Subsea 7 (OTCMKTS:SUBCY) Trading Down 6.2% – Here’s Why

Subsea 7 SA (OTCMKTS:SUBCY – Get Free Report)’s stock price was down 6.2% during trading on Thursday . The company traded as low as $34.58 and last traded at $34.69. Approximately 889 shares changed hands during mid-day trading, a decline of 97% from the average daily volume of 32,078 shares. The stock had previously closed at $37.00.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on SUBCY shares. UBS Group reissued an “overweight” rating on shares of Subsea 7 in a research report on Monday, May 11th. Zacks Research cut shares of Subsea 7 from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 14th. Finally, Barclays cut shares of Subsea 7 from a “strong-buy” rating to a “hold” rating in a report on Monday, April 20th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold”.

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Subsea 7 Stock Performance

The stock has a market cap of $10.17 billion, a price-to-earnings ratio of 20.72 and a beta of 1.12. The stock’s 50 day moving average is $31.65 and its two-hundred day moving average is $25.45. 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 issued its quarterly earnings results on Thursday, April 30th. The energy company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.03). The business had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.62 billion. Subsea 7 had a return on equity of 11.38% and a net margin of 6.67%. Analysts anticipate that Subsea 7 SA will post 2.29 earnings per share for the current fiscal year.

Subsea 7 Company Profile

(Get Free Report)

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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