McDermott International (NYSE:MDR) has been assigned a $11.00 price objective by analysts at Alembic Global Advisors in a report released on Thursday. The firm presently has a “buy” rating on the oil and gas company’s stock. Alembic Global Advisors’ price target would suggest a potential upside of 49.46% from the company’s current price.
Other equities research analysts have also recently issued research reports about the company. Scotiabank reaffirmed a “buy” rating and issued a $9.00 price target on shares of McDermott International in a report on Wednesday, November 1st. ValuEngine cut McDermott International from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 15th. KeyCorp reaffirmed a “hold” rating on shares of McDermott International in a report on Friday, November 10th. Zacks Investment Research raised McDermott International from a “sell” rating to a “hold” rating in a report on Monday, January 15th. Finally, Deutsche Bank cut their price target on McDermott International from $9.30 to $8.30 and set a “hold” rating for the company in a report on Thursday. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. McDermott International currently has a consensus rating of “Hold” and an average target price of $9.01.
McDermott International (MDR) traded up $0.02 during midday trading on Thursday, hitting $7.36. The stock had a trading volume of 1,707,334 shares, compared to its average volume of 7,537,903. The stock has a market capitalization of $2,240.97, a P/E ratio of 13.65 and a beta of 1.58. McDermott International has a 1-year low of $5.56 and a 1-year high of $9.07. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.70 and a current ratio of 1.70.
McDermott International (NYSE:MDR) last released its earnings results on Wednesday, February 21st. The oil and gas company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.07. McDermott International had a return on equity of 9.56% and a net margin of 5.25%. The business had revenue of $718.10 million for the quarter, compared to the consensus estimate of $744.57 million. During the same quarter last year, the business posted $0.02 earnings per share. The business’s quarterly revenue was up 11.9% compared to the same quarter last year. research analysts forecast that McDermott International will post 0.61 EPS for the current fiscal year.
A number of hedge funds have recently bought and sold shares of the business. BlackRock Inc. increased its stake in McDermott International by 1.6% during the fourth quarter. BlackRock Inc. now owns 36,742,640 shares of the oil and gas company’s stock worth $241,767,000 after acquiring an additional 576,284 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of McDermott International by 10.3% during the third quarter. Dimensional Fund Advisors LP now owns 23,082,635 shares of the oil and gas company’s stock worth $167,811,000 after buying an additional 2,151,895 shares during the period. Fairpointe Capital LLC boosted its position in shares of McDermott International by 6.4% during the fourth quarter. Fairpointe Capital LLC now owns 16,699,289 shares of the oil and gas company’s stock worth $109,882,000 after buying an additional 997,997 shares during the period. State Street Corp boosted its position in shares of McDermott International by 37.3% during the second quarter. State Street Corp now owns 8,384,938 shares of the oil and gas company’s stock worth $60,118,000 after buying an additional 2,277,274 shares during the period. Finally, Van ECK Associates Corp boosted its position in shares of McDermott International by 6.3% during the third quarter. Van ECK Associates Corp now owns 4,403,203 shares of the oil and gas company’s stock worth $32,011,000 after buying an additional 259,894 shares during the period. 89.39% of the stock is owned by institutional investors.
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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