Subsea 7 (OTCMKTS:SUBCY)‘s stock had its “buy” rating reissued by investment analysts at Berenberg Bank in a note issued to investors on Wednesday, The Fly reports.
A number of other brokerages have also commented on SUBCY. HSBC raised Subsea 7 from a “hold” rating to a “buy” rating and decreased their price objective for the stock from 96.00 to 84.00 in a report on Wednesday, August 18th. Zacks Investment Research raised Subsea 7 from a “sell” rating to a “hold” rating in a report on Tuesday. DNB Markets raised Subsea 7 from a “hold” rating to a “buy” rating in a report on Thursday, July 29th. Morgan Stanley restated an “equal weight” rating on shares of Subsea 7 in a research note on Thursday, November 11th. Finally, JPMorgan Chase & Co. restated an “overweight” rating and issued a 86.00 target price (down previously from 90.00) on shares of Subsea 7 in a research note on Thursday, November 18th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $67.00.
Shares of SUBCY opened at $7.80 on Wednesday. The company has a market capitalization of $2.32 billion, a PE ratio of -15.00 and a beta of 1.93. The company has a current ratio of 1.15, a quick ratio of 1.13 and a debt-to-equity ratio of 0.04. The stock’s 50-day moving average price is $8.59 and its two-hundred day moving average price is $8.85. Subsea 7 has a 12 month low of $7.07 and a 12 month high of $11.49.
About Subsea 7
Subsea 7 SA engages in the provision of engineering and construction services to the offshore drilling industry. It provides cost-effective technical solutions to enable the delivery of complex projects in all water depths and challenging environments. The company was founded on March 10, 1993 and is headquartered in London, the United Kingdom.
See Also: What is Cost of Goods Sold (COGS)?
Receive News & Ratings for Subsea 7 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Subsea 7 and related companies with MarketBeat.com's FREE daily email newsletter.