Equities Analysts Offer Predictions for Oceaneering International Inc.’s Q3 2016 Earnings (OII)
Oceaneering International Inc. (NYSE:OII) – Equities research analysts at Seaport Global Securities dropped their Q3 2016 earnings per share (EPS) estimates for shares of Oceaneering International in a research report issued on Tuesday. Seaport Global Securities analyst M. Brown now forecasts that the brokerage will post earnings per share of $0.16 for the quarter, down from their prior estimate of $0.19. Seaport Global Securities has a “Accumulate” rating on the stock. Seaport Global Securities also issued estimates for Oceaneering International’s Q4 2016 earnings at $0.13 EPS, Q3 2017 earnings at $0.14 EPS, Q4 2017 earnings at $0.13 EPS, FY2017 earnings at $0.49 EPS, Q1 2018 earnings at $0.16 EPS, Q2 2018 earnings at $0.19 EPS, Q3 2018 earnings at $0.23 EPS and FY2018 earnings at $0.82 EPS.
Oceaneering International (NYSE:OII) last released its quarterly earnings data on Thursday, July 21st. The company reported $0.27 EPS for the quarter, missing the consensus estimate of $0.28 by $0.01. Oceaneering International had a net margin of 5.31% and a return on equity of 11.41%. The company had revenue of $625.50 million for the quarter, compared to the consensus estimate of $604.16 million.
A number of other research analysts have also recently weighed in on the stock. Zacks Investment Research cut shares of Oceaneering International from a “hold” rating to a “sell” rating in a report on Wednesday. Wells Fargo & Co. began coverage on shares of Oceaneering International in a report on Tuesday. They issued a “market perform” rating for the company. Loop Capital began coverage on shares of Oceaneering International in a report on Friday, September 30th. They issued a “buy” rating for the company. Citigroup Inc. began coverage on shares of Oceaneering International in a report on Tuesday, September 27th. They issued a “neutral” rating and a $27.00 price objective for the company. Finally, RBC Capital Markets set a $28.00 price objective on shares of Oceaneering International and gave the company a “hold” rating in a report on Thursday, September 15th. Two equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $33.97.
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Shares of Oceaneering International (NYSE:OII) traded up 3.12% on Wednesday, hitting $27.47. 612,651 shares of the company were exchanged. The firm’s 50-day moving average is $26.38 and its 200-day moving average is $29.91. Oceaneering International has a 52-week low of $24.33 and a 52-week high of $47.45. The stock has a market capitalization of $2.69 billion, a PE ratio of 18.85 and a beta of 1.57.
Several institutional investors have recently modified their holdings of the company. Northwestern Mutual Investment Management Company LLC raised its position in shares of Oceaneering International by 0.3% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 16,929 shares of the company’s stock valued at $505,000 after buying an additional 47 shares in the last quarter. Utah Retirement Systems raised its position in shares of Oceaneering International by 0.6% in the second quarter. Utah Retirement Systems now owns 17,782 shares of the company’s stock valued at $531,000 after buying an additional 100 shares in the last quarter. State Treasurer State of Michigan raised its position in shares of Oceaneering International by 0.8% in the second quarter. State Treasurer State of Michigan now owns 39,400 shares of the company’s stock valued at $1,176,000 after buying an additional 300 shares in the last quarter. I.G. Investment Management LTD. raised its position in shares of Oceaneering International by 1.3% in the second quarter. I.G. Investment Management LTD. now owns 37,566 shares of the company’s stock valued at $1,122,000 after buying an additional 480 shares in the last quarter. Finally, First Citizens Bank & Trust Co. raised its position in shares of Oceaneering International by 7.0% in the second quarter. First Citizens Bank & Trust Co. now owns 8,263 shares of the company’s stock valued at $247,000 after buying an additional 541 shares in the last quarter. Hedge funds and other institutional investors own 97.91% of the company’s stock.
Oceaneering International Company Profile
Oceaneering International, Inc is an oilfield provider of engineered services and products to the offshore oil and gas industry, with a focus on deep water applications. The Company’s business segments include services and products provided to the oil and gas industry (Oilfield), and all other services and products (Advanced Technologies).
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