McDermott International(NYSE:MDR) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Jul 26, 2016. Company reported revenue of $706.63M. Analysts estimated a revenue of $753.43M. Earnings per share were $0.08. Analysts had estimated an EPS of $0.02.
In a different note, Sterne Agee said it Initiates Coverage on McDermott International, according to a research note issued on May 24, 2016. The shares have been rated ‘Neutral’ by the firm.
McDermott International (MDR) made into the market gainers list on Fridays trading session with the shares advancing 1.17% or 0.06 points. Due to strong positive momentum, the stock ended at $5.18, which is also near the day’s high of $5.2. The stock began the session at $5.07 and the volume stood at 23,69,565 shares. The 52-week high of the shares is $6 and the 52 week low is $2.2. The company has a current market capitalization of $1,246 M and it has 24,05,71,660 shares in outstanding.
McDermott International Inc. is an engineering procurement construction and installation (EPCI) company focused on designing and executing offshore oil and gas projects across the world. The Companys operating segments include Asia Pacific Americas Middle East and North Sea and Africa. The Asia Pacific segment serves customers in Australia Indonesia Vietnam Malaysia Thailand and India. The Americas segment serves customers in the United States Brazil Mexico Trinidad and Africa. The Middle East segment includes its North Sea and Africa operations which serves customers in Saudi Arabia Qatar the United Arab Emirates (U.A.E.) Kuwait India Azerbaijan Russia the North Sea and Africa. It delivers fixed and floating production facilities pipeline installations and subsea systems from concept to commissioning. Its customers include national integrated and other oil and gas companies and it operates in offshore oil and gas producing regions throughout the world.