McDermott International (NYSE:MDR) Rating Reiterated by KeyCorp

KeyCorp reaffirmed their hold rating on shares of McDermott International (NYSE:MDR) in a report issued on Friday, November 10th.

MDR has been the subject of several other research reports. Credit Suisse Group decreased their price target on McDermott International from $7.60 to $7.30 and set a neutral rating for the company in a report on Thursday, November 2nd. Zacks Investment Research upgraded McDermott International from a hold rating to a strong-buy rating and set a $8.50 price target for the company in a report on Thursday, July 20th. UBS boosted their price objective on McDermott International from $7.00 to $7.50 and gave the stock a neutral rating in a research report on Friday, November 3rd. ValuEngine raised McDermott International from a buy rating to a strong-buy rating in a research report on Monday, November 6th. Finally, Deutsche Bank cut their price objective on McDermott International from $6.50 to $5.25 and set a hold rating on the stock in a research report on Tuesday, October 24th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $7.94.

Shares of McDermott International (MDR) traded up $0.01 during trading on Friday, reaching $7.30. The company had a trading volume of 1,382,200 shares, compared to its average volume of 3,113,320. McDermott International has a 1-year low of $5.56 and a 1-year high of $8.33. The company has a market capitalization of $2,070.00, a P/E ratio of 13.07 and a beta of 1.32. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.70 and a quick ratio of 1.70.

McDermott International (NYSE:MDR) last announced its quarterly earnings results on Wednesday, November 1st. The oil and gas company reported $0.33 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.14. McDermott International had a return on equity of 9.56% and a net margin of 5.25%. The business had revenue of $958.50 million during the quarter, compared to the consensus estimate of $977.28 million. During the same quarter in the prior year, the company posted $0.09 earnings per share. McDermott International’s revenue was up 71.6% compared to the same quarter last year. sell-side analysts anticipate that McDermott International will post 0.53 EPS for the current fiscal year.

A number of hedge funds have recently bought and sold shares of MDR. BlackRock Inc. boosted its position in McDermott International by 109.1% in the second quarter. BlackRock Inc. now owns 35,201,940 shares of the oil and gas company’s stock worth $252,397,000 after purchasing an additional 18,363,073 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of McDermott International by 31.0% during the 2nd quarter. Vanguard Group Inc. now owns 30,112,732 shares of the oil and gas company’s stock valued at $215,909,000 after buying an additional 7,129,111 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of McDermott International by 14.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 20,930,740 shares of the oil and gas company’s stock valued at $150,072,000 after buying an additional 2,717,602 shares during the last quarter. Thompson Siegel & Walmsley LLC purchased a new position in shares of McDermott International during the 2nd quarter valued at $17,846,000. Finally, Bank of New York Mellon Corp lifted its position in shares of McDermott International by 138.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,939,387 shares of the oil and gas company’s stock valued at $28,246,000 after buying an additional 2,286,320 shares during the last quarter. 86.08% of the stock is currently owned by institutional investors and hedge funds.

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McDermott International Company Profile

McDermott International, Inc is a provider of integrated engineering, procurement, construction and installation (EPCI), front-end engineering and design (FEED) and module fabrication services for upstream field developments across the world. The Company delivers fixed and floating production facilities, pipeline installations and subsea systems from concept to commissioning for offshore and subsea oil and gas projects.

Analyst Recommendations for McDermott International (NYSE:MDR)

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