McDermott International Inc (NYSE:MDR) Director Gary Luquette bought 50,500 shares of the stock in a transaction that occurred on Tuesday, November 6th. The stock was bought at an average cost of $10.00 per share, for a total transaction of $505,000.00. Following the transaction, the director now owns 90,250 shares of the company’s stock, valued at approximately $902,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
NYSE:MDR opened at $9.95 on Wednesday. McDermott International Inc has a 52-week low of $6.97 and a 52-week high of $27.21. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.77 and a current ratio of 0.78. The stock has a market capitalization of $1.58 billion, a P/E ratio of 5.18 and a beta of 2.58.
McDermott International (NYSE:MDR) last posted its quarterly earnings results on Tuesday, October 30th. The oil and gas company reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.09). McDermott International had a return on equity of 8.40% and a net margin of 2.05%. The business had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter in the previous year, the business posted $0.33 EPS. The company’s revenue for the quarter was up 138.7% on a year-over-year basis. On average, analysts anticipate that McDermott International Inc will post 1.03 earnings per share for the current year.
Institutional investors have recently bought and sold shares of the stock. Fairfax Financial Holdings Ltd Can bought a new position in McDermott International during the second quarter worth about $12,879,000. Fox Run Management L.L.C. bought a new position in McDermott International during the third quarter worth about $728,000. Manning & Napier Group LLC bought a new position in McDermott International during the third quarter worth about $243,000. Renaissance Technologies LLC bought a new position in McDermott International during the second quarter worth about $37,690,000. Finally, Luminus Management LLC bought a new position in McDermott International during the second quarter worth about $45,791,000. Institutional investors and hedge funds own 87.85% of the company’s stock.
MDR has been the topic of a number of recent research reports. KeyCorp lowered their target price on McDermott International from $42.00 to $38.00 and set a “$17.66” rating on the stock in a research report on Monday, July 23rd. Citigroup lowered their target price on McDermott International from $27.00 to $21.00 and set a “$17.66” rating on the stock in a research report on Monday, July 23rd. Zacks Investment Research raised McDermott International from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a research report on Wednesday, July 25th. ValuEngine raised McDermott International from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 2nd. Finally, Credit Suisse Group lowered their target price on McDermott International from $25.00 to $23.00 and set a “neutral” rating on the stock in a research report on Monday, August 13th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $25.32.
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McDermott International Company Profile
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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