Zacks: Analysts Anticipate Oceaneering International, Inc. (NYSE:OII) Will Announce Earnings of -$0.01 Per Share
Equities analysts predict that Oceaneering International, Inc. (NYSE:OII) will report ($0.01) earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Six analysts have made estimates for Oceaneering International’s earnings, with the highest EPS estimate coming in at $0.03 and the lowest estimate coming in at ($0.04). Oceaneering International posted earnings per share of $0.27 during the same quarter last year, which would suggest a negative year-over-year growth rate of 103.7%. The company is expected to announce its next quarterly earnings report after the market closes on Wednesday, July 26th.
According to Zacks, analysts expect that Oceaneering International will report full-year earnings of ($0.12) per share for the current year, with EPS estimates ranging from ($0.35) to $0.02. For the next year, analysts anticipate that the firm will report earnings of $0.07 per share, with EPS estimates ranging from ($0.26) to $0.35. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that cover Oceaneering International.
Oceaneering International (NYSE:OII) last announced its quarterly earnings data on Wednesday, April 26th. The oil and gas company reported ($0.04) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.10) by $0.06. Oceaneering International had a negative net margin of 0.38% and a positive return on equity of 2.72%. The company had revenue of $446.18 million during the quarter, compared to analysts’ expectations of $459.57 million. During the same period in the previous year, the company earned $0.26 EPS. The business’s quarterly revenue was down 26.7% compared to the same quarter last year.
OII has been the subject of a number of research analyst reports. Tudor Pickering initiated coverage on shares of Oceaneering International in a research report on Thursday, March 23rd. They issued a “hold” rating for the company. BidaskClub downgraded shares of Oceaneering International from a “sell” rating to a “strong sell” rating in a research report on Saturday, June 24th. Zacks Investment Research downgraded shares of Oceaneering International from a “hold” rating to a “sell” rating in a research report on Thursday, April 13th. Scotiabank reiterated a “buy” rating and issued a $37.00 target price on shares of Oceaneering International in a research report on Friday, April 28th. Finally, Wolfe Research downgraded shares of Oceaneering International from a “market perform” rating to an “underperform” rating in a research report on Tuesday, June 6th. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $28.44.
Shares of Oceaneering International (NYSE OII) traded down 1.26% during mid-day trading on Friday, hitting $24.37. 338,078 shares of the stock traded hands. The company’s market cap is $2.39 billion. Oceaneering International has a 52 week low of $20.74 and a 52 week high of $32.12. The stock has a 50-day moving average of $23.60 and a 200-day moving average of $26.06.
Several hedge funds and other institutional investors have recently made changes to their positions in OII. Norges Bank acquired a new position in shares of Oceaneering International during the fourth quarter valued at approximately $44,468,000. Viking Fund Management LLC acquired a new position in shares of Oceaneering International during the first quarter valued at approximately $2,166,000. Dean Investment Associates LLC raised its position in shares of Oceaneering International by 8.1% in the first quarter. Dean Investment Associates LLC now owns 179,813 shares of the oil and gas company’s stock valued at $4,869,000 after buying an additional 13,525 shares during the period. Capstone Asset Management Co. raised its position in shares of Oceaneering International by 6.5% in the first quarter. Capstone Asset Management Co. now owns 11,558 shares of the oil and gas company’s stock valued at $313,000 after buying an additional 710 shares during the period. Finally, Mason Street Advisors LLC raised its position in Oceaneering International by 1.2% in the first quarter. Mason Street Advisors LLC now owns 46,331 shares of the oil and gas company’s stock worth $1,255,000 after buying an additional 562 shares during the last quarter. Institutional investors own 98.81% of the company’s stock.
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Oceaneering International Company Profile
Oceaneering International, Inc is an oilfield provider of engineered services and products, primarily to the offshore oil and gas industry, with a focus on deepwater applications. The Company’s business segments are contained within two businesses: services and products provided to the oil and gas industry (Oilfield) and all other services and products (Advanced Technologies).
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