$2.21 Billion in Sales Expected for McDermott International Inc (NYSE:MDR) This Quarter

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Analysts expect that McDermott International Inc (NYSE:MDR) will announce $2.21 billion in sales for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for McDermott International’s earnings, with estimates ranging from $2.05 billion to $2.37 billion. McDermott International posted sales of $2.29 billion during the same quarter last year, which would indicate a negative year-over-year growth rate of 3.5%. The business is scheduled to issue its next quarterly earnings results on Tuesday, October 29th.

According to Zacks, analysts expect that McDermott International will report full year sales of $9.49 billion for the current fiscal year, with estimates ranging from $9.46 billion to $9.52 billion. For the next financial year, analysts forecast that the company will post sales of $11.42 billion, with estimates ranging from $11.12 billion to $11.73 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover McDermott International.

McDermott International (NYSE:MDR) last announced its earnings results on Monday, July 29th. The oil and gas company reported ($0.07) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.15). The company had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.25 billion. McDermott International had a negative net margin of 33.95% and a negative return on equity of 12.08%. The business’s quarterly revenue was up 23.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.29 earnings per share.

Several equities research analysts recently commented on MDR shares. Citigroup dropped their target price on McDermott International from $11.00 to $7.00 and set a “neutral” rating on the stock in a report on Wednesday, September 11th. ValuEngine downgraded McDermott International from a “hold” rating to a “sell” rating in a report on Wednesday, July 31st.

Shares of NYSE:MDR traded up $0.43 during mid-day trading on Thursday, hitting $2.01. 181,995,771 shares of the company traded hands, compared to its average volume of 15,566,458. The firm has a market cap of $287.02 million, a P/E ratio of -2.03 and a beta of 3.23. The company has a debt-to-equity ratio of 7.01, a quick ratio of 0.68 and a current ratio of 0.69. McDermott International has a 52-week low of $1.44 and a 52-week high of $19.27. The firm’s 50 day simple moving average is $4.65 and its 200 day simple moving average is $7.41.

Hedge funds have recently bought and sold shares of the business. Tower Research Capital LLC TRC increased its holdings in McDermott International by 112.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 131,168 shares of the oil and gas company’s stock worth $1,267,000 after purchasing an additional 69,404 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of McDermott International by 12.9% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 2,065,076 shares of the oil and gas company’s stock worth $19,949,000 after acquiring an additional 235,565 shares in the last quarter. Swiss National Bank grew its position in shares of McDermott International by 2.2% in the 2nd quarter. Swiss National Bank now owns 336,411 shares of the oil and gas company’s stock worth $3,250,000 after acquiring an additional 7,300 shares in the last quarter. Piedmont Investment Advisors Inc. acquired a new position in shares of McDermott International in the 1st quarter worth approximately $77,000. Finally, BB&T Securities LLC grew its position in shares of McDermott International by 60.1% in the 2nd quarter. BB&T Securities LLC now owns 23,192 shares of the oil and gas company’s stock worth $224,000 after acquiring an additional 8,705 shares in the last quarter. Institutional investors own 88.97% of the company’s stock.

McDermott International Company Profile

McDermott International, Inc provides engineering, procurement, construction and installation, and technology solutions to the energy industry worldwide. It operates through five segments: North, Central and South America; Europe, Africa, Russia and Caspian; the Middle East and North Africa; Asia Pacific; and Technology.

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Earnings History and Estimates for McDermott International (NYSE:MDR)

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