Zacks: Brokerages Expect McDermott International Inc (MDR) to Post $0.29 Earnings Per Share

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Equities research analysts predict that McDermott International Inc (NYSE:MDR) will announce earnings of $0.29 per share for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for McDermott International’s earnings, with the highest EPS estimate coming in at $0.31 and the lowest estimate coming in at $0.27. McDermott International posted earnings per share of $0.99 during the same quarter last year, which would indicate a negative year over year growth rate of 70.7%. The business is expected to report its next quarterly earnings report on Wednesday, November 7th.

According to Zacks, analysts expect that McDermott International will report full year earnings of $1.53 per share for the current fiscal year. For the next financial year, analysts expect that the company will report earnings of $2.03 per share, with EPS estimates ranging from $1.89 to $2.16. Zacks Investment Research’s EPS calculations are an average based on a survey of research firms that that provide coverage for McDermott International.

McDermott International (NYSE:MDR) last announced its quarterly earnings data on Tuesday, July 31st. The oil and gas company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.07. McDermott International had a return on equity of 10.38% and a net margin of 5.04%. The company had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.98 billion. During the same quarter last year, the firm posted $0.13 EPS. The firm’s revenue for the quarter was up 119.9% on a year-over-year basis.

A number of research analysts have weighed in on the company. Credit Suisse Group reduced their target price on McDermott International from $25.00 to $23.00 and set a “neutral” rating for the company in a report on Monday, August 13th. ValuEngine raised McDermott International from a “strong sell” rating to a “sell” rating in a report on Thursday, August 2nd. Zacks Investment Research raised McDermott International from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a report on Wednesday, July 25th. Citigroup dropped their price target on McDermott International from $27.00 to $21.00 and set a “$17.66” rating for the company in a research report on Monday, July 23rd. Finally, KeyCorp dropped their price target on McDermott International from $42.00 to $38.00 and set a “$17.66” rating for the company in a research report on Monday, July 23rd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $26.18.

MDR stock opened at $18.46 on Friday. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.96. The stock has a market cap of $3.67 billion, a price-to-earnings ratio of 9.61 and a beta of 1.81. McDermott International has a twelve month low of $16.14 and a twelve month high of $27.21.

In other news, SVP Scott Munro sold 2,250 shares of McDermott International stock in a transaction dated Monday, July 16th. The stock was sold at an average price of $17.87, for a total transaction of $40,207.50. Following the completion of the sale, the senior vice president now owns 35,270 shares in the company, valued at approximately $630,274.90. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.30% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Envestnet Asset Management Inc. bought a new stake in shares of McDermott International during the 2nd quarter valued at about $117,000. Icon Wealth Partners LLC bought a new stake in McDermott International in the 2nd quarter worth approximately $134,000. Hanson & Doremus Investment Management lifted its position in McDermott International by 60.2% in the 2nd quarter. Hanson & Doremus Investment Management now owns 6,831 shares of the oil and gas company’s stock worth $134,000 after buying an additional 2,566 shares during the last quarter. NumerixS Investment Technologies Inc bought a new stake in McDermott International in the 2nd quarter worth approximately $162,000. Finally, Nisa Investment Advisors LLC lifted its position in McDermott International by 549.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 9,252 shares of the oil and gas company’s stock worth $182,000 after buying an additional 7,827 shares during the last quarter.

About McDermott International

McDermott International, Inc provides engineering, procurement, construction and installation, front-end engineering and design, and module fabrication services for upstream field developments. It operates through three segments: the Americas, Europe and Africa; the Middle East; and Asia. 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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