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

Shares of Subsea 7 SA (OTCMKTS:SUBCY) gapped down prior to trading on Wednesday . The stock had previously closed at $37.66, but opened at $36.05. Subsea 7 shares last traded at $36.41, with a volume of 716 shares traded.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SUBCY. UBS Group reiterated an “overweight” rating on shares of Subsea 7 in a research report on Monday, May 11th. 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, Barclays lowered shares of Subsea 7 from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 20th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Subsea 7 presently has a consensus rating of “Hold”.

Subsea 7 Price Performance

The business has a fifty day moving average price of $31.45 and a 200-day moving average price of $25.32. The company has a current ratio of 1.11, a quick ratio of 1.09 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $10.91 billion, a PE ratio of 22.24 and a beta of 1.12.

Subsea 7 (OTCMKTS:SUBCY) last released its earnings results on Thursday, April 30th. The energy company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.03). Subsea 7 had a net margin of 6.67% and a return on equity of 11.38%. The business had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.62 billion. Research analysts expect that Subsea 7 SA will post 2.29 EPS 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.