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

Key Points

• Subsea 7 gapped up pre-market, opening at $33.54 vs. the prior close of $31.75 (last trade $32.90), representing about a 4.8% move on light volume (3,368 shares).
• The company reported an EPS miss for the quarter—$0.49 vs. $0.55 expected—while revenue was roughly in line at $1.96 billion.
• Analysts have a consensus rating of Hold (three analysts), with UBS neutral and Zacks recently downgrading from strong-buy to hold; the stock has a market cap of $9.84 billion and a PE of 24.12.

Subsea 7 SA (OTCMKTS:SUBCY - Get Free Report) gapped up prior to trading on Thursday . The stock had previously closed at $31.75, but opened at $33.54. Subsea 7 shares last traded at $32.90, with a volume of 3,368 shares trading hands.

Wall Street Analyst Weigh In

SUBCY has been the subject of several analyst reports. UBS Group reissued a "neutral" rating on shares of Subsea 7 in a research note on Friday, January 30th. Zacks Research cut Subsea 7 from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, February 10th. Three investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has a consensus rating of "Hold".

Subsea 7 Trading Up 4.8%

The firm has a market capitalization of $9.84 billion, a PE ratio of 24.12 and a beta of 1.07. The business has a 50 day moving average price of $27.28 and a 200-day moving average price of $22.61. The company has a current ratio of 1.11, a quick ratio of 1.09 and a debt-to-equity ratio of 0.09.

Subsea 7 (OTCMKTS:SUBCY - Get Free Report) last issued its earnings results on Thursday, February 26th. The energy company reported $0.49 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.55 by ($0.06). The business had revenue of $1.96 billion for the quarter, compared to analysts' expectations of $1.95 billion. Subsea 7 had a return on equity of 9.46% and a net margin of 5.76%. Analysts expect that Subsea 7 SA will post 0.86 earnings per share for the current year.

Subsea 7 Company Profile

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.