McDermott International, Inc. (NYSE:MDR) issued its earnings results on Wednesday. The oil and gas company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.14, Bloomberg Earnings reports. McDermott International had a return on equity of 5.55% and a net margin of 2.95%. The company had revenue of $958.50 million for the quarter, compared to analyst estimates of $977.28 million. During the same period in the prior year, the firm earned $0.09 earnings per share. McDermott International’s revenue for the quarter was up 71.6% on a year-over-year basis.
McDermott International (NYSE:MDR) traded up 6.80% during midday trading on Wednesday, reaching $7.07. The company had a trading volume of 4,167,854 shares. The stock has a market capitalization of $2.01 billion, a PE ratio of 27.19 and a beta of 1.41. McDermott International has a 12-month low of $4.96 and a 12-month high of $8.33. The company has a 50-day moving average of $6.84 and a 200-day moving average of $6.63.
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A number of equities analysts have recently weighed in on the company. BidaskClub lowered McDermott International from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Scotiabank reaffirmed a “buy” rating and set a $9.00 target price on shares of McDermott International in a research report on Friday, July 28th. TheStreet raised McDermott International from a “c” rating to a “b-” rating in a research report on Tuesday, July 25th. KeyCorp reaffirmed a “hold” rating on shares of McDermott International in a research report on Friday, August 25th. Finally, Deutsche Bank AG lowered their target price 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. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $8.22.
About McDermott International
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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