McDermott International (MDR) : Analyst Rating Update

McDermott International (MDR) : The consensus on McDermott International (MDR) based on 9 analyst recommendation on the company stock is 2.63, which is interpreted as a Hold recommendation. Zacks Investment Research has issued a rank of 1 which endorses a Strong Buy on the stock. However, 2 brokers have a differing view as they consider the stock to be a Strong Buy at current levels. 6 experts consider that the stocks earnings and the quoted price is in harmony, hence, they give it a Hold rating. 1 analyst also believes that the downside risk to the stock is higher and suggests a Sell on McDermott International (MDR).

McDermott International (MDR) has been rated by 6 research analysts. Fundamentally, the highest shorterm price forecast for the stock is expected to reach $7 and the lowest price target forecast is $4. The average forecast of all the analysts is $5.08 and the expected standard deviation is $1.28.

McDermott International (NYSE:MDR): The stock opened at $4.75 on Wednesday but the bulls could not build on the opening and the stock topped out at $4.80 for the day. The stock traded down to $4.60 during the day, due to lack of any buying support eventually closed down at $4.78 with a loss of -0.83% for the day. The stock had closed at $4.82 on the previous day. The total traded volume was 2,182,519 shares.

Also, Sterne Agee initiates coverage on McDermott International (NYSE:MDR) The brokerage firm has issued a Neutral rating on the shares. The rating by the firm was issued on May 24, 2016. The company shares have rallied 1.05% from its 1 Year high price. On Nov 11, 2015, the shares registered one year high at $6.00 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $4.75 and the 200 Day Moving Average price is recorded at $3.84.

McDermott International, Inc. is an engineering, procurement, construction and installation (EPCI) company focused on designing and executing offshore oil and gas projects across the world. The Companys 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.

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