Price Action Report: McDermott International Stock Price Increases Today

Price Action Report: McDermott International Stock Price Increases Today

The stock of McDermott International (NYSE:MDR) is a huge mover today! About 3.49M shares traded hands or 17.91% up from the average. McDermott International (NYSE:MDR) has risen 38.66% since April 27, 2016 and is uptrending. It has outperformed by 33.43% the S&P500.
The move comes after 8 months positive chart setup for the $1.61B company. It was reported on Nov, 30 by Barchart.com. We have $7.24 PT which if reached, will make NYSE:MDR worth $112.70M more.

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. The stock of McDermott International (NYSE:MDR) earned “Sector Outperform” rating by Howard Weil on Monday, March 28. The company was initiated on Tuesday, May 24 by Sterne Agee CRT. The company was initiated on Friday, November 13 by Citigroup. The rating was maintained by DA Davidson with “Neutral” on Monday, March 14. The firm has “Outperform” rating given on Thursday, September 17 by Imperial Capital. The stock of McDermott International (NYSE:MDR) has “Underweight” rating given on Tuesday, April 19 by Morgan Stanley. The firm has “Hold” rating by Deutsche Bank given on Wednesday, October 26. The stock of McDermott International (NYSE:MDR) earned “Neutral” rating by Credit Suisse on Monday, April 4. The company was maintained on Wednesday, July 27 by Citigroup. The stock of McDermott International (NYSE:MDR) earned “Outperform” rating by Imperial Capital on Thursday, September 3.

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 Q2 2016. Its up 0.01, from 1.22 in 2016Q1. The ratio increased, 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.
Ellington Mgmt Group Lc has 0.12% invested in the company for 18,100 shares. Concert Wealth Inc accumulated 0.05% or 67,800 shares. Connor Clark Lunn Invest reported 140,600 shares or 0.01% of all its holdings. The Ontario – Canada-based Royal Savings Bank Of Canada has invested 0% in McDermott International (NYSE:MDR). Tocqueville Asset Management Ltd Partnership last reported 0.08% of its portfolio in the stock. Clarivest Asset Management Ltd holds 0.03% or 237,165 shares in its portfolio. Nj State Employees Deferred Compensation Plan has 0.04% invested in the company for 35,000 shares. Bridgeway Capital Inc last reported 0.14% of its portfolio in the stock. Newgate Management Limited reported 57,162 shares or 0.23% of all its holdings. Guggenheim Capital Llc owns 116,523 shares or 0% of their US portfolio. Prudential Public Ltd Com has 544,265 shares for 0.01% of their US portfolio. Moreover, Aston Asset Limited Company has 0.93% invested in McDermott International (NYSE:MDR) for 310,475 shares. Blackrock Institutional Trust Na last reported 0% of its portfolio in the stock. Moreover, Canada Pension Plan Inv Board has 0% invested in McDermott International (NYSE:MDR) for 94,000 shares. Creative Planning holds 0% or 85,582 shares in its portfolio.

Another recent and important McDermott International (NYSE:MDR) news was published by Nasdaq.com which published an article titled: “Zacks.com featured highlights: Forestar Real Estate Group, McDermott …” on November 30, 2016.

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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