The stock of McDermott International (NYSE:MDR) hit a new 52-week high and has $6.99 target or 7.00% above today’s $6.53 share price. The 5 months bullish chart indicates low risk for the $1.57 billion company. The 1-year high was reported on Nov, 28 by Barchart.com. If the $6.99 price target is reached, the company will be worth $109.90 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 4.86 million shares traded hands or 74.19% up from the average. McDermott International (NYSE:MDR) has risen 44.94% since April 25, 2016 and is uptrending. It has outperformed by 38.93% the S&P500.
Analysts await McDermott International (NYSE:MDR) to report earnings on February, 27. They expect $-0.01 EPS, down 116.67% or $0.07 from last year’s $0.06 per share. After $0.09 actual EPS reported by McDermott International for the previous quarter, Wall Street now forecasts -111.11% negative EPS growth.
McDermott International (NYSE:MDR) Ratings Coverage
Out of 9 analysts covering McDermott International (NYSE:MDR), 2 rate it a “Buy”, 1 “Sell”, while 6 “Hold”. This means 22% are positive. McDermott International has been the topic of 16 analyst reports since August 12, 2015 according to StockzIntelligence Inc. DA Davidson maintained McDermott International (NYSE:MDR) rating on Monday, March 14. DA Davidson has “Neutral” rating and $4 price target. As per Monday, April 4, the company rating was downgraded by Credit Suisse. As per Monday, March 28, the company rating was upgraded by Howard Weil. The company was initiated on Tuesday, May 24 by Sterne Agee CRT. Imperial Capital maintained the shares of MDR in a report on Thursday, September 3 with “Outperform” rating. The stock has “Outperform” rating given by Imperial Capital on Thursday, September 17. As per Friday, November 13, the company rating was initiated by Citigroup. The firm has “Hold” rating by Deutsche Bank given on Wednesday, October 26. The firm has “Neutral” rating given on Wednesday, July 27 by Citigroup. The firm earned “Underweight” rating on Tuesday, April 19 by Morgan Stanley.
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 1.23 in 2016 Q2. Its up 0.01, from 1.22 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.
Northern has invested 0% of its portfolio in McDermott International (NYSE:MDR). Ameritas Investment Prns accumulated 0.01% or 18,414 shares. Employees Retirement Association Of Colorado reported 66,904 shares or 0% of all its holdings. Towle And owns 4.08M shares or 3.72% of their US portfolio. Blackrock Gp Limited reported 263,385 shares or 0% of all its holdings. Klingenstein Fields & Communications Limited Liability Company last reported 0% of its portfolio in the stock. Ubs Asset Mgmt Americas holds 6.85 million shares or 0.04% of its portfolio. Blackrock Institutional Tru Com Na owns 6.19M shares or 0% of their US portfolio. Virginia Retirement Et Al has invested 0.01% of its portfolio in McDermott International (NYSE:MDR). Vanguard Grp accumulated 20.45M shares or 0.01% of the stock. Aperio Gru Ltd Liability Com has 0% invested in the company for 78,211 shares. Fincl Bank Of Ny Mellon owns 1.59M shares or 0% of their US portfolio. Bridgeway Mngmt accumulated 0.14% or 1.89 million shares. Clinton Gp, a New York-based fund reported 79,498 shares. Renaissance Technologies Limited Liability Company last reported 56,900 shares in the company.
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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