McDermott International, Inc. (NYSE:MDR) was a big mover last session, as the company saw its shares rise more than 14% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $6.58 to $7.96 in the past one-month time frame.
The move came after the company announced the latest contract award from Saudi Aramco and received an analyst upgrade. Also, it revised 2017 view and issued 2018 guidance.
The company has not seen any estimate revisions over the past month and the Zacks Consensus Estimate for the current quarter has also remained unchanged. The recent price action is encouraging though, so make sure to keep a close watch on this firm in the near future.
McDermott currently has a Zacks Rank #4 (Sell), while its Earnings ESP is 0.00%.
A better-ranked stock in the Oil and Gas - Mechanical and Equitment industry is Matrix Service Company (NASDAQ:MTRX) , which currently has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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