Analysts Expect McDermott International Inc (MDR) Will Announce Quarterly Sales of $2.70 Billion

Wall Street brokerages expect that McDermott International Inc (NYSE:MDR) will report $2.70 billion in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for McDermott International’s earnings. The lowest sales estimate is $2.66 billion and the highest is $2.75 billion. McDermott International posted sales of $718.10 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 276%. The business is expected to announce its next earnings report on Wednesday, February 20th.

On average, analysts expect that McDermott International will report full year sales of $7.34 billion for the current year, with estimates ranging from $7.29 billion to $7.38 billion. For the next financial year, analysts expect that the business will report sales of $9.74 billion, with estimates ranging from $9.72 billion to $9.76 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for McDermott International.

McDermott International (NYSE:MDR) last posted its quarterly earnings results on Tuesday, October 30th. The oil and gas company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.09). The company had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.50 billion. McDermott International had a net margin of 2.05% and a return on equity of 8.40%. The company’s revenue was up 138.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.33 earnings per share.

MDR has been the topic of several recent analyst reports. Zacks Investment Research cut shares of McDermott International from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 11th. ValuEngine cut shares of McDermott International from a “sell” rating to a “strong sell” rating in a report on Thursday, September 6th. Credit Suisse Group cut their price target on shares of McDermott International from $25.00 to $23.00 and set a “neutral” rating on the stock in a report on Monday, August 13th. TheStreet cut shares of McDermott International from a “b-” rating to a “c+” rating in a report on Wednesday, October 24th. Finally, Citigroup cut their price target on shares of McDermott International from $27.00 to $21.00 and set a “$17.66” rating on the stock in a report on Monday, July 23rd. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $25.32.

In other McDermott International news, CFO Stuart Spence bought 25,000 shares of the stock in a transaction on Tuesday, November 6th. The stock was purchased at an average price of $9.98 per share, for a total transaction of $249,500.00. Following the completion of the purchase, the chief financial officer now directly owns 141,961 shares in the company, valued at $1,416,770.78. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO David Dickson bought 39,800 shares of the stock in a transaction on Tuesday, November 6th. The shares were acquired at an average price of $9.96 per share, with a total value of $396,408.00. Following the purchase, the chief executive officer now owns 459,889 shares of the company’s stock, valued at $4,580,494.44. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 127,300 shares of company stock valued at $1,255,068. 1.30% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. Hanson & Doremus Investment Management increased its stake in McDermott International by 60.2% during the second quarter. Hanson & Doremus Investment Management now owns 6,831 shares of the oil and gas company’s stock valued at $134,000 after purchasing an additional 2,566 shares during the last quarter. Oppenheimer & Co. Inc. increased its stake in McDermott International by 7.4% during the third quarter. Oppenheimer & Co. Inc. now owns 56,580 shares of the oil and gas company’s stock valued at $1,043,000 after purchasing an additional 3,918 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in McDermott International by 25.9% during the second quarter. PNC Financial Services Group Inc. now owns 23,140 shares of the oil and gas company’s stock valued at $455,000 after purchasing an additional 4,760 shares during the last quarter. Chartwell Investment Partners LLC increased its stake in McDermott International by 5.0% during the third quarter. Chartwell Investment Partners LLC now owns 108,820 shares of the oil and gas company’s stock valued at $2,006,000 after purchasing an additional 5,174 shares during the last quarter. Finally, Aperio Group LLC increased its stake in McDermott International by 7.9% during the third quarter. Aperio Group LLC now owns 76,672 shares of the oil and gas company’s stock valued at $1,413,000 after purchasing an additional 5,623 shares during the last quarter. Hedge funds and other institutional investors own 87.85% of the company’s stock.

MDR traded down $1.16 during trading on Friday, hitting $8.47. The company had a trading volume of 8,528,300 shares, compared to its average volume of 3,678,242. The stock has a market capitalization of $1.80 billion, a PE ratio of 4.41 and a beta of 2.58. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.78 and a quick ratio of 0.77. McDermott International has a 1-year low of $6.97 and a 1-year high of $27.21.

McDermott International Company Profile

McDermott International, Inc provides engineering, procurement, construction and installation, front-end engineering and design, and module fabrication services for upstream field developments. It operates through three segments: the Americas, Europe and Africa; the Middle East; and Asia. 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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Earnings History and Estimates for McDermott International (NYSE:MDR)

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