Subsea 7 (OTCMKTS:SUBCY) Shares Gap Down - What's Next?

Key Points

• Subsea 7 shares opened sharply lower, falling from a prior close of $36.74 to $35.15 and last trading near $35.01.
• Analyst sentiment remains generally positive, with an average MarketBeat rating of “Moderate Buy”; ratings include one Strong Buy, one Buy, and two Holds.
• The company exceeded quarterly expectations, reporting $0.85 in EPS versus the $0.64 consensus and revenue of $1.93 billion versus estimates of $1.91 billion.

Subsea 7 SA (OTCMKTS:SUBCY - Get Free Report) shares gapped down before the market opened on Wednesday . The stock had previously closed at $36.74, but opened at $35.15. Subsea 7 shares last traded at $35.0060, with a volume of 653 shares trading hands.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on SUBCY shares. Rothschild & Co Redburn upgraded shares of Subsea 7 from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 23rd. Zacks Research downgraded shares of Subsea 7 from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 14th. Finally, UBS Group restated a "buy" rating on shares of Subsea 7 in a report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy".

Subsea 7 Stock Performance

The business has a 50-day moving average of $34.67 and a 200 day moving average of $32.62. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.04 and a quick ratio of 1.02. The company has a market cap of $10.41 billion, a PE ratio of 17.10 and a beta of 1.12.

Subsea 7 (OTCMKTS:SUBCY - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The energy company reported $0.85 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.64 by $0.21. Subsea 7 had a return on equity of 13.89% and a net margin of 8.15%.The business had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.91 billion. Equities research analysts anticipate that Subsea 7 SA will post 2.66 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.

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