McDermott International (NYSE:MDR) changed -9.97% to recent value of $5.78. The stock transacted 12181126 shares during most recent day however it has an average volume of 4980.85K shares. It spotted trading -71.98% off 52-week high price. On the other end, the stock has been noted -0.34% away from the low price over the last 52-weeks.
On Aug. 1, 2019, McDermott International (NYSE:MDR) announced it has been awarded a large* contract by Saudi Aramco to provide engineering, procurement, construction and installation (EPCI) of a production deck module (PDM) in the Hasbah gas field with hook-up and modification works in Saudi Arabia’s Karan fields located offshore in the Arabian Gulf.
The scope of work includes EPCI of Wellhead PDM for four wells, 3.75 miles (6 kilometres) of 16-inch corrosion resistant alloy (CRA) cladded flowline, 4 miles (6.5 kilometres) of subsea umbilical cable, offshore tie-ins to existing facilities and electrical modifications to existing PDMs.
This award is confirmation that the McDermott execution model we call the One McDermott Way gives clients confidence that we consistently deliver quality, said Linh Austin, Senior Vice President, Middle East and North Africa.
Engineering of the project will be performed in Saudi Arabia and fabrication will take place at McDermott’s Jebel Ali yard in the United Arab Emirates. Fabrication is expected to begin in the second quarter of 2020 and the contract award will be reflected in McDermott’s third quarter 2019 backlog.
* – McDermott defines a large contract as between USD $50 million and USD $250 million.
McDermott is a premier, fully integrated provider of technology, engineering and construction solutions to the energy industry. For more than a century, customers have trusted McDermott to design and build end-to-end infrastructure and technology solutions to transport and transform oil and gas into the products the world needs. Our proprietary technologies, integrated expertise and comprehensive solutions deliver certainty, innovation and added value to energy projects around the world. Customers rely on McDermott to deliver certainty to the most complex projects, from concept to commissioning. It is called the One McDermott Way. Operating in over 54 countries, McDermott’s locally focused and globally-integrated resources include approximately 32,000 employees, a diversified fleet of specialty marine construction vessels and fabrication facilities around the world.
MDR has a gross margin of 7.10% and an operating margin of -27.80% while its profit margin remained -33.70% for the last 12 months. Its earnings per share (EPS) expected to touch remained 261.60% for this year while earning per share for the next 5-years is expected to reach at 51.50%.
The company has 188.4M of outstanding shares and 179.7M shares were floated in the market. According to the most recent quarter its current ratio was 0.7 that represents company’s ability to meet its current financial obligations. The price moved ahead of -40.91% from the mean of 20 days, -31.47% from mean of 50 days SMA and performed -33.16% from mean of 200 days price. Company’s performance for the week was -45.57%, -38.38% for month and YTD performance remained -11.62%.
Ricardo Gardner joined the newsdegree.com, after more than 10 years of experience in writing financial and business news, most recently as Investment Editor and writer. He also has a vast knowledge of stock trading. He earned bachelor degree from Union College with a focus in Business Administration. Ricardo is the Senior Editor for newsdegree.com and market movers section. He also holds an MBA from Penn State University He has two daughter and two children.
Height: 177 cm
Weight: 70 kg
Blood Type: AB-
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