McDermott International (NYSE: MDR) recently received a number of ratings updates from brokerages and research firms:

  • 1/20/2016 – McDermott International was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $3.00 price target on the stock. According to Zacks, “Despite the weak commodity pricing environment, McDermott International has maintained its excellent track record of earnings surprise history, beating estimates handily in each of the last four quarters. This leading global energy-focused engineering and construction firm has embarked on a major cost savings initiative to shore up its finances and turn around. Among other positives, McDermott received a large number of new contacts of late, thus adding to its already robust backlog. Though some investors might be worried about the company's immediate future due to the cyclical downturn across the markets it serve, we believe McDermott's broad product portfolio insulates the operations to a large extent and increases its attractiveness as an investment.”
  • 1/16/2016 – McDermott International was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Leading global engineering and construction firm McDermott International has embarked on a major cost savings initiative to shore up its finances and turn around. On another positive note, the company received a large number of new contacts of late, thus adding to its already robust backlog. Additionally, Mcdermott's broad product portfolio insulates the operations to a large extent. But with half of its current backlog related to offshore operations, the company remains susceptible to the pricing weakness that has affected the offshore drilling industry as well as the energy sector at large. This accounts for our conservative stance on McDermott.”
  • 1/15/2016 – McDermott International had its price target lowered by analysts at Citigroup Inc. from $6.00 to $3.00. They now have a “neutral” rating on the stock.
  • 1/11/2016 – McDermott International was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $3.00 price target on the stock. According to Zacks, “Despite the weak commodity pricing environment, McDermott International has maintained its excellent track record of earnings surprise history, beating estimates handily in each of the last four quarters. This leading global energy-focused engineering and construction firm has embarked on a major cost savings initiative to shore up its finances and turn around. Among other positives, McDermott received a large number of new contacts of late, thus adding to its already robust backlog. Though some investors might be worried about the company's immediate future due to the cyclical downturn across the markets it serve, we believe McDermott's broad product portfolio insulates the operations to a large extent and increases its attractiveness as an investment.”
  • 1/4/2016 – McDermott International was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Leading global engineering and construction firm McDermott International has embarked on a major cost savings initiative to shore up its finances and turn around. On another positive note, the company received a large number of new contacts of late, thus adding to its already robust backlog. Additionally, Mcdermott's broad product portfolio insulates the operations to a large extent. But with half of its current backlog related to offshore operations, the company remains susceptible to the pricing weakness that has affected the offshore drilling industry as well as the energy sector at large. This accounts for our conservative stance on McDermott.”
  • 12/23/2015 – McDermott International was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $4.00 price target on the stock. According to Zacks, “Despite the weak commodity pricing environment, McDermott International has maintained its excellent track record of earnings surprise history, beating estimates handily in each of the last four quarters. This leading global energy-focused engineering and construction firm has embarked on a major cost savings initiative to shore up its finances and turn around. Among other positives, McDermott received a large number of new contacts of late, thus adding to its already robust backlog. Though some investors might be worried about the company's immediate future due to the cyclical downturn across the markets it serve, we believe McDermott's broad product portfolio insulates the operations to a large extent and increases its attractiveness as an investment.”
  • 12/21/2015 – McDermott International was downgraded by analysts at TheStreet from a “hold” rating to a “sell” rating.
  • 12/14/2015 – McDermott International was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Leading global engineering and construction firm McDermott International has embarked on a major cost savings initiative to shore up its finances and turn around. On another positive note, the company received a large number of new contacts of late, thus adding to its already robust backlog. Additionally, Mcdermott's broad product portfolio insulates the operations to a large extent. But with half of its current backlog related to offshore operations, the company remains susceptible to the pricing weakness that has affected the offshore drilling industry as well as the energy sector at large. This accounts for our conservative stance on McDermott.”
  • 12/8/2015 – McDermott International was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $4.25 price target on the stock. According to Zacks, “Despite the weak commodity pricing environment, McDermott International has maintained its excellent track record of earnings surprise history, beating estimates handily in each of the last four quarters. This leading global energy-focused engineering and construction firm has embarked on a major cost savings initiative to shore up its finances and turn around. Among other positives, McDermott received a large number of new contacts of late, thus adding to its already robust backlog. Though some investors might be worried about the company's immediate future due to the cyclical downturn across the markets it serve, we believe McDermott's broad product portfolio insulates the operations to a large extent and increases its attractiveness as an investment.”
  • 12/7/2015 – McDermott International was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “McDermott International has maintained its excellent track record of earnings surprise history, beating estimates handily in each of the last four quarters. This leading global energy-focused engineering and construction firm has embarked on a major cost savings initiative to shore up its finances and turn around. Among other positives, McDermott received a large number of new contacts of late, thus adding to its already robust backlog. However, since more than half of the McDermott’s current backlog is related to offshore operations it remains susceptible to the pricing weakness that has affected the offshore drilling industry as well as the energy sector at large.”
  • 12/1/2015 – McDermott International was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $5.00 price target on the stock. According to Zacks, “Despite the weak commodity pricing environment, McDermott International has maintained its excellent track record of earnings surprise history, beating estimates handily in each of the last four quarters. This leading global energy-focused engineering and construction firm has embarked on a major cost savings initiative to shore up its finances and turn around. Among other positives, McDermott received a large number of new contacts of late, thus adding to its already robust backlog. Though some investors might be worried about the company's immediate future due to the cyclical downturn across the markets it serve, we believe McDermott's broad product portfolio insulates the operations to a large extent and increases its attractiveness as an investment.”
  • 11/30/2015 – McDermott International was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Leading global engineering and construction firm McDermott International has embarked on a major cost savings initiative to shore up its finances and turn around. On another positive note, the company received a large number of new contacts of late, thus adding to its already robust backlog. Additionally, Mcdermott's broad product portfolio insulates the operations to a large extent. However, since more than half of McDermott’s current backlog is related to offshore operations it remains susceptible to the pricing weakness that has affected the offshore drilling industry as well as the energy sector at large.”

Shares of McDermott International (NYSE:MDR) opened at 2.69 on Wednesday. McDermott International has a 1-year low of $2.13 and a 1-year high of $6.00. The stock has a market capitalization of $642.83 million and a price-to-earnings ratio of 92.76. The firm’s 50-day moving average is $3.16 and its 200-day moving average is $4.34.

McDermott International (NYSE:MDR) last issued its quarterly earnings data on Monday, November 9th. The company reported $0.09 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.14. The company had revenue of $805.90 million for the quarter, compared to the consensus estimate of $753.43 million. The firm’s revenue was up 94.4% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.14) earnings per share. On average, analysts predict that McDermott International will post ($0.03) earnings per share for the current fiscal year.

McDermott International, Inc. is an engineering, procurement, construction and installation (NYSE:MDR) company focused on designing and executing offshore oil and gas projects across the world. The Company’s operating segments include Asia Pacific, Americas, Middle East and North Sea and Africa. The Asia Pacific segment serves customers in Australia, Indonesia, Vietnam, Malaysia, Thailand and India. The Americas segment serves customers in the United States, Brazil, Mexico, Trinidad and Africa. The Middle East segment includes its North Sea and Africa operations, which serves customers in Saudi Arabia, Qatar, the United Arab Emirates (U.A.E.), Kuwait, India, Azerbaijan, Russia, the North Sea and Africa. It delivers fixed and floating production facilities, pipeline installations and subsea systems from concept to commissioning. Its customers include national, integrated and other oil and gas companies, and it operates in offshore oil and gas producing regions throughout the world.

12 Month Chart for NYSE:MDR

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