Brokerages Expect McDermott International (MDR) Will Post Earnings of $0.27 Per Share

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Brokerages expect McDermott International (NYSE:MDR) to post earnings of $0.27 per share for the current quarter, Zacks reports. Two analysts have provided estimates for McDermott International’s earnings. The highest EPS estimate is $0.33 and the lowest is $0.21. McDermott International reported earnings per share of $0.39 in the same quarter last year, which indicates a negative year over year growth rate of 30.8%. The firm is scheduled to issue its next quarterly earnings results on Tuesday, July 24th.

On average, analysts expect that McDermott International will report full year earnings of $1.47 per share for the current financial year. For the next fiscal year, analysts forecast that the business will post earnings of $1.46 per share, with EPS estimates ranging from $1.41 to $1.50. Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that follow McDermott International.

McDermott International (NYSE:MDR) last released its quarterly earnings data on Tuesday, April 24th. The oil and gas company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.18. McDermott International had a net margin of 6.24% and a return on equity of 11.91%. The business had revenue of $607.82 million during the quarter, compared to analyst estimates of $610.00 million. During the same quarter in the previous year, the business earned $0.24 EPS. McDermott International’s quarterly revenue was up 17.0% compared to the same quarter last year.

Several equities research analysts recently issued reports on MDR shares. ValuEngine lowered shares of McDermott International from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 7th. Zacks Investment Research raised shares of McDermott International from a “hold” rating to a “buy” rating and set a $22.50 price objective for the company in a research note on Thursday, April 26th. Credit Suisse Group lifted their price objective on shares of McDermott International from $21.00 to $25.00 and gave the company a “neutral” rating in a research note on Thursday, May 24th. Finally, Citigroup reduced their price objective on shares of McDermott International from $30.00 to $24.00 and set a “neutral” rating for the company in a research note on Friday, April 13th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $25.56.

Shares of MDR stock traded down $0.70 on Monday, hitting $18.95. The company’s stock had a trading volume of 3,275,600 shares, compared to its average volume of 4,060,889. The company has a current ratio of 2.22, a quick ratio of 2.22 and a debt-to-equity ratio of 0.28. McDermott International has a fifty-two week low of $16.14 and a fifty-two week high of $27.21. The firm has a market cap of $1.87 billion, a PE ratio of 10.02 and a beta of 1.87.

Institutional investors have recently added to or reduced their stakes in the business. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp acquired a new position in McDermott International during the 4th quarter worth $1,481,000. BlackRock Inc. lifted its position in McDermott International by 1.6% during the 4th 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. Jump Trading LLC acquired a new position in McDermott International during the 4th quarter worth $235,000. Geode Capital Management LLC lifted its position in McDermott International by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 3,285,638 shares of the oil and gas company’s stock worth $21,618,000 after acquiring an additional 24,017 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in McDermott International by 93.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,937 shares of the oil and gas company’s stock worth $111,000 after acquiring an additional 8,176 shares during the last quarter.

McDermott International Company Profile

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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