Subsea 7 SA (OTCMKTS:SUBCY) Sees Significant Drop in Short Interest

Key Points

• Short interest fell sharply in Subsea 7 SA, dropping 72.5% in July to 7,018 shares from 25,509 shares at the end of June. The stock has essentially no shares shorted relative to total float and a very low days-to-cover ratio of 0.4.
• Recent earnings were mixed: Subsea 7 reported $0.34 EPS for the quarter, missing analyst expectations of $0.37, but revenue came in stronger than expected at $1.79 billion versus $1.62 billion.
• Analyst sentiment remains constructive, with UBS and Rothschild & Co Redburn upgrading the stock, while the overall consensus rating from MarketBeat is currently Moderate Buy.

Subsea 7 SA (OTCMKTS:SUBCY - Get Free Report) saw a large drop in short interest during the month of July. As of July 15th, there was short interest totaling 7,018 shares, a drop of 72.5% from the June 30th total of 25,509 shares. Approximately 0.0% of the company's shares are short sold. Based on an average daily volume of 19,282 shares, the days-to-cover ratio is currently 0.4 days.

Subsea 7 Price Performance

Subsea 7 stock opened at $34.38 on Friday. The stock has a 50-day moving average price of $34.53 and a two-hundred day moving average price of $30.37. Subsea 7 has a 12 month low of $17.79 and a 12 month high of $37.66. The company has a market capitalization of $10.16 billion, a PE ratio of 20.71 and a beta of 1.08. 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 quarterly earnings data on Thursday, April 30th. The energy company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.03). Subsea 7 had a return on equity of 11.38% and a net margin of 6.67%.The business had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.62 billion. Analysts expect that Subsea 7 will post 2.32 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. UBS Group upgraded Subsea 7 from an "overweight" rating to a "buy" rating in a research report on Thursday. Rothschild & Co Redburn upgraded Subsea 7 from a "hold" rating to a "strong-buy" rating in a report on Thursday. Barclays lowered Subsea 7 from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 20th. Finally, Zacks Research cut 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 three have assigned a Hold rating to the stock. Based on data from MarketBeat, Subsea 7 currently has an average rating of "Moderate Buy".

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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