$176.53 Million in Sales Expected for Oil States International, Inc. (OIS) This Quarter
Wall Street brokerages expect Oil States International, Inc. (NYSE:OIS) to report $176.53 million in sales for the current quarter, according to Zacks Investment Research. Six analysts have made estimates for Oil States International’s earnings, with the lowest sales estimate coming in at $174.20 million and the highest estimate coming in at $180.10 million. Oil States International posted sales of $179.01 million during the same quarter last year, which would indicate a negative year over year growth rate of 1.4%. The firm is expected to issue its next quarterly earnings results on Thursday, October 26th.
According to Zacks, analysts expect that Oil States International will report full year sales of $176.53 million for the current year, with estimates ranging from $680.00 million to $709.43 million. For the next financial year, analysts forecast that the business will post sales of $826.56 million per share, with estimates ranging from $700.00 million to $943.45 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Oil States International.
Oil States International (NYSE:OIS) last posted its quarterly earnings results on Monday, July 31st. The oil and gas company reported ($0.27) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.24) by ($0.03). The firm had revenue of $171.40 million during the quarter, compared to analyst estimates of $176.08 million. Oil States International had a negative return on equity of 4.21% and a negative net margin of 7.94%. The firm’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same quarter last year, the business posted ($0.22) earnings per share.
Several research analysts have recently issued reports on OIS shares. BidaskClub upgraded shares of Oil States International from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 13th. Wells Fargo & Company initiated coverage on shares of Oil States International in a research note on Friday, June 16th. They issued an “outperform” rating and a $33.00 target price on the stock. Morgan Stanley cut shares of Oil States International from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $55.00 to $32.00 in a research note on Wednesday, June 21st. BMO Capital Markets reissued a “hold” rating on shares of Oil States International in a research note on Thursday, June 22nd. Finally, Royal Bank Of Canada reissued a “hold” rating and issued a $44.00 target price on shares of Oil States International in a research note on Friday, June 30th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the company’s stock. Oil States International currently has an average rating of “Hold” and a consensus price target of $31.45.
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Oil States International (OIS) opened at 25.40 on Wednesday. The company has a 50-day moving average price of $23.91 and a 200-day moving average price of $27.19. Oil States International has a 1-year low of $20.90 and a 1-year high of $41.75. The firm’s market capitalization is $1.30 billion.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC increased its stake in Oil States International by 7.2% in the first quarter. Geode Capital Management LLC now owns 403,234 shares of the oil and gas company’s stock valued at $13,367,000 after acquiring an additional 27,159 shares during the period. American International Group Inc. increased its stake in Oil States International by 4.1% in the first quarter. American International Group Inc. now owns 132,308 shares of the oil and gas company’s stock valued at $4,386,000 after acquiring an additional 5,233 shares during the period. Loomis Sayles & Co. L P increased its stake in Oil States International by 26.4% in the first quarter. Loomis Sayles & Co. L P now owns 115,841 shares of the oil and gas company’s stock valued at $3,840,000 after acquiring an additional 24,228 shares during the period. US Bancorp DE increased its stake in Oil States International by 5.0% in the first quarter. US Bancorp DE now owns 6,605 shares of the oil and gas company’s stock valued at $219,000 after acquiring an additional 317 shares during the period. Finally, Hancock Holding Co. bought a new stake in Oil States International in the second quarter valued at about $6,944,000.
About Oil States International
Oil States International, Inc, through its subsidiaries, provides specialty products and services to oil and natural gas related companies throughout the world. The Company operates as a technology-focused energy services company. The Company operates through two segments: Offshore Products and Well Site Services.
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