Subsea 7 (OTCMKTS:SUBCY) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Subsea 7 (OTCMKTS:SUBCY) from a strong sell rating to a hold rating in a research report released on Tuesday, reports.

According to Zacks, “Subsea 7 S.A., formerly known as Acergy S.A., operates as an engineering, construction and services contractor to the offshore energy industry worldwide. The Company is engaged in the design, fabrication, installation and commissioning of seabed-to-surface projects and its scope of operations include Subsea, Umbilical, Riser and Flowline (SURF) systems; Life-of-Field; Conventional Services and Renewables. Services offered by the Company ranges from engineering and construction for subsea field developments, pipeline and riser systems and associated services, inspection, maintenance and repair, integrity management and remote intervention, fabrication and installation of fixed platforms and associated pipelines, as well as hook-up and platform refurbishment. Subsea 7 S.A. is based in London, United Kingdom. “

SUBCY has been the subject of several other research reports. UBS Group reiterated a neutral rating on shares of Subsea 7 in a research note on Tuesday, May 26th. ValuEngine raised shares of Subsea 7 from a hold rating to a buy rating in a research report on Friday, May 1st. Finally, Goldman Sachs Group raised shares of Subsea 7 to a buy rating in a research report on Monday, March 16th.

Shares of SUBCY stock opened at $6.58 on Tuesday. Subsea 7 has a twelve month low of $3.47 and a twelve month high of $12.25. The stock has a market capitalization of $2.10 billion, a price-to-earnings ratio of -19.35 and a beta of 1.85. The stock has a fifty day simple moving average of $6.58 and a two-hundred day simple moving average of $7.80. The company has a current ratio of 1.27, a quick ratio of 1.25 and a debt-to-equity ratio of 0.09.

Subsea 7 (OTCMKTS:SUBCY) last issued its earnings results on Thursday, April 30th. The energy company reported ($0.13) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.16). Subsea 7 had a negative return on equity of 0.05% and a negative net margin of 2.89%. The firm had revenue of $750.60 million during the quarter, compared to analysts’ expectations of $813.00 million. Research analysts predict that Subsea 7 will post 0.02 EPS for the current fiscal year.

Subsea 7 Company Profile

Subsea 7 SA delivers offshore projects and services for the evolving energy industry worldwide. It provides subsea field development products and services, including project management, design and engineering, procurement, fabrication, survey, installation, and commissioning of production facilities on the seabed and the tie-back of its facilities to fixed or floating platforms or to the shore.

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