McDermott International (MDR) – Investment Analysts’ Recent Ratings Updates

McDermott International (NYSE: MDR) recently received a number of ratings updates from brokerages and research firms:

  • 8/3/2017 – McDermott International was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 7/28/2017 – McDermott International had its “buy” rating reaffirmed by analysts at Scotiabank. They now have a $9.00 price target on the stock.
  • 7/25/2017 – McDermott International was upgraded by analysts at TheStreet from a “c” rating to a “b-” rating.
  • 7/24/2017 – McDermott International was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 7/20/2017 – McDermott International was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “strong-buy” rating. They now have a $8.50 price target on the stock. According to Zacks, “McDermott International's broad product portfolio, diversified geographical footprint, good market position and strong relationship with national oil companies provides a significant cushion against the downside risks inherent in its business. MDR's robust backlog, including its recent contracts with Saudi Aramco and BP, reflects steady demand from the customers. Despite the volatility in the commodity pricing environment, the company has maintained its excellent track record of earnings surprise history, beating estimates in each of the last ten quarters. The company's enhanced focus on operational execution and cost control have led to a strong balance sheet. All this is also reflected in the price performance of the company which has rallied 54% over the last one year, handily outperforming the broader industry which witnessed a loss of 10% over the same period. These factors account for our bullish stance on the stock.”
  • 7/6/2017 – McDermott International was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 6/27/2017 – McDermott International was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Despite the weak commodity pricing environment, McDermott International has maintained its excellent track record of earnings surprise history, beating estimates handily in each of the last ten quarters. This energy-focused engineering and construction firm has embarked on a major cost savings initiative to shore up its finances and turn around. Among other positives, McDermott received a large number of new contacts of late, thus adding to its already robust backlog. We also believe MDR's broad product portfolio insulates the operations to a large extent. Still, with a considerable portion of MDR’s current backlog assosiated with offshore operations, it remains susceptible to the pricing weakness that has affected the offshore drilling industry as well as the energy sector at large. Consequently, until the external environment challenges subside, we see limited upside for MDR shares.”
  • 6/13/2017 – McDermott International was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating.

Shares of McDermott International, Inc. (NYSE:MDR) opened at 6.61 on Wednesday. The company has a market capitalization of $1.88 billion, a P/E ratio of 25.42 and a beta of 1.37. McDermott International, Inc. has a 52-week low of $4.41 and a 52-week high of $8.33. The firm has a 50-day moving average of $7.03 and a 200 day moving average of $6.94.

McDermott International (NYSE:MDR) last released its quarterly earnings data on Tuesday, July 25th. The oil and gas company reported $0.13 EPS for the quarter, missing the Zacks’ consensus estimate of $0.16 by $0.03. McDermott International had a return on equity of 5.55% and a net margin of 2.95%. The company had revenue of $788.20 million for the quarter, compared to the consensus estimate of $856.54 million. During the same period last year, the firm earned $0.07 earnings per share. The company’s revenue for the quarter was up 11.5% compared to the same quarter last year. On average, analysts anticipate that McDermott International, Inc. will post $0.42 EPS for the current year.

McDermott International, Inc is a provider of integrated engineering, procurement, construction and installation (EPCI), front-end engineering and design (FEED) and module fabrication services for upstream field developments across the world. The Company delivers fixed and floating production facilities, pipeline installations and subsea systems from concept to commissioning for offshore and subsea oil and gas projects.

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