McDermott Int'l (MDR) Stock Up on Earnings Beat

McDermott Int'l (MDR) stock is rising on Tuesday after the company reported its 2015 third quarter earnings results.
By Amanda Albright ,

NEW YORK (TheStreet) -- McDermott International (MDR) - Get Report stock is rising by 6.67% to $5.60 in mid-morning trading on Tuesday, after the company reported its 2015 third quarter earnings results.

After the market close on Monday, the offshore oil and gas production company, which operates in the Middle East, Asia Pacific and Americas, reported adjusted earnings of 9 cents per share.

Revenue increased to $805.9 million, up from $414.6 million for the prior-year period.

Analysts surveyed by Thomson Reuters were expecting the company to report a loss of 5 cents per share on revenue of $1.04 billion. 

"While the macro commodity price environment remains challenging and our customers are assessing a lower for longer commodity price scenario, we continue to see project opportunities moving forward in the offshore brownfield markets and with our key Middle East customers," CEO David Dickson said in a statement. 

Separately, TheStreet Ratings team rates MCDERMOTT INTL INC as a Hold with a ratings score of C-. TheStreet Ratings Team has this to say about their recommendation:

We rate MCDERMOTT INTL INC (MDR) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, solid stock price performance and impressive record of earnings per share growth. However, as a counter to these strengths, we find that the company's profit margins have been poor overall.

You can view the full analysis from the report here: MDR

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Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of Jim Cramer, TheStreet or any of its contributors.

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