Zacks Investment Research Lowers Subsea 7 (SUBCY) to Sell

Zacks Investment Research downgraded shares of Subsea 7 (OTCMKTS:SUBCY) from a hold rating to a sell rating in a report published on Friday.

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. “

Several other analysts have also recently issued reports on the company. Macquarie reiterated an underperform rating on shares of Subsea 7 in a research note on Friday, January 12th. ValuEngine upgraded Subsea 7 from a buy rating to a strong-buy rating in a research note on Friday, February 2nd.

Subsea 7 (SUBCY) opened at $14.08 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.41 and a current ratio of 1.43. Subsea 7 has a 52 week low of $12.55 and a 52 week high of $17.43. The compa....

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