McDermott International (MDR) Bonds Trading 0.9% Higher

An issue of McDermott International Inc (NYSE:MDR) bonds rose 0.9% as a percentage of their face value during trading on Monday. The high-yield debt issue has a 8% coupon and will mature on May 1, 2021. The bonds in the issue are now trading at $103.50. Price moves in a company’s bonds in credit markets sometimes anticipate parallel moves in its stock price.

MDR has been the topic of a number of analyst reports. Zacks Investment Research lowered McDermott International from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 25th. KeyCorp reiterated a “hold” rating on shares of McDermott International in a research note on Friday, November 10th. Credit Suisse Group decreased their price objective 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. Scotiabank reiterated a “buy” rating and set a $9.00 price objective on shares of McDermott International in a research note on Wednesday, November 1st. Finally, ValuEngine lowered McDermott International from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 15th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company’s stock. McDermott International presently has an average rating of “Hold” and an average target price of $7.59.

McDermott International Inc (MDR) traded up $0.01 during trading on Wednesday, reaching $7.82. The company had a trading volume of 1,063,629 shares, compared to its average volume of 6,394,090. McDermott International Inc has a twelve month low of $5.56 and a twelve month 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 stock has a market capitalization of $2,210.00, a PE ratio of 14.75 and a beta of 1.35.

McDermott International (NYSE:MDR) last posted its earnings results on Wednesday, November 1st. The oil and gas company reported $0.33 EPS for the quarter, topping the Thomson Reuters’ 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 business had revenue of $958.50 million during the quarter, compared to analysts’ expectations of $977.28 million. During the same period in the previous year, the business earned $0.09 earnings per share. The firm’s revenue was up 71.6% on a year-over-year basis. equities research analysts predict that McDermott International Inc will post 0.53 EPS for the current year.

Institutional investors have recently bought and sold shares of the stock. Pinebridge Investments L.P. purchased a new position in shares of McDermott International in the 3rd quarter worth about $1,379,000. Boston Advisors LLC raised its position in shares of McDermott International by 14.2% in the 3rd quarter. Boston Advisors LLC now owns 750,595 shares of the oil and gas company’s stock worth $5,457,000 after acquiring an additional 93,300 shares in the last quarter. KBC Group NV bought a new position in shares of McDermott International in the 3rd quarter worth approximately $2,597,000. Schwab Charles Investment Management Inc. raised its position in shares of McDermott International by 4.0% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 2,778,286 shares of the oil and gas company’s stock worth $19,921,000 after acquiring an additional 107,473 shares in the last quarter. Finally, Profund Advisors LLC bought a new position in shares of McDermott International in the 2nd quarter worth approximately $341,000. Institutional investors and hedge funds own 86.10% of the company’s stock.

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About McDermott International

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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