McDermott International (NYSE:MDR) was downgraded by TheStreet from a “hold” rating to a “sell” rating in a research note issued on Thursday, Stock Ratings Network.com reports.
The analysts wrote, “McDermott International (MDR) has been downgraded by TheStreet Ratings from hold to sell. The company’s weaknesses can be seen in multiple areas, such as its deteriorating net income, disappointing return on equity, poor profit margins, weak operating cash flow and generally disappointing historical performance in the stock itself.”
Several other analysts have also recently commented on the stock. Analysts at DA Davidson raised their price target on shares of McDermott International from $7.25 to $7.50 in a research note to investors on Wednesday. They now have a “neutral” rating on the stock. Separately, analysts at Macquarie downgraded shares of McDermott International from an “outperform” rating to an “underperform” rating in a research note to investors on Friday, October 18th. Finally, analysts at HSBC raised their price target on shares of McDermott International from $6.70 to $6.75 in a research note to investors on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $10.29.
McDermott International (NYSE:MDR) traded down 0.38% on Thursday, hitting $7.79. 3,443,993 shares of the company’s stock traded hands. McDermott International has a 1-year low of $6.68 and a 1-year high of $13.48. The stock’s 50-day moving average is $7.35 and its 200-day moving average is $8.31. The company’s market cap is $1.843 billion.
McDermott International (NYSE:MDR) last issued its quarterly earnings data on Tuesday, November 5th. The company reported ($0.27) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.03) by $0.24. The company had revenue of $686.86 million for the quarter, compared to the consensus estimate of $743.13 million. During the same quarter in the previous year, the company posted $0.21 earnings per share. The company’s revenue for the quarter was down 33.2% on a year-over-year basis. On average, analysts predict that McDermott International will post $-0.42 earnings per share for the current fiscal year.
McDermott International, Inc (NYSE:MDR) is a engineering, procurement, construction and installation (EPCI) company.
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