Subsea 7 (OTCMKTS:SUBCY) Sets New 52-Week High – Here’s What Happened

Shares of Subsea 7 SA (OTCMKTS:SUBCY) hit a new 52-week high on Monday . The stock traded as high as $26.06 and last traded at $26.03, with a volume of 3034 shares. The stock had previously closed at $24.73.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on SUBCY. Zacks Research upgraded Subsea 7 from a “hold” rating to a “strong-buy” rating in a report on Monday, December 29th. UBS Group restated a “neutral” rating on shares of Subsea 7 in a research report on Friday, January 30th. Two analysts have rated the stock with a Strong Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy”.

Subsea 7 Stock Up 3.9%

The company has a market cap of $7.74 billion, a P/E ratio of 27.29 and a beta of 1.13. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.00 and a current ratio of 1.02. The firm’s 50-day simple moving average is $21.51 and its 200 day simple moving average is $20.31.

Subsea 7 (OTCMKTS:SUBCY) last released its quarterly earnings results on Thursday, November 20th. The energy company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.07). The firm had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.89 billion. Subsea 7 had a net margin of 4.08% and a return on equity of 6.66%. On average, research analysts forecast that Subsea 7 SA will post 0.86 earnings per share for the current fiscal year.

Subsea 7 Company Profile

Subsea 7 SA is a global engineering, construction and services contractor serving the offshore energy industry. The company specializes in complex subsea infrastructure projects, offering pipeline and riser installation, umbilical and flowline deployment, and subsea tie-ins. Its fleet of specialized vessels, diving systems and remotely operated vehicles (ROVs) supports installation, inspection, maintenance and repair activities across the life cycle of offshore oil, gas and renewable energy fields.

With roots tracing back to the merger of Subsea 7 Inc and Acergy SA in 2011, Subsea 7 has built a broad international footprint.