Subsea 7 (OTCMKTS:SUBCY) Issues Earnings Results, Beats Expectations By $0.21 EPS

Subsea 7 (OTCMKTS:SUBCY) issued its quarterly earnings data on Thursday. The energy company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.21, Zacks reports. Subsea 7 had a return on equity of 14.04% and a net margin of 8.15%.The business had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.91 billion.

Subsea 7 Price Performance

Subsea 7 stock opened at $33.01 on Friday. Subsea 7 has a 52 week low of $17.79 and a 52 week high of $37.66. The business has a 50-day simple moving average of $34.18 and a 200 day simple moving average of $30.76. The stock has a market cap of $9.76 billion, a price-to-earnings ratio of 16.02 and a beta of 1.08. The company has a quick ratio of 1.09, a current ratio of 1.11 and a debt-to-equity ratio of 0.09.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on SUBCY shares. Barclays lowered Subsea 7 from a “strong-buy” rating to a “hold” rating in a report on Monday, April 20th. Rothschild & Co Redburn upgraded shares of Subsea 7 from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 23rd. Zacks Research cut shares of Subsea 7 from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 14th. Finally, UBS Group raised shares of Subsea 7 from an “overweight” rating to a “buy” rating in a report on Thursday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy”.

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.