Subsea 7 (OTCMKTS:SUBCY) Shares Gap Down – Here’s What Happened

Subsea 7 SA (OTCMKTS:SUBCY) shares gapped down before the market opened on Thursday . The stock had previously closed at $35.08, but opened at $33.4570. Subsea 7 shares last traded at $33.5966, with a volume of 1,623 shares changing hands.

Analysts Set New Price Targets

SUBCY has been the subject of a number of recent analyst reports. UBS Group reaffirmed an “overweight” rating on shares of Subsea 7 in a research report on Monday, May 11th. Barclays cut shares of Subsea 7 from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 20th. Finally, Zacks Research lowered Subsea 7 from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 14th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold”.

Subsea 7 Stock Down 1.4%

The stock’s fifty day moving average is $34.52 and its two-hundred day moving average is $28.24. The company has a current ratio of 1.11, a quick ratio of 1.09 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $10.02 billion, a PE ratio of 20.41 and a beta of 1.08.

Subsea 7 (OTCMKTS:SUBCY) last posted its quarterly earnings results on Thursday, April 30th. The energy company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.03). The company had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.62 billion. Subsea 7 had a net margin of 6.67% and a return on equity of 11.38%. As a group, analysts predict that Subsea 7 SA will post 2.29 EPS for the current year.

Subsea 7 Company Profile

Subsea 7 SA is a global engineering, construction and services contractor serving the offshore energy industry. The company specializes in complex subsea infrastructure projects, offering pipeline and riser installation, umbilical and flowline deployment, and subsea tie-ins. Its fleet of specialized vessels, diving systems and remotely operated vehicles (ROVs) supports installation, inspection, maintenance and repair activities across the life cycle of offshore oil, gas and renewable energy fields.

With roots tracing back to the merger of Subsea 7 Inc and Acergy SA in 2011, Subsea 7 has built a broad international footprint.