Zacks: Analysts Anticipate Oceaneering International, Inc. (OII) to Announce $0.03 Earnings Per Share
Wall Street analysts forecast that Oceaneering International, Inc. (NYSE:OII) will post earnings of $0.03 per share for the current quarter, Zacks reports. Seven analysts have provided estimates for Oceaneering International’s earnings. The highest EPS estimate is $0.05 and the lowest is $0.02. Oceaneering International reported earnings of $0.17 per share during the same quarter last year, which indicates a negative year-over-year growth rate of 82.4%. The company is scheduled to issue its next earnings results after the market closes on Wednesday, October 25th.
On average, analysts expect that Oceaneering International will report full-year earnings of ($0.02) per share for the current fiscal year, with EPS estimates ranging from ($0.08) to $0.06. For the next financial year, analysts forecast that the business will report earnings of $0.08 per share, with EPS estimates ranging from ($0.29) to $0.20. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that follow Oceaneering International.
Oceaneering International (NYSE:OII) last announced its quarterly earnings results on Wednesday, July 26th. The oil and gas company reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.03. The firm had revenue of $515.04 million for the quarter, compared to analyst estimates of $481.86 million. Oceaneering International had a positive return on equity of 1.14% and a negative net margin of 1.41%. The business’s revenue for the quarter was down 17.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.23 earnings per share.
OII has been the topic of several recent analyst reports. Zacks Investment Research raised Oceaneering International from a “sell” rating to a “hold” rating in a research note on Saturday, July 15th. Scotiabank set a $37.00 price target on Oceaneering International and gave the company a “buy” rating in a research note on Tuesday, June 13th. Morgan Stanley lowered Oceaneering International from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $33.00 to $28.00 in a research note on Wednesday, June 21st. J P Morgan Chase & Co decreased their target price on Oceaneering International from $22.00 to $21.00 and set an “underweight” rating on the stock in a research note on Tuesday, September 12th. Finally, Royal Bank Of Canada raised Oceaneering International from an “underperform” rating to an “outperform” rating and increased their target price for the stock from $25.00 to $33.00 in a research note on Friday, August 25th. Five analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $28.90.
In other Oceaneering International news, Director Paul B. Murphy, Jr. sold 2,000 shares of the company’s stock in a transaction dated Wednesday, September 27th. The stock was sold at an average price of $26.34, for a total transaction of $52,680.00. Following the sale, the director now owns 16,600 shares in the company, valued at approximately $437,244. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.91% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. Westpac Banking Corp purchased a new stake in Oceaneering International during the 1st quarter worth about $144,000. Pacad Investment Ltd. increased its holdings in Oceaneering International by 231.3% during the 2nd quarter. Pacad Investment Ltd. now owns 5,300 shares of the oil and gas company’s stock worth $121,000 after purchasing an additional 3,700 shares during the period. LS Investment Advisors LLC increased its holdings in Oceaneering International by 18.4% during the 2nd quarter. LS Investment Advisors LLC now owns 7,650 shares of the oil and gas company’s stock worth $175,000 after purchasing an additional 1,188 shares during the period. Teacher Retirement System of Texas increased its holdings in Oceaneering International by 4.0% during the 1st quarter. Teacher Retirement System of Texas now owns 7,808 shares of the oil and gas company’s stock worth $211,000 after purchasing an additional 300 shares during the period. Finally, Raymond James Financial Services Advisors Inc. increased its holdings in Oceaneering International by 7.7% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 7,814 shares of the oil and gas company’s stock worth $212,000 after purchasing an additional 560 shares during the period. Institutional investors own 99.71% of the company’s stock.
Shares of Oceaneering International (OII) traded up 0.35% during trading on Thursday, hitting $25.54. The stock had a trading volume of 57,230 shares. Oceaneering International has a 12 month low of $20.74 and a 12 month high of $32.12. The company’s 50 day moving average price is $24.49 and its 200 day moving average price is $24.91. The stock’s market cap is $2.51 billion.
The business also recently declared a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, August 25th were issued a dividend of $0.15 per share. The ex-dividend date was Wednesday, August 23rd. This represents a $0.60 annualized dividend and a yield of 2.36%. Oceaneering International’s dividend payout ratio (DPR) is -206.90%.
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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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