McDermott International (NYSE:MDR) was downgraded by BB&T Corp. from a “buy” rating to a “hold” rating in a research note issued on Tuesday, TheFlyOnTheWall.com reports. They currently have a $12.00 target price on the stock. BB&T Corp.’s price target points to a potential upside of 73.16% from the company’s current price.
A number of other firms have also recently commented on MDR. Analysts at Zacks reiterated a “neutral” rating on shares of McDermott International in a research note to investors on Monday, July 29th. They now have a $9.25 price target on the stock. Separately, analysts at Goldman Sachs Group Inc. initiated coverage on shares of McDermott International in a research note to investors on Wednesday, June 26th. They set a “neutral” rating and a $10.00 price target on the stock.
Thirteen research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $11.38.
McDermott International (NYSE:MDR) opened at 6.91 on Tuesday. McDermott International has a 1-year low of $6.92 and a 1-year high of $13.56. The stock’s 50-day moving average is currently $8.63. The company has a market cap of $1.634 billion and a price-to-earnings ratio of 9.94.
McDermott International (NYSE:MDR) last issued its quarterly earnings data on Monday, August 5th. The company reported ($0.63) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by $0.66. The company had revenue of $647.25 million for the quarter, compared to the consensus estimate of $757.87 million. During the same quarter in the previous year, the company posted $0.22 earnings per share. The company’s revenue for the quarter was down 28.0% on a year-over-year basis. On average, analysts predict that McDermott International will post $0.43 earnings per share for the current fiscal year.
McDermott International, Inc (NYSE:MDR) is a engineering, procurement, construction and installation (EPCI) company.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.