Q2 2018 EPS Estimates for Oceaneering International, Inc. Decreased by Analyst (OII)
Oceaneering International, Inc. (NYSE:OII) – Investment analysts at SunTrust Banks decreased their Q2 2018 earnings per share (EPS) estimates for shares of Oceaneering International in a report issued on Friday. SunTrust Banks analyst K. Sill now expects that the oil and gas company will earn $0.02 per share for the quarter, down from their prior forecast of $0.04. SunTrust Banks also issued estimates for Oceaneering International’s Q3 2018 earnings at $0.07 EPS and Q4 2018 earnings at $0.04 EPS.
Oceaneering International (NYSE:OII) last released its earnings results on Wednesday, July 26th. The oil and gas company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.03. The business had revenue of $515.04 million during the quarter, compared to analysts’ expectations of $481.86 million. Oceaneering International had a negative net margin of 1.41% and a positive return on equity of 1.14%. The company’s quarterly revenue was down 17.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.23 earnings per share. TRADEMARK VIOLATION WARNING: This report was reported by American Banking News and is the property of of American Banking News. If you are viewing this report on another domain, it was illegally stolen and reposted in violation of United States & international copyright & trademark legislation. The correct version of this report can be viewed at https://www.americanbankingnews.com/2017/08/07/q2-2018-eps-estimates-for-oceaneering-international-inc-decreased-by-analyst-oii.html.
Several other analysts have also recently commented on OII. Scotiabank set a $37.00 price objective on shares of Oceaneering International and gave the company a “buy” rating in a research note on Friday, July 28th. Cowen and Company set a $28.00 price objective on shares of Oceaneering International and gave the company a “hold” rating in a research note on Friday. Piper Jaffray Companies set a $26.00 price objective on shares of Oceaneering International and gave the company a “buy” rating in a research note on Sunday, July 30th. BidaskClub upgraded shares of Oceaneering International from a “sell” rating to a “hold” rating in a research note on Wednesday, July 19th. Finally, Seaport Global Securities cut shares of Oceaneering International from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $24.00 to $19.00 in a research note on Wednesday, June 21st. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $28.50.
Shares of Oceaneering International (NYSE:OII) opened at 26.04 on Monday. The stock’s 50 day moving average is $23.62 and its 200-day moving average is $25.85. The stock’s market cap is $2.57 billion. Oceaneering International has a 1-year low of $20.74 and a 1-year high of $32.12.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, August 25th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, August 23rd. This represents a $0.60 annualized dividend and a yield of 2.30%. Oceaneering International’s dividend payout ratio (DPR) is currently -206.90%.
Institutional investors have recently bought and sold shares of the stock. Westpac Banking Corp acquired a new position in Oceaneering International during the first quarter valued at $144,000. LS Investment Advisors LLC increased its position in Oceaneering International by 18.4% in the second quarter. LS Investment Advisors LLC now owns 7,650 shares of the oil and gas company’s stock valued at $175,000 after buying an additional 1,188 shares during the period. Teacher Retirement System of Texas increased its position in Oceaneering International by 4.0% in the first quarter. Teacher Retirement System of Texas now owns 7,808 shares of the oil and gas company’s stock valued at $211,000 after buying an additional 300 shares during the period. Raymond James Financial Services Advisors Inc. increased its position in Oceaneering International by 7.7% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 7,814 shares of the oil and gas company’s stock valued at $212,000 after buying an additional 560 shares during the period. Finally, Oppenheimer Asset Management Inc. acquired a new position in Oceaneering International during the first quarter valued at $259,000. Hedge funds and other institutional investors own 98.61% of the company’s stock.
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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