Oceaneering International, Inc. (OII) Announces Earnings Results, Beats Estimates By $0.03 EPS
Oceaneering International, Inc. (NYSE:OII) announced its earnings results on Wednesday. The oil and gas company reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.03, Bloomberg Earnings reports. Oceaneering International had a negative net margin of 0.38% and a positive return on equity of 2.72%. The business had revenue of $515.04 million during the quarter, compared to the consensus estimate of $481.86 million. During the same quarter last year, the firm earned $0.23 earnings per share. Oceaneering International’s quarterly revenue was down 17.7% on a year-over-year basis.
Shares of Oceaneering International (NYSE OII) traded up 0.65% on Wednesday, hitting $24.86. 1,532,099 shares of the stock were exchanged. The company has a 50-day moving average price of $23.54 and a 200 day moving average price of $25.94. Oceaneering International has a 12 month low of $20.74 and a 12 month high of $32.12. The company’s market cap is $2.44 billion.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, August 25th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.41%. Oceaneering International’s dividend payout ratio is currently -750.00%.
OII has been the subject of a number of analyst reports. BidaskClub downgraded shares of Oceaneering International from a “sell” rating to a “strong sell” rating in a research note on Saturday, June 24th. Zacks Investment Research cut shares of Oceaneering International from a “hold” rating to a “sell” rating in a report on Thursday, April 13th. Scotiabank restated a “buy” rating and issued a $37.00 price target on shares of Oceaneering International in a report on Friday, April 28th. Wolfe Research cut shares of Oceaneering International from a “market perform” rating to an “underperform” rating in a report on Tuesday, June 6th. Finally, Jefferies Group LLC set a $25.00 price target on shares of Oceaneering International and gave the stock a “hold” rating in a report on Wednesday, May 17th. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $28.44.
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About Oceaneering International
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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