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Subsea 7 (OTCMKTS:SUBCY) Stock Rating Lowered by Zacks Investment Research

Last updated on Tuesday, May 4, 2021 | 2021 MarketBeat

Subsea 7 (OTCMKTS:SUBCY) was downgraded by Zacks Investment Research from a "buy" rating to a "hold" rating in a research report issued on Tuesday, Zacks.com 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. JPMorgan Chase & Co. reiterated an "overweight" rating on shares of Subsea 7 in a research report on Tuesday, April 27th. Berenberg Bank reiterated a "buy" rating on shares of Subsea 7 in a research report on Thursday, March 4th. DNB Markets downgraded Subsea 7 from a "buy" rating to a "sell" rating in a report on Monday, March 29th. SEB Equities upgraded Subsea 7 from a "hold" rating to a "buy" rating in a report on Friday. Finally, Jefferies Financial Group upgraded Subsea 7 from a "hold" rating to a "buy" rating in a report on Friday, March 5th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company. The company has an average rating of "Buy" and a consensus price target of $11.00.

Shares of OTCMKTS SUBCY opened at $10.13 on Tuesday. Subsea 7 has a 12 month low of $4.82 and a 12 month high of $11.49. The company has a current ratio of 1.16, a quick ratio of 1.14 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $3.23 billion, a price-to-earnings ratio of -2.68 and a beta of 2.15. The business has a 50-day moving average of $10.30 and a 200-day moving average of $9.67.

Subsea 7 (OTCMKTS:SUBCY) last issued its quarterly earnings data on Thursday, February 25th. The energy company reported ($0.25) EPS for the quarter, missing the Thomson Reuters' consensus estimate of $0.08 by ($0.33). The business had revenue of $1.01 billion for the quarter, compared to analysts' expectations of $1.10 billion. Subsea 7 had a negative return on equity of 9.32% and a negative net margin of 33.70%. On average, analysts predict that Subsea 7 will post -0.42 earnings per share for the current year.

About Subsea 7

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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