Short Interest in Subsea 7 SA (OTCMKTS:SUBCY) Declines By 71.4%

Key Points

• Short interest in Subsea 7 fell 71.4% to 2,007 shares as of July 31, representing 0.0% of shares outstanding and just 0.2 days to cover.
• Analyst sentiment is moderately bullish, with ratings spanning Strong Buy, Buy and Hold; Rothschild & Co Redburn upgraded the stock to Strong Buy, while UBS reaffirmed a Buy rating.
• Subsea 7 exceeded quarterly expectations, reporting $0.85 in EPS versus the $0.64 consensus and revenue of $1.93 billion versus $1.91 billion expected.

Subsea 7 SA (OTCMKTS:SUBCY - Get Free Report) saw a large decline in short interest during the month of July. As of July 31st, there was short interest totaling 2,007 shares, a decline of 71.4% from the July 15th total of 7,018 shares. Currently, 0.0% of the shares of the company are sold short. Based on an average daily trading volume, of 13,164 shares, the days-to-cover ratio is currently 0.2 days.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Rothschild & Co Redburn upgraded shares of Subsea 7 from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 23rd. Barclays cut shares of Subsea 7 from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 20th. UBS Group restated a "buy" rating on shares of Subsea 7 in a research note on Wednesday, August 5th. Finally, Zacks Research cut shares of Subsea 7 from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 14th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy".

Subsea 7 Trading Down 0.5%

Shares of SUBCY opened at $35.08 on Thursday. Subsea 7 has a fifty-two week low of $17.79 and a fifty-two week high of $37.66. The business has a 50-day moving average of $34.38 and a 200 day moving average of $31.54. The firm has a market cap of $10.37 billion, a P/E ratio of 17.03 and a beta of 1.10. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.09 and a current ratio of 1.11.

Subsea 7 (OTCMKTS:SUBCY - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The energy company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.64 by $0.21. The business had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.91 billion. Subsea 7 had a net margin of 8.15% and a return on equity of 14.04%. As a group, research analysts forecast that Subsea 7 will post 2.66 EPS for the current 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source