Subsea 7 (OTCMKTS:SUBCY) Shares Down 6.2% – Here’s Why

Subsea 7 SA (OTCMKTS:SUBCY)’s stock price traded down 6.2% during mid-day trading on Thursday . The stock traded as low as $34.58 and last traded at $34.69. 889 shares traded hands during trading, a decline of 97% from the average session volume of 32,078 shares. The stock had previously closed at $37.00.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Zacks Research lowered Subsea 7 from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 14th. Barclays downgraded Subsea 7 from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 20th. Finally, UBS Group reiterated an “overweight” rating on shares of Subsea 7 in a research note on Monday, May 11th. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold”.

Subsea 7 Trading Down 2.7%

The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.09 and a current ratio of 1.11. The company has a 50 day simple moving average of $31.93 and a two-hundred day simple moving average of $25.62. The firm has a market cap of $9.93 billion, a PE ratio of 20.23 and a beta of 1.12.

Subsea 7 (OTCMKTS:SUBCY) last posted its quarterly earnings results on Thursday, April 30th. The energy company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.03). The firm had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.62 billion. Subsea 7 had a net margin of 6.67% and a return on equity of 11.38%. 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.