NEW YORK (TheStreet) -- McDermott International
(MDR - Get Report) stock is sliding on Thursday after the oil services provider reported first-quarter revenue lower than anticipated and net losses wider than expected.
By late morning, shares had tumbled 5.6% to $6.74.
Over its March-ending quarter, the company reported revenue of $603.8 million and net losses of 21 cents a share. Analysts surveyed by Thomson Reuters anticipated revenue of $664.56 million and net losses of 12 cents a share.
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TheStreet Ratings team rates MCDERMOTT INTL INC as a Sell with a ratings score of D+. TheStreet Ratings Team has this to say about their recommendation:
"We rate MCDERMOTT INTL INC (MDR) a SELL. This is driven by a number of negative factors, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, disappointing return on equity, weak operating cash flow, generally disappointing historical performance in the stock itself and feeble growth in its earnings per share."
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