According to Zacks, “Subsea 7 S.A., formerly known as Acergy S.A., operates as an engineering, construction and services contractor to the offshore energy industry worldwide. The Company is engaged in the design, fabrication, installation and commissioning of seabed-to-surface projects and its scope of operations include Subsea, Umbilical, Riser and Flowline (SURF) systems; Life-of-Field; Conventional Services and Renewables. Services offered by the Company ranges from engineering and construction for subsea field developments, pipeline and riser systems and associated services, inspection, maintenance and repair, integrity management and remote intervention, fabrication and installation of fixed platforms and associated pipelines, as well as hook-up and platform refurbishment. Subsea 7 S.A. is based in London, United Kingdom. “
SUBCY has been the topic of a number of other research reports. Morgan Stanley reissued an equal weight rating on shares of Subsea 7 in a research note on Thursday, November 11th. DNB Markets raised Subsea 7 from a hold rating to a buy rating in a research note on Thursday, July 29th. HSBC raised Subsea 7 from a hold rating to a buy rating and dropped their price target for the stock from 96.00 to 84.00 in a research note on Wednesday, August 18th. JPMorgan Chase & Co. restated an overweight rating and set a 86.00 price objective (down from 90.00) on shares of Subsea 7 in a research report on Thursday, November 18th. Finally, Royal Bank of Canada restated a sector perform rating and set a 87.00 price objective (down from 92.00) on shares of Subsea 7 in a research report on Thursday, July 29th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of Buy and an average price target of $67.00.
Subsea 7 (OTCMKTS:SUBCY) last released its earnings results on Wednesday, November 17th. The energy company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.03. Subsea 7 had a negative return on equity of 2.97% and a negative net margin of 3.70%. Sell-side analysts expect that Subsea 7 will post 0.1 EPS for the current year.
About Subsea 7
Subsea 7 SA engages in the provision of engineering and construction services to the offshore drilling industry. It provides cost-effective technical solutions to enable the delivery of complex projects in all water depths and challenging environments. The company was founded on March 10, 1993 and is headquartered in London, the United Kingdom.
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