rating in a research report on Wednesday, January 2nd. ValuEngine upgraded McDermott International from a “strong sell” rating to a “sell” rating in a research 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. McDermott International presently has an average rating of “Hold” and an average price target of $23.50.
The company has a quick ratio of 0.77, a current ratio of 0.78 and a debt-to-equity ratio of 0.96. The stock has a market cap of $1.42 billion, a PE ratio of -7.97 and a beta of 2.73.
McDermott International (NYSE:MDR) last issued its quarterly earnings data on Monday, February 25th. The oil and gas company reported ($1.55) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by ($1.76). McDermott International had a net margin of 2.05% and a return on equity of 8.40%. The business had revenue of $2.07 billion during the quarter, compared to analyst estimates of $2.64 billion. During the same quarter in the prior year, the firm posted $0.30 earnings per share. McDermott International’s revenue for the quarter was up 188.7% compared to the same quarter last year. Equities research analysts expect that McDermott International Inc will post 1.69 EPS for the current year.
Several institutional investors and hedge funds have recently modified their holdings of MDR. AQR Capital Management LLC grew its position in shares of McDermott International by 892.0% in the 3rd quarter. AQR Capital Management LLC now owns 3,250,422 shares of the oil and gas company’s stock valued at $59,905,000 after purchasing an additional 2,922,760 shares during the period. Norges Bank acquired a new position in shares of McDermott International in the 4th quarter valued at approximately $17,301,000. Millennium Management LLC grew its position in shares of McDermott International by 274.9% in the 4th quarter. Millennium Management LLC now owns 3,101,248 shares of the oil and gas company’s stock valued at $20,282,000 after purchasing an additional 2,274,013 shares during the period. Bank of New York Mellon Corp acquired a new position in shares of McDermott International in the 2nd quarter valued at approximately $43,106,000. Finally, Van ECK Associates Corp grew its position in shares of McDermott International by 67.9% in the 4th quarter. Van ECK Associates Corp now owns 4,247,475 shares of the oil and gas company’s stock valued at $27,778,000 after purchasing an additional 1,717,884 shares during the period. Institutional investors and hedge funds own 83.35% of the company’s stock.
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.