McDermott International (MDR) Bonds Trading 0.9% Higher

An issue of McDermott International Inc (NYSE:MDR) debt rose 0.9% as a percentage of its face value during trading on Monday. The high-yield issue of debt has a 8% coupon and is set to mature on May 1, 2021. The debt is now trading at $103.50. Price moves in a company’s debt in credit markets sometimes predict parallel moves in its share price.

A number of equities analysts have commented on MDR shares. Zacks Investment Research lowered McDermott International from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 25th. KeyCorp reaffirmed a “hold” rating on shares of McDermott International in a research note on Friday, November 10th. Credit Suisse Group cut their price target on McDermott International from $7.60 to $7.30 and set a “neutral” rating on the stock in a research note on Thursday, November 2nd. Scotiabank reaffirmed a “buy” rating and set a $9.00 price target on shares of McDermott International in a research note on Wednesday, November 1st. Finally, ValuEngine lowered McDermott International from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 15th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company’s stock. McDermott International currently has an average rating of “Hold” and a consensus price target of $7.59.

Shares of McDermott International Inc (MDR) traded up $0.09 on Monday, hitting $7.79. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.30. McDermott International Inc has a twelve month low of $5.56 and a twelve month high of $8.33. The stock has a market cap of $2,210.00, a PE ratio of 14.70 and a beta of 1.35.

McDermott International (NYSE:MDR) last issued its quarterly earnings results on Wednesday, November 1st. The oil and gas company reported $0.33 earnings per share (EPS) for the quarter, beating the 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 for the quarter, compared to analyst estimates of $977.28 million. During the same quarter in the prior year, the firm posted $0.09 earnings per share. The firm’s revenue for the quarter was up 71.6% compared to the same quarter last year. sell-side analysts predict that McDermott International Inc will post 0.53 EPS for the current year.

Several institutional investors and hedge funds have recently modified their holdings of MDR. Pinebridge Investments L.P. acquired a new position in McDermott International in the third quarter valued at about $1,379,000. Boston Advisors LLC lifted its stake in McDermott International by 14.2% in the third quarter. Boston Advisors LLC now owns 750,595 shares of the oil and gas company’s stock valued at $5,457,000 after buying an additional 93,300 shares during the period. KBC Group NV acquired a new position in McDermott International in the third quarter valued at about $2,597,000. Schwab Charles Investment Management Inc. lifted its stake in McDermott International by 4.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 2,778,286 shares of the oil and gas company’s stock valued at $19,921,000 after buying an additional 107,473 shares during the period. Finally, Profund Advisors LLC acquired a new position in McDermott International in the second quarter valued at about $341,000. 86.10% 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.

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