McDermott International (NYSE:MDR) Rating Lowered to Sell at ValuEngine

McDermott International (NYSE:MDR) was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday, ValuEngine reports.

A number of other research firms have also weighed in on MDR. Citigroup decreased their target price on shares of McDermott International from $13.00 to $11.00 and set a “neutral” rating on the stock in a report on Tuesday. Zacks Investment Research lowered shares of McDermott International from a “buy” rating to a “hold” rating in a report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating and three have given a hold rating to the company. McDermott International has a consensus rating of “Hold” and a consensus target price of $17.00.

McDermott International stock traded down $0.36 during midday trading on Wednesday, reaching $5.42. 367,224 shares of the stock were exchanged, compared to its average volume of 4,857,100. The firm has a fifty day simple moving average of $9.22. The company has a current ratio of 0.69, a quick ratio of 0.68 and a debt-to-equity ratio of 7.01. The stock has a market cap of $1.18 billion, a price-to-earnings ratio of -5.53 and a beta of 3.15. McDermott International has a 52 week low of $5.74 and a 52 week high of $20.63.

McDermott International (NYSE:MDR) last posted its earnings results on Monday, July 29th. The oil and gas company reported ($0.07) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.08 by ($0.15). The firm had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.25 billion. McDermott International had a negative return on equity of 12.08% and a negative net margin of 33.95%. The business’s revenue was up 23.2% on a year-over-year basis. During the same period last year, the company posted $0.29 EPS. As a group, analysts forecast that McDermott International will post -0.33 EPS for the current year.

Institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP increased its stake in shares of McDermott International by 3.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 9,234,912 shares of the oil and gas company’s stock worth $60,399,000 after purchasing an additional 269,091 shares during the period. Two Sigma Investments LP increased its stake in shares of McDermott International by 3,125.5% in the fourth quarter. Two Sigma Investments LP now owns 133,121 shares of the oil and gas company’s stock worth $871,000 after purchasing an additional 137,521 shares during the period. Municipal Employees Retirement System of Michigan bought a new position in shares of McDermott International in the fourth quarter worth about $425,000. Jane Street Group LLC increased its stake in shares of McDermott International by 37.0% in the fourth quarter. Jane Street Group LLC now owns 46,159 shares of the oil and gas company’s stock worth $302,000 after purchasing an additional 12,455 shares during the period. Finally, Thrivent Financial for Lutherans increased its stake in shares of McDermott International by 286.8% in the fourth quarter. Thrivent Financial for Lutherans now owns 167,649 shares of the oil and gas company’s stock worth $1,097,000 after purchasing an additional 124,301 shares during the period. 86.63% of the stock is currently owned by institutional investors and hedge funds.

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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