McDermott International (NYSE:MDR) was downgraded by research analysts at TheStreet from a “c-” rating to a “d” rating in a research note issued on Monday.
Other equities research analysts also recently issued research reports about the company. 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 equities research analyst has rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. McDermott International presently has an average rating of “Hold” and a consensus price target of $23.50.
Get McDermott International alerts:MDR opened at $8.39 on Monday. The company has a market capitalization of $1.52 billion, a price-to-earnings ratio of -8.47 and a beta of 2.73. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.78 and a quick ratio of 0.77. McDermott International has a 1-year low of $6.10 and a 1-year high of $23.58.
McDermott International (NYSE:MDR) last released its earnings results on Monday, February 25th. The oil and gas company reported ($1.55) earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($1.76). The firm had revenue of $2.07 billion during the quarter, compared to analyst estimates of $2.64 billion. McDermott International had a return on equity of 8.40% and a net margin of 2.05%. The business’s revenue for the quarter was up 188.7% on a year-over-year basis. During the same quarter last year, the company earned $0.30 earnings per share. On average, analysts predict that McDermott International will post 1.69 EPS for the current fiscal year.
Several large investors have recently made changes to their positions in MDR. AQR Capital Management LLC lifted its position in shares of McDermott International by 892.0% during 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 acquiring an additional 2,922,760 shares during the last quarter. Norges Bank acquired a new stake in shares of McDermott International during the 4th quarter valued at $17,301,000. Millennium Management LLC lifted its position in shares of McDermott International by 274.9% during 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 acquiring an additional 2,274,013 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of McDermott International during the 2nd quarter valued at $43,106,000. Finally, Van ECK Associates Corp lifted its position in shares of McDermott International by 67.9% during 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 acquiring an additional 1,717,884 shares during the last quarter. Institutional investors own 83.35% of the company’s stock.
About McDermott International
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.
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