$2.36 Billion in Sales Expected for McDermott International Inc (MDR) This Quarter

Equities research analysts predict that McDermott International Inc (NYSE:MDR) will post $2.36 billion in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for McDermott International’s earnings, with estimates ranging from $2.27 billion to $2.45 billion. McDermott International reported sales of $1.74 billion during the same quarter last year, which indicates a positive year over year growth rate of 35.6%. The company is expected to announce its next earnings report on Tuesday, July 30th.

According to Zacks, analysts expect that McDermott International will report full year sales of $10.09 billion for the current year, with estimates ranging from $10.05 billion to $10.14 billion. For the next fiscal year, analysts forecast that the firm will report sales of $10.85 billion, with estimates ranging from $10.65 billion to $11.05 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for McDermott International.

McDermott International (NYSE:MDR) last issued its quarterly earnings results on Monday, April 29th. The oil and gas company reported $0.02 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.09 by ($0.07). McDermott International had a negative net margin of 33.44% and a negative return on equity of 5.13%. The business had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.18 billion. During the same period in the previous year, the company posted $0.51 earnings per share. McDermott International’s revenue was up 263.7% compared to the same quarter last year.

A number of brokerages have weighed in on MDR. Zacks Investment Research downgraded shares of McDermott International from a “buy” rating to a “hold” rating in a report on Thursday. TheStreet downgraded shares of McDermott International from a “c-” rating to a “d” rating in a report on Monday, March 11th. Finally, ValuEngine raised shares of McDermott International from a “strong sell” rating to a “sell” rating in a report on Friday, March 1st. One research analyst has rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $23.50.

Shares of NYSE MDR opened at $7.96 on Friday. McDermott International has a twelve month low of $6.10 and a twelve month high of $23.36. The company has a debt-to-equity ratio of 5.61, a current ratio of 0.70 and a quick ratio of 0.70. The stock has a market capitalization of $1.48 billion, a price-to-earnings ratio of -8.04 and a beta of 2.73.

A number of hedge funds and other institutional investors have recently bought and sold shares of MDR. Bank of New York Mellon Corp boosted its stake in McDermott International by 2.1% in the third quarter. Bank of New York Mellon Corp now owns 2,239,207 shares of the oil and gas company’s stock valued at $41,269,000 after acquiring an additional 45,519 shares in the last quarter. Jane Street Group LLC acquired a new stake in McDermott International in the third quarter valued at approximately $621,000. TIAA CREF Investment Management LLC boosted its stake in McDermott International by 2.6% in the third quarter. TIAA CREF Investment Management LLC now owns 622,220 shares of the oil and gas company’s stock valued at $11,468,000 after acquiring an additional 15,647 shares in the last quarter. Nordea Investment Management AB acquired a new stake in McDermott International in the third quarter valued at approximately $7,614,000. Finally, Vanguard Group Inc. boosted its stake in McDermott International by 0.5% in the third quarter. Vanguard Group Inc. now owns 15,799,391 shares of the oil and gas company’s stock valued at $291,183,000 after acquiring an additional 84,954 shares in the last quarter. Hedge funds and other institutional investors own 88.54% of the company’s stock.

McDermott International Company Profile

McDermott International, Inc provides engineering, procurement, construction and installation, and technology solutions to the energy industry worldwide. It operates through five segments: North, Central and South America; Europe, Africa, Russia and Caspian; the Middle East and North Africa; Asia Pacific; and Technology.

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Earnings History and Estimates for McDermott International (NYSE:MDR)

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