Subsea 7 (OTCMKTS:SUBCY) Reaches New 12-Month High – Here’s Why

Subsea 7 SA (OTCMKTS:SUBCY) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $30.96 and last traded at $30.88, with a volume of 31922 shares trading hands. The stock had previously closed at $29.80.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Zacks Research cut shares of Subsea 7 from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 10th. UBS Group reiterated a “neutral” rating on shares of Subsea 7 in a report on Friday, January 30th. Three investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Hold”.

Subsea 7 Trading Up 3.6%

The firm’s 50 day moving average price is $26.53 and its 200-day moving average price is $22.21. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.11 and a quick ratio of 1.09. The stock has a market cap of $9.13 billion, a P/E ratio of 22.38 and a beta of 1.10.

Subsea 7 (OTCMKTS:SUBCY) last announced its quarterly earnings results on Thursday, February 26th. The energy company reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.06). Subsea 7 had a net margin of 5.76% and a return on equity of 9.46%. The firm had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $1.95 billion. As a group, equities research analysts forecast that Subsea 7 SA will post 0.86 earnings per share for the current year.

About Subsea 7

Subsea 7 SA is a global engineering, construction and services contractor serving the offshore energy industry. The company specializes in complex subsea infrastructure projects, offering pipeline and riser installation, umbilical and flowline deployment, and subsea tie-ins. Its fleet of specialized vessels, diving systems and remotely operated vehicles (ROVs) supports installation, inspection, maintenance and repair activities across the life cycle of offshore oil, gas and renewable energy fields.

With roots tracing back to the merger of Subsea 7 Inc and Acergy SA in 2011, Subsea 7 has built a broad international footprint.