McDermott International (MDR) is Reiterated by Imperial Capital to Outperform, Raises Price Target to $ 7

McDermott International (MDR) was Reiterated by Imperial Capital to “Outperform” according to the research note released today. The brokerage firm has raised the Price Target to $ 7 from a previous price target of $6 . Imperial Capital advised their investors in a research report released on Jul 28, 2016.

Many Wall Street Analysts have commented on McDermott International. McDermott International was Initiated by Sterne Agee CRT to “Neutral” on May 24, 2016.

On the company’s financial health, McDermott International reported $0.13 EPS for the quarter, beating the analyst consensus estimate by $ 0.11 according to the earnings call on May 5, 2016. Analyst had a consensus of $0.02. The company had revenue of $729.00 million for the quarter, compared to analysts expectations of $700.70 million. The company’s revenue was up 32.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.04 EPS.

McDermott International closed down -0.02 points or -0.39% at $5.12 with 33,92,014 shares getting traded on Thursday. Post opening the session at $5.02, the shares hit an intraday low of $5 and an intraday high of $5.18 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

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 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.

McDermott International

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