Stock of the Day: What’s Next for McDermott International After Today’s Huge Decline?

Stock of the Day: What's Next for McDermott International After Today's Huge Decline?

The stock of McDermott International (NYSE:MDR) is a huge mover today! About 2.12 million shares traded hands. McDermott International (NYSE:MDR) has risen 36.78% since March 8, 2016 and is uptrending. It has outperformed by 27.46% the S&P500.
The move comes after 7 months negative chart setup for the $1.32 billion company. It was reported on Oct, 11 by We have $4.91 PT which if reached, will make NYSE:MDR worth $79.20 million less.

Analysts await McDermott International (NYSE:MDR) to report earnings on November, 14. They expect $-0.06 earnings per share, down 166.67% or $0.15 from last year’s $0.09 per share. After $0.08 actual earnings per share 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. Sterne Agee CRT initiated McDermott International (NYSE:MDR) on Tuesday, May 24 with “Neutral” rating. The firm has “Neutral” rating by DA Davidson given on Monday, March 14. Imperial Capital maintained it with “Outperform” rating and $7 target price in Thursday, September 17 report. Citigroup maintained it with “Neutral” rating and $6 target price in Wednesday, July 27 report. The firm has “Underweight” rating by Morgan Stanley given on Tuesday, April 19. The stock has “Outperform” rating given by Imperial Capital on Thursday, September 3. The stock has “Sector Outperform” rating given by Howard Weil on Monday, March 28. The firm earned “Neutral” rating on Friday, November 13 by Citigroup. The rating was downgraded by Credit Suisse to “Neutral” on Monday, April 4.

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.
Tiaa Cref Limited Liability Corporation holds 1.72M shares or 0.01% of its portfolio. Walleye Trading Ltd Liability Company accumulated 6,203 shares or 0% of the stock. Stifel Fincl accumulated 0% or 14,444 shares. The Wisconsin-based Netols Asset has invested 1.93% in McDermott International (NYSE:MDR). National Bank & Trust Of America Corp De has 172,622 shares for 0% of their US portfolio. Campbell And Investment Adviser Llc accumulated 13,283 shares or 0.33% of the stock. Argent Trust Com holds 0.02% or 12,000 shares in its portfolio. Fdx Advisors accumulated 32,483 shares or 0.01% of the stock. Canal holds 182,400 shares or 0.3% of its portfolio. Moreover, Prtnrs Lc has 0.16% invested in McDermott International (NYSE:MDR) for 419,900 shares. The Illinois-based First Advsrs Limited Partnership has invested 0.01% in McDermott International (NYSE:MDR). Geosphere Cap Management reported 620,000 shares or 3.02% of all its holdings. Etrade Cap Mngmt Lc holds 0.08% of its portfolio in McDermott International (NYSE:MDR) for 300,701 shares. Kanaly has 7,047 shares for 0.01% of their US portfolio. The Ontario – Canada-based Canada Pension Plan Invest Board has invested 0% in McDermott International (NYSE:MDR).

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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