Subsea 7 (OTCMKTS:SUBCY) Trading 3.9% Higher – Here’s What Happened

Subsea 7 SA (OTCMKTS:SUBCY)’s share price shot up 3.9% on Monday . The stock traded as high as $36.85 and last traded at $36.8405. Approximately 1,352 shares changed hands during mid-day trading, a decline of 95% from the average daily volume of 25,855 shares. The stock had previously closed at $35.47.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Rothschild & Co Redburn raised Subsea 7 from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 23rd. Zacks Research lowered shares of Subsea 7 from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 14th. Finally, UBS Group reaffirmed a “buy” rating on shares of Subsea 7 in a research note on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Subsea 7 currently has an average rating of “Moderate Buy”.

Subsea 7 Price Performance

The business has a 50-day moving average price of $34.61 and a 200 day moving average price of $32.48. The company has a market cap of $10.85 billion, a price-to-earnings ratio of 17.82 and a beta of 1.10. The company has a current ratio of 1.04, a quick ratio of 1.02 and a debt-to-equity ratio of 0.07.

Subsea 7 (OTCMKTS:SUBCY) last issued its earnings results on Thursday, July 30th. The energy company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.21. Subsea 7 had a return on equity of 13.89% and a net margin of 8.15%.The business had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.91 billion. As a group, research analysts expect that Subsea 7 SA will post 2.66 earnings per share for the current fiscal year.

About Subsea 7

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.