Todays Report: The McDermott International Inc. (MDR) Short Interest Down 18.2% in October

The McDermott International Inc. (MDR) Short Interest Down 18.2% in October

McDermott International Inc. (NYSE:MDR) saw a significant decline in short interest in the month of October. As of October 14th, there was short interest totalling 23,253,842 shares, a decline of 18.2% from the September 30th total of 28,416,135 shares. Based on an average daily trading volume, of 2,624,910 shares, the short-interest ratio is presently 8.9 days. Approximately 9.8% of the shares of the company are sold short.

Shares of McDermott International (NYSE:MDR) opened at 5.37 on Monday. The stock has a market capitalization of $1.30 billion, a P/E ratio of 91.02 and a beta of 1.21. McDermott International has a 1-year low of $2.20 and a 1-year high of $6.00. The company has a 50 day moving average price of $5.07 and a 200-day moving average price of $4.86.

McDermott International (NYSE:MDR) last announced its quarterly earnings results on Tuesday, October 25th. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.16. The business had revenue of $558.54 million for the quarter, compared to analysts’ expectations of $630.05 million. McDermott International had a return on equity of 6.41% and a net margin of 0.60%. The business’s quarterly revenue was down 30.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.09 EPS. On average, equities research analysts forecast that McDermott International will post $0.20 EPS for the current fiscal year.

Several hedge funds have recently made changes to their positions in MDR. Amalgamated Bank boosted its stake in shares of McDermott International by 2.9% in the second quarter. Amalgamated Bank now owns 26,388 shares of the company’s stock worth $132,000 after buying an additional 736 shares during the last quarter. Moors & Cabot Inc. boosted its stake in shares of McDermott International by 2.0% in the second quarter. Moors & Cabot Inc. now owns 50,500 shares of the company’s stock worth $245,000 after buying an additional 1,000 shares during the last quarter. ProShare Advisors LLC boosted its stake in shares of McDermott International by 4.0% in the second quarter. ProShare Advisors LLC now owns 32,096 shares of the company’s stock worth $159,000 after buying an additional 1,249 shares during the last quarter. California State Teachers Retirement System boosted its stake in shares of McDermott International by 0.3% in the second quarter. California State Teachers Retirement System now owns 507,011 shares of the company’s stock worth $2,505,000 after buying an additional 1,619 shares during the last quarter. Finally, Pinnacle Holdings LLC boosted its stake in shares of McDermott International by 1.1% in the first quarter. Pinnacle Holdings LLC now owns 151,788 shares of the company’s stock worth $621,000 after buying an additional 1,620 shares during the last quarter. Institutional investors and hedge funds own 78.97% of the company’s stock.

Several research firms have commented on MDR. TheStreet raised McDermott International from a “sell” rating to a “hold” rating in a research report on Monday, October 24th. Zacks Investment Research raised McDermott International from a “hold” rating to a “strong-buy” rating and set a $6.00 price target on the stock in a research report on Friday, July 29th. Imperial Capital lifted their price target on McDermott International from $6.00 to $7.00 and gave the stock an “outperform” rating in a research report on Thursday, July 28th. Citigroup Inc. lifted their target price on McDermott International from $5.00 to $6.00 and gave the company a “neutral” rating in a research note on Wednesday, July 27th. Finally, Deutsche Bank AG lifted their target price on McDermott International from $4.00 to $5.00 and gave the company a “hold” rating in a research note on Wednesday, October 26th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $5.15.

McDermott International Company Profile

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