McDermott International (NYSE: MDR) was upgraded by research analysts at Howard Weil from a “market perform” rating to an “outperform” rating in a report released on Monday. The firm currently has a $16.00 target price on the stock.
Shares of McDermott International traded down 2.90% during mid-day trading on Monday, hitting $9.70. McDermott International has a one year low of $9.34 and a one year high of $23.56. The company has a market cap of $2.280 billion and a P/E ratio of 17.05.
McDermott International last issued its quarterly earnings data on Wednesday, February 29th. The company reported $0.04 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.20 by $0.16. The company’s quarterly revenue was up 51.2% on a year-over-year basis. On average, analysts predict that McDermott International will post $0.21 earnings per share next quarter.
Several other analysts have also recently commented on the stock. Analysts at JPMorgan Chase (NYSE: JPM) initiated coverage on shares of McDermott International in a research note to investors on Tuesday, April 10th. They set a “neutral” rating and a $14.50 price target on the stock. Separately, analysts at Zacks upgraded shares of McDermott International from an “underperform” rating to a “neutral” rating in a research note to investors on Monday, April 2nd. They now have a $13.00 price target on the stock. Finally, analysts at UBS AG (NYSE: UBS) raised their price target on shares of McDermott International from $14.00 to $18.00 in a research note to investors on Friday, March 2nd. They now have a “buy” rating on the stock.
McDermott International, Inc. (MII) is an engineering, procurement, construction and installation (EPCI) company.