Subsea 7 (OTCMKTS:SUBCY) Shares Gap Up – Here’s What Happened

Subsea 7 SA (OTCMKTS:SUBCY)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $33.00, but opened at $34.6475. Subsea 7 shares last traded at $34.6475, with a volume of 715 shares traded.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. 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. UBS Group restated a “buy” rating on shares of Subsea 7 in a research report on Wednesday, August 5th. One 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 company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy”.

Subsea 7 Stock Performance

The company has a market cap of $10.14 billion, a P/E ratio of 16.65 and a beta of 1.12. The company’s fifty day moving average is $34.82 and its 200 day moving average is $33.17. The company has a current ratio of 1.04, a quick ratio of 1.02 and a debt-to-equity ratio of 0.07.

Subsea 7 (OTCMKTS:SUBCY) last posted its quarterly earnings results on Thursday, July 30th. The energy company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.21. Subsea 7 had a net margin of 8.15% and a return on equity of 13.89%. The business had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.91 billion. As a group, equities analysts predict that Subsea 7 SA will post 2.66 earnings per share for the current fiscal year.

Subsea 7 Company Profile

Subsea 7 SA is a global offshore energy services company that designs, engineers and delivers complex projects for the energy industry. Its work spans offshore oil and gas, offshore wind and other emerging energy sectors, with services covering project management, engineering, procurement, construction and installation.

The company provides subsea, umbilicals, risers and flowlines (SURF) services; offshore pipeline and infrastructure installation; subsea inspection, maintenance and repair; and offshore renewable-energy solutions.