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Weakness Seen in McDermott International (MDR): Stock Tumbles 10.1%

McDermott International Inc. (MDR) saw a big move last session, as the company’s shares fell by over 10% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This continues the recent downtrend for MDR, as the stock is now down nearly 14% since Mar 24.

This slump shouldn’t be too much of a surprise to investors, as the oil field machines and equipments provider has seen 10 negative revisions in the past few weeks and its current year earnings consensus has moved lower over the last 30 days. This suggests there may be more trouble down the road. So make sure to keep an eye on this stock going forward to see if this recent slump will continue, as the earnings picture definitely suggests that this might be the case.

MDR currently has a Zacks Rank #4 (Sell) while its Earnings ESP is negative.

Some better-ranked stocks in the Oils-Energy sector include Clayton Williams Energy, Inc. (CWEI), Exterran Holdings, Inc. (EXH) and Range Resources Corporation (RRC). All these stocks carry a Zacks Rank #1 (Strong Buy).

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MCDERMOTT INTERNATIONAL (MDR): Free Stock Analysis Report

CLAYTON WILLIAMS ENERGY INC (CWEI): Free Stock Analysis Report

RANGE RESOURCES CORP (RRC): Free Stock Analysis Report

EXTERRAN HLDGS INC (EXH): Free Stock Analysis Report


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