Subsea 7 (OTCMKTS:SUBCY) Shares Gap Down – Here’s What Happened

Shares of Subsea 7 SA (OTCMKTS:SUBCY) gapped down before the market opened on Wednesday . The stock had previously closed at $36.74, but opened at $35.15. Subsea 7 shares last traded at $35.0060, with a volume of 653 shares changing hands.

Analysts Set New Price Targets

Several research firms have recently weighed in on SUBCY. UBS Group reaffirmed a “buy” rating on shares of Subsea 7 in a report on Wednesday, August 5th. 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, Rothschild & Co Redburn raised shares of Subsea 7 from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy”.

Subsea 7 Stock Down 0.8%

The business has a 50-day moving average price of $34.72 and a 200-day moving average price of $32.75. The stock has a market cap of $10.37 billion, a PE ratio of 17.03 and a beta of 1.12. 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 quarterly earnings results on Thursday, July 30th. The energy company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.64 by $0.21. The company had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.91 billion. Subsea 7 had a net margin of 8.15% and a return on equity of 13.89%. As a group, analysts forecast that Subsea 7 SA will post 2.66 earnings per share for the current 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.