Today’s Price Action: A Reversal for McDermott International Is Not Near. The Stock Rises Again

Today's Price Action: A Reversal for McDermott International Is Not Near. The Stock Rises Again

The stock of McDermott International (NYSE:MDR) is a huge mover today! About 3.54M shares traded hands or 35.63% up from the average. McDermott International (NYSE:MDR) has risen 51.57% since February 26, 2016 and is uptrending. It has outperformed by 41.15% the S&P500.
The move comes after 6 months positive chart setup for the $1.21B company. It was reported on Oct, 1 by We have $6.39 PT which if reached, will make NYSE:MDR worth $350.90M more.

Analysts await McDermott International (NYSE:MDR) to report earnings on November, 14. They expect $-0.06 EPS, down 166.67% or $0.15 from last year’s $0.09 per share. After $0.08 actual EPS reported by McDermott International for the previous quarter, Wall Street now forecasts -175.00% negative EPS growth.

McDermott International (NYSE:MDR) Ratings Coverage

Out of 8 analysts covering McDermott International (NYSE:MDR), 2 rate it a “Buy”, 1 “Sell”, while 5 “Hold”. This means 25% are positive. McDermott International has been the topic of 15 analyst reports since August 12, 2015 according to StockzIntelligence Inc. The rating was initiated by Citigroup on Friday, November 13 with “Neutral”. On Thursday, September 17 the stock rating was maintained by Imperial Capital with “Outperform”. The rating was maintained by Citigroup on Wednesday, July 27 with “Neutral”. The firm has “Underweight” rating given on Tuesday, April 19 by Morgan Stanley. The stock of McDermott International (NYSE:MDR) earned “Sector Outperform” rating by Howard Weil on Monday, March 28. The stock of McDermott International (NYSE:MDR) has “Neutral” rating given on Tuesday, May 24 by Sterne Agee CRT. The firm earned “Neutral” rating on Monday, March 14 by DA Davidson. Credit Suisse downgraded the stock to “Neutral” rating in Monday, April 4 report. The firm earned “Outperform” rating on Thursday, September 3 by Imperial Capital.

According to Zacks Investment Research, “McDermott International is one of the leading worldwide energy services companies. The company’s subsidiaries manufacture steam-generating equipment, environmental equipment, and products for the U.S. government. They also provide engineering and construction services for industrial, utility, and hydrocarbon processing facilities, and to the offshore oil and natural gas industry. (Company Press Release)”

Insitutional Activity: The institutional sentiment increased to 1.22 in Q2 2016. Its up 0.21, from 1.01 in 2016Q1. The ratio improved, as 18 funds sold all McDermott International shares owned while 68 reduced positions. 39 funds bought stakes while 66 increased positions. They now own 188.30 million shares or 1.08% less from 190.35 million shares in 2016Q1.
Tower Research Cap Limited (Trc) holds 11,017 shares or 0.01% of its portfolio. Sandy Spring Comml Bank has 875 shares for 0% of their US portfolio. Allianz Asset Mngmt Ag accumulated 0% or 640,923 shares. Towle Communication reported 4.08 million shares or 3.72% of all its holdings. Advisory Svcs Network Limited Co has 0% invested in the company for 3,000 shares. Cubist Systematic Strategies Limited Com last reported 5,094 shares in the company. Mount Kellett Mgmt L P accumulated 4.43M shares or 31.82% of the stock. Duncker Streett Incorporated accumulated 0% or 150 shares. Pacad Inv holds 0.04% of its portfolio in McDermott International (NYSE:MDR) for 61,900 shares. Atria Limited Liability Company accumulated 0.01% or 22,169 shares. Nordea Investment holds 0% or 208,000 shares in its portfolio. Fairpointe Cap Ltd, a Illinois-based fund reported 21.21 million shares. Moreover, Kistler has 0% invested in McDermott International (NYSE:MDR) for 1,000 shares. Campbell & Invest Adviser Limited Liability Com reported 13,283 shares or 0.33% of all its holdings. First Heartland Consultants Inc holds 196,200 shares or 0.11% of its portfolio.

MDR Company Profile

McDermott International, Inc., incorporated on August 11, 1959, is a well-known provider of integrated engineering, procurement, construction and installation (EPCI) and module fabrication services for upstream field developments. The Firm delivers fixed and floating production facilities, pipeline installations and subsea systems from concept to commissioning for complex offshore and subsea gas and oil projects. The Firm operates through three divisions: the Americas, Europe and Africa (AEA); the Middle East (MEA), and Asia (ASA). Operating in approximately 20 countries across the Americas, Europe, Africa, the Middle East, Asia and Australia, its integrated resources include a fleet of marine vessels, fabrication facilities and engineering offices. The Firm supports its activities with project management and procurement services, while utilizing its integrated capabilities in both shallow water and deepwater construction. The Company’s clients include national, integrated and other gas and oil companies, and the Company operates in various offshore gas and oil producing regions throughout the world.

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