McDermott International Inc (NYSE:MDR) saw a significant growth in short interest in the month of September. As of September 30th, there was short interest totalling 79,130,000 shares, a growth of 62.6% from the August 30th total of 48,670,000 shares. Approximately 44.0% of the company’s stock are short sold. Based on an average daily volume of 15,450,000 shares, the short-interest ratio is currently 5.1 days.
Hedge funds have recently added to or reduced their stakes in the company. Phocas Financial Corp. grew its position in shares of McDermott International by 39.9% during the second quarter. Phocas Financial Corp. now owns 724,520 shares of the oil and gas company’s stock worth $69,989,000 after buying an additional 206,552 shares in the last quarter. Nuveen Asset Management LLC acquired a new stake in shares of McDermott International during the second quarter worth approximately $17,412,000. Bank of New York Mellon Corp grew its position in shares of McDermott International by 1.7% during the second quarter. Bank of New York Mellon Corp now owns 2,244,034 shares of the oil and gas company’s stock worth $21,677,000 after buying an additional 38,183 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in McDermott International by 112.4% in the second quarter. Tower Research Capital LLC TRC now owns 131,168 shares of the oil and gas company’s stock worth $1,267,000 after purchasing an additional 69,404 shares during the period. Finally, Boston Partners boosted its holdings in McDermott International by 15.0% in the second quarter. Boston Partners now owns 1,458,757 shares of the oil and gas company’s stock worth $14,092,000 after purchasing an additional 190,650 shares during the period. 88.97% of the stock is owned by institutional investors and hedge funds.
Shares of MDR stock traded up $0.09 during mid-day trading on Friday, reaching $2.04. 25,174,098 shares of the company were exchanged, compared to its average volume of 34,142,408. McDermott International has a fifty-two week low of $1.44 and a fifty-two week high of $16.61. The company has a debt-to-equity ratio of 7.01, a quick ratio of 0.68 and a current ratio of 0.69. The company has a market capitalization of $319.72 million, a P/E ratio of -2.06 and a beta of 3.11. The business’s 50 day simple moving average is $3.57 and its 200 day simple moving average is $6.77.
McDermott International (NYSE:MDR) last released its quarterly earnings results on Monday, July 29th. The oil and gas company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.15). McDermott International had a negative return on equity of 12.08% and a negative net margin of 33.95%. The company had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.25 billion. During the same period in the previous year, the business posted $0.29 EPS. The firm’s quarterly revenue was up 23.2% compared to the same quarter last year. On average, analysts forecast that McDermott International will post -0.33 EPS for the current year.
A number of analysts have recently weighed in on MDR shares. Citigroup decreased their price target on shares of McDermott International from $11.00 to $7.00 and set a “neutral” rating for the company in a research report on Wednesday, September 11th. ValuEngine downgraded shares of McDermott International from a “hold” rating to a “sell” rating in a research report on Wednesday, July 31st.
McDermott International Company Profile
McDermott International, Inc provides engineering, procurement, construction and installation, and technology solutions to the energy industry worldwide. It operates through five segments: North, Central and South America; Europe, Africa, Russia and Caspian; the Middle East and North Africa; Asia Pacific; and Technology.
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