Analysts Set McDermott International Inc (MDR) Target Price at $24.67

McDermott International Inc (NYSE:MDR) has earned a consensus rating of “Hold” from the six brokerages that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation and three have assigned a hold recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $24.67.

Several brokerages recently issued reports on MDR. TheStreet lowered McDermott International from a “c-” rating to a “d” rating in a research report on Monday, March 11th. ValuEngine raised McDermott International from a “strong sell” rating to a “sell” rating in a research report on Friday, March 1st. Finally, Zacks Investment Research raised McDermott International from a “strong sell” rating to a “hold” rating in a research report on Wednesday, January 2nd.

NYSE MDR traded down $0.42 on Thursday, hitting $7.03. 7,385,968 shares of the company’s stock were exchanged, compared to its average volume of 5,559,093. The company has a debt-to-equity ratio of 4.20, a current ratio of 0.72 and a quick ratio of 0.70. McDermott International has a 52 week low of $6.10 and a 52 week high of $23.36. The stock has a market capitalization of $1.27 billion, a PE ratio of -7.10 and a beta of 2.76.

McDermott International (NYSE:MDR) last released its earnings results on Monday, February 25th. The oil and gas company reported ($1.55) earnings per share for the quarter, missing the consensus estimate of $0.21 by ($1.76). McDermott International had a negative return on equity of 3.20% and a negative net margin of 40.07%. The business had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $2.64 billion. During the same quarter in the previous year, the company earned $0.30 earnings per share. The firm’s revenue for the quarter was up 188.7% on a year-over-year basis. As a group, sell-side analysts expect that McDermott International will post 1.69 earnings per share for the current year.

A number of institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp bought a new stake in shares of McDermott International in the 2nd quarter worth approximately $43,106,000. Private Advisor Group LLC bought a new stake in McDermott International in the third quarter worth $190,000. Wells Fargo & Company MN lifted its stake in McDermott International by 37.1% in the third quarter. Wells Fargo & Company MN now owns 883,329 shares of the oil and gas company’s stock worth $16,279,000 after purchasing an additional 238,844 shares during the last quarter. Chartwell Investment Partners LLC raised its stake in shares of 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 acquiring an additional 5,174 shares during the last quarter. Finally, BlackRock Inc. raised its stake in shares of McDermott International by 4.4% during the third quarter. BlackRock Inc. now owns 21,091,651 shares of the oil and gas company’s stock valued at $388,719,000 after acquiring an additional 896,997 shares during the last quarter. Hedge funds and other institutional investors own 87.19% of the company’s stock.

About McDermott International

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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