5.97 +0.09 (1.53%)
After hours: 5:03PM EDT
|Bid||5.90 x 1100|
|Ask||5.89 x 4000|
|Day's Range||5.70 - 6.12|
|52 Week Range||3.83 - 19.44|
|Beta (3Y Monthly)||4.57|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
McDermott (MDR) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
Moody's Investors Service ("Moody's") downgraded McDermott Technology (Americas), Inc.'s (McDermott) corporate family rating to B2 from B1, its probability of default rating to B2-PD from B1-PD, its senior secured credit facilities rating to B1 from Ba3, and its senior unsecured notes rating to Caa1 from B3. At the same time, Moody's downgraded McDermott's speculative grade liquidity rating to SGL-3 from SGL-2.
The company is moving into a 524,323-square-foot building in the Energy Corridor that was completed in 2016 but never occupied.
Moody's Investors Service ("Moody's") noted that McDermott Technology (Americas), Inc. (B1 stable) reported financial results on 29 July and revised its earnings guidance lower and reduced the amount it expects to receive from asset sales. McDermott Technology (Americas), Inc., is an operating subsidiary of McDermott International, Inc., which is a fully-integrated provider of engineering, procurement, construction, installation and technology solutions to the energy industry.
Investing.com – Engineering and construction company McDermott International slumped to a 15-year low on Tuesday after warning it would swing to an annual loss amid a lack of new business and customer wins.
Shares of McDermott International Inc. plummeted 37% on heavy volume in morning trading Tuesday, to pace all NYSE decliners, after the provider of engineering and construction services to the energy industry reported a surprise second-quarter loss and revenue that missed, and projected a surprise full-year loss. Trading volume was 11.6 million shares, making it the second-most active NYSE stock and already more than triple the full-day average. The stock earlier hit an intraday low of $5.80, which was the lowest price seen during regular-session hours since September 2004, before paring some losses. The company provided 4 reasons for its revised 2019 outlook: 1) weaker-than-expected Q2 operating results; 2) "slippage" in certain new awards and customer changes to schedule on several projects; 3) changes to assumptions about the expected performance of legacy CB&I projects; and 4) a shift to 2020 from the fourth-quarter of 2019 in the assumed timing of remaining incentives on the Cameron liquefied natural gas (LNG) project. The stock has not lost 2.3% year to date, while the S&P 500 has gained 20.0%.
McDermott International plummets after the engineering and construction company missed Wall Street's second-quarter revenue expectations and lowered its guidance for the full year.
McDermott (MDR) delivered earnings and revenue surprises of -187.50% and -5.89%, respectively, for the quarter ended June 2019. Do the numbers hold clues to what lies ahead for the stock?
The energy sector's second-quarter 2019 earnings and revenues are expected to decline 17.6% and 2.6%, respectively, from the year-ago period.
McDermott (MDR) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
The Zacks Analyst Blog Highlights: Callon Petroleum, Carrizo Oil & Gas, McDermott International and Occidental Petroleum
Shale producer Callon Petroleum (CPE) agreed to buy smaller E&P player Carrizo Oil & Gas (CRZO) for $3.2 billion, while McDermott International (MDR) clinched twin contracts from Saudi Aramco.
The value of McDermott's (MDR) latest FEED contract, which is expected within $1-$50 million, is going to be reflected in second-quarter 2019 backlog.
The value of McDermott's (MDR) latest FEED contract, which is expected within $1-$50 million, will be reflected in second-quarter 2019 backlog.
The Houston company's $3 billion and $1.5 billion EPCI offshore contracts were the largest Saudi Aramco awarded for the Marjan increment development program.