Zacks Research Downgrades Subsea 7 (OTCMKTS:SUBCY) to Hold

Subsea 7 (OTCMKTS:SUBCY – Get Free Report) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Thursday,Zacks.com reports.

SUBCY has been the topic of a number of other reports. Barclays downgraded shares of Subsea 7 from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 20th. UBS Group restated an “overweight” rating on shares of Subsea 7 in a research report on Monday. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold”.

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Subsea 7 Stock Up 3.0%

SUBCY stock opened at $37.24 on Thursday. Subsea 7 has a 52 week low of $15.87 and a 52 week high of $37.25. The company has a market capitalization of $11.01 billion, a price-to-earnings ratio of 22.44 and a beta of 1.12. The firm’s 50-day moving average is $31.01 and its two-hundred day moving average is $25.02. The company has a current ratio of 1.11, a quick ratio of 1.09 and a debt-to-equity ratio of 0.09.

Subsea 7 (OTCMKTS:SUBCY – Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The energy company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.03). Subsea 7 had a return on equity of 11.38% and a net margin of 6.67%.The company had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.62 billion. On average, analysts forecast that Subsea 7 will post 2.08 earnings per share for the current fiscal year.

About Subsea 7

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Subsea 7 SA is a global engineering, construction and services contractor serving the offshore energy industry. The company specializes in complex subsea infrastructure projects, offering pipeline and riser installation, umbilical and flowline deployment, and subsea tie-ins. Its fleet of specialized vessels, diving systems and remotely operated vehicles (ROVs) supports installation, inspection, maintenance and repair activities across the life cycle of offshore oil, gas and renewable energy fields.

With roots tracing back to the merger of Subsea 7 Inc and Acergy SA in 2011, Subsea 7 has built a broad international footprint.

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