Credit Suisse Group Trims McDermott International, Inc. (MDR) Target Price to $7.30

McDermott International, Inc. (NYSE:MDR) had its price objective cut by investment analysts at Credit Suisse Group from $7.60 to $7.30 in a research report issued on Thursday, November 2nd. The brokerage presently has a “neutral” rating on the oil and gas company’s stock. Credit Suisse Group’s price objective suggests a potential upside of 1.67% from the company’s current price.

Other research analysts also recently issued research reports about the stock. Zacks Investment Research upgraded shares of McDermott International from a “hold” rating to a “strong-buy” rating and set a $8.50 price target on the stock in a research report on Thursday, July 20th. BidaskClub downgraded shares of McDermott International from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 17th. Deutsche Bank AG dropped their price target on shares of McDermott International from $6.50 to $5.25 and set a “hold” rating on the stock in a research report on Tuesday, October 24th. KeyCorp restated a “hold” rating on shares of McDermott International in a research report on Friday, October 6th. Finally, TheStreet upgraded shares of McDermott International from a “c” rating to a “b-” rating in a research report on Tuesday, July 25th. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $7.94.

McDermott International (NYSE MDR) traded down $0.32 on Thursday, hitting $7.18. 1,658,900 shares of the stock were exchanged, compared to its average volume of 3,189,238. McDermott International has a one year low of $5.56 and a one year high of $8.33. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.30. The firm has a market cap of $2,130.07, a P/E ratio of 13.39 and a beta of 1.32.

McDermott International (NYSE:MDR) last posted its quarterly earnings results on Wednesday, November 1st. The oil and gas company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.14. McDermott International had a net margin of 5.25% and a return on equity of 9.56%. The company had revenue of $958.50 million for the quarter, compared to the consensus estimate of $977.28 million. During the same period last year, the company posted $0.09 EPS. The firm’s quarterly revenue was up 71.6% compared to the same quarter last year. equities analysts predict that McDermott International will post 0.52 earnings per share for the current fiscal year.

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Several hedge funds and other institutional investors have recently bought and sold shares of MDR. BlackRock Inc. grew its stake in shares of McDermott International by 109.1% in the 2nd quarter. BlackRock Inc. now owns 35,201,940 shares of the oil and gas company’s stock worth $252,397,000 after acquiring an additional 18,363,073 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of McDermott International by 31.0% in the 2nd quarter. Vanguard Group Inc. now owns 30,112,732 shares of the oil and gas company’s stock worth $215,909,000 after buying an additional 7,129,111 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of McDermott International by 14.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 20,930,740 shares of the oil and gas company’s stock worth $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 in the 2nd quarter worth about $17,846,000. Finally, Bank of New York Mellon Corp boosted its holdings in shares of McDermott International by 138.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,939,387 shares of the oil and gas company’s stock worth $28,246,000 after buying an additional 2,286,320 shares during the last quarter. Hedge funds and other institutional investors own 84.35% of the company’s stock.

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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