Subsea 7 SA (NASDAQ:SUBCY) Upgraded by Zacks Investment Research to “Strong-Buy”

Zacks Investment Research upgraded shares of Subsea 7 SA (NASDAQ:SUBCY) from a hold rating to a strong-buy rating in a research note released on Saturday. Zacks Investment Research currently has $17.00 price objective on the energy company’s stock.

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. “

Separately, Goldman Sachs Group, Inc. (The) raised Subsea 7 SA from a sell rating to a neutral rating in a research note on Monday, May 8th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of Hold and an average price target of $17.00.

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Subsea 7 SA (NASDAQ SUBCY) opened at 15.14 on Friday. Subsea 7 SA has a 52-week low of $9.76 and a 52-week high of $17.00. The company’s 50-day moving average price is $13.93 and its 200 day moving average price is $14.65. The company has a market capitalization of $4.93 billion and a price-to-earnings ratio of 11.73.

Subsea 7 SA (NASDAQ:SUBCY) last issued its quarterly earnings data on Wednesday, July 26th. The energy company reported $0.43 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.16. Subsea 7 SA had a return on equity of 10.06% and a net margin of 16.30%. The company had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $936 million. On average, equities analysts expect that Subsea 7 SA will post $0.75 EPS for the current fiscal year.

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About Subsea 7 SA

Subsea 7 SA is a provider of seabed-to-surface engineering, construction and services contractor to the offshore energy industry. The Company’s segments include SURF and Conventional, i-Tech Services and Corporate. The SURF and Conventional segment includes Subsea Umbilicals, Risers and Flowlines (SURF) activities related to the engineering, procurement, construction (EPC) and installation of systems offshore, including the long-term Pipelay Support Vessel (PLSV) contracts in Brazil, and conventional services, including the fabrication, installation, extension and refurbishment of fixed and floating platforms and associated pipelines in shallow water environments.

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