Subsea 7 (OTCMKTS:SUBCY) Shares Gap Down – Here’s Why

Shares of Subsea 7 SA (OTCMKTS:SUBCY) gapped down before the market opened on Thursday . The stock had previously closed at $36.34, but opened at $34.60. Subsea 7 shares last traded at $34.27, with a volume of 3,595 shares.

Analysts Set New Price Targets

SUBCY has been the topic of several recent research reports. Barclays cut Subsea 7 from a “strong-buy” rating to a “hold” rating in a report on Monday, April 20th. Zacks Research cut Subsea 7 from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 14th. Finally, UBS Group reaffirmed an “overweight” rating on shares of Subsea 7 in a research note on Monday, May 11th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold”.

Subsea 7 Price Performance

The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.09 and a current ratio of 1.11. The firm has a market capitalization of $10.11 billion, a P/E ratio of 20.60 and a beta of 1.08. The company has a 50-day moving average price of $34.29 and a 200-day moving average price of $27.70.

Subsea 7 (OTCMKTS:SUBCY) last released its quarterly earnings data on Thursday, April 30th. The energy company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.03). Subsea 7 had a net margin of 6.67% and a return on equity of 11.38%. The company had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.62 billion. On average, sell-side analysts predict that Subsea 7 SA will post 2.29 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.