Subsea 7 (OTCMKTS:SUBCY) Cut to “Hold” at Zacks Investment Research

Zacks Investment Research downgraded shares of Subsea 7 (OTCMKTS:SUBCY) from a buy rating to a hold rating in a research report report published on Saturday, Zacks.com reports.

According to Zacks, “Subsea 7 S.A., formerly known as Acergy S.A., operates as an engineering, construction and services contractor to the offshore energy industry worldwide. The Company is engaged in the design, fabrication, installation and commissioning of seabed-to-surface projects and its scope of operations include Subsea, Umbilical, Riser and Flowline (SURF) systems; Life-of-Field; Conventional Services and Renewables. Services offered by the Company ranges from engineering and construction for subsea field developments, pipeline and riser systems and associated services, inspection, maintenance and repair, integrity management and remote intervention, fabrication and installation of fixed platforms and associated pipelines, as well as hook-up and platform refurbishment. Subsea 7 S.A. is based in London, United Kingdom. “

Shares of SUBCY stock opened at $9.50 on Friday. Subsea 7 has a 12 month low of $8.90 and a 12 month high of $15.19. The stock has a market cap of $3.02 billion, a P/E ratio of 16.96 and a beta of 1.52. The company has a current ratio of 1.32, a quick ratio of 1.30 and a debt-to-equity ratio of 0.10. The company has a 50 day simple moving average of $10.67 and a two-hundred day simple moving average of $11.78.

Subsea 7 (OTCMKTS:SUBCY) last announced its earnings results on Thursday, July 25th. The energy company reported $0.09 EPS for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.02). The business had revenue of $957.90 million for the quarter, compared to analysts’ expectations of $1.08 billion. Subsea 7 had a net margin of 3.14% and a return on equity of 2.14%. As a group, equities analysts forecast that Subsea 7 will post 0.19 earnings per share for the current year.

Subsea 7 Company Profile

Subsea 7 SA delivers offshore projects and services for the evolving energy industry worldwide. It provides subsea field development products and services, including project management, design and engineering, procurement, fabrication, survey, installation, and commissioning of production facilities on the seabed and the tie-back of its facilities to fixed or floating platforms or to the shore.

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