Subsea 7 (OTCMKTS:SUBCY) Shares Gap Up - Here's Why

Key Points

• Subsea 7 shares opened higher, rising from a previous close of $32.98 to $34.07, a 1.3% gain.
• Analyst sentiment is favorable: Rothschild & Co Redburn upgraded the stock to “strong buy,” UBS reaffirmed “buy,” and MarketBeat’s overall rating is “Moderate Buy.”
• The company exceeded quarterly expectations, reporting $0.85 EPS versus the $0.64 consensus and revenue of $1.93 billion against estimates of $1.91 billion.

Subsea 7 SA (OTCMKTS:SUBCY - Get Free Report)'s share price gapped up before the market opened on Monday. The stock had previously closed at $32.98, but opened at $34.07. Subsea 7 shares last traded at $34.07, with a volume of 459 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports 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. UBS Group reaffirmed a "buy" rating on shares of Subsea 7 in a research report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, Subsea 7 has an average rating of "Moderate Buy".

Subsea 7 Trading Up 1.3%

The stock has a market cap of $10.16 billion, a PE ratio of 16.68 and a beta of 1.21. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.02 and a current ratio of 1.04. The stock has a fifty day moving average price of $34.89 and a 200 day moving average price of $34.47.

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

About Subsea 7

Subsea 7 SA is a global offshore energy services company that delivers engineering, procurement, construction, installation and commissioning solutions for subsea and offshore projects. The company works with energy producers and contractors across the development, construction and operation of offshore assets.

Its services include subsea, umbilicals, risers and flowlines (SURF); conventional offshore installation; subsea inspection, maintenance and repair; and project management and engineering.

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