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An engineering and construction company, McDermott focuses on work for the offshore oil and gas industry.
Large block open market buys by multiple senior officers since this fell below $10. Has traded above $13 in last 3 years. Going from red ink to black with P/Sales only 0.33.
timely & smart pick
Added for further research.
Undervalued at $2.93, recent additional contract wins.
MDR probably might drop in the next couple months. After that, once their new fleets are operational, I think the stock price will pick up.
because players that are better than me have picked it.
cheap, will win some bids and increase revenue
Bad news already priced in; selloff is overdone. McDermott will bid on a large number of jobs in the near future; if it wins even a few bids, the stock has nowhere to go but up. Disclosure: I just bought a small position.
MDR has fallen significantly from over $13 per share a few months ago, to under $9 today. This drop is due to missed earnings.This stock has all the marks of a stock "on sale." PE ratio, price-to-book, and debt levels are lower than many of their competitors. Current ratio is in-line with competitors, return on average assets is higher than competitors.It may take a while for price to recover, but with current price near 52 week low, and a recent support-level check, I think it's a good entry point.
Lots of backlog
A solid balance sheet, a backlog of orders point to a solid 2013 even if earnings disappoint in Q3 & 4.
Good entry point here.
This stock will climb. It had a bad earnings report in October, but will climb for sure. It is a strong company with much profit, cash on the books and many billions of dollars of future bids. This stock will start climbing in December if nto sooner.
Strength on a big down-day = attractive, as are their fundamentals.
new goverment contracts
waiting for spin off
international economic recovery will spur intensive development of infrastructure and energy resources
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