Zacks Investment Research upgraded shares of Subsea 7 (OTCMKTS:SUBCY) from a hold rating to a buy rating in a research note published on Friday, Zacks.com reports. Zacks Investment Research currently has $12.00 price target 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 reiterated a neutral rating and issued a $36.00 price objective on shares of General Motors in a report on Tuesday, March 26th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock currently has an average rating of Buy and a consensus price target of $12.00.
OTCMKTS SUBCY opened at $11.02 on Friday. Subsea 7 has a one year low of $8.90 and a one year high of $15.42. The stock has a 50-day simple moving average of $11.55. The company has a market cap of $3.51 billion, a P/E ratio of 19.68 and a beta of 1.55. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.32 and a quick ratio of 1.30.
Subsea 7 (OTCMKTS:SUBCY) last released its quarterly earnings data on Thursday, May 2nd. The energy company reported ($0.06) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.07). Subsea 7 had a return on equity of 3.03% and a net margin of 4.22%. The business had revenue of $859.20 million during the quarter, compared to the consensus estimate of $757.00 million. On average, equities research analysts anticipate that Subsea 7 will post 0.19 EPS for the current year.
Subsea 7 Company Profile
Subsea 7 SA delivers offshore projects and services for the evolving energy industry worldwide. It provides subsea field development products and services, including project management, design and engineering, procurement, fabrication, survey, installation, and commissioning of production facilities on the seabed and the tie-back of its facilities to fixed or floating platforms or to the shore.
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