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

Subsea 7 SA (OTCMKTS:SUBCY)’s share price gapped down before the market opened on Wednesday. The stock had previously closed at $35.66, but opened at $34.28. Subsea 7 shares last traded at $34.27, with a volume of 2,264 shares changing hands.

Analysts Set New Price Targets

Several brokerages have commented on SUBCY. UBS Group restated a “buy” rating on shares of Subsea 7 in a research note on Wednesday, August 5th. Rothschild & Co Redburn upgraded Subsea 7 from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Subsea 7 presently has an average rating of “Moderate Buy”.

Subsea 7 Stock Performance

The company has a market cap of $10.13 billion, a P/E ratio of 16.64 and a beta of 1.21. The company has a 50 day moving average price of $35.02 and a 200-day moving average price of $34.39. The company has a quick ratio of 1.02, a current ratio of 1.04 and a debt-to-equity ratio of 0.07.

Subsea 7 (OTCMKTS:SUBCY) last posted its quarterly earnings data on Thursday, July 30th. The energy company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.21. Subsea 7 had a net margin of 8.15% and a return on equity of 13.89%. The business had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.91 billion. Equities analysts expect that Subsea 7 SA will post 2.66 EPS for the current fiscal year.

About Subsea 7

Subsea 7 SA is a global offshore energy services company that delivers engineering, procurement, construction, installation and commissioning solutions for subsea and offshore projects. The company works with energy producers and contractors across the development, construction and operation of offshore assets.

Its services include subsea, umbilicals, risers and flowlines (SURF); conventional offshore installation; subsea inspection, maintenance and repair; and project management and engineering.