Brokerages Anticipate Oceaneering International, Inc. (OII) Will Post Earnings of $0.03 Per Share
Brokerages predict that Oceaneering International, Inc. (NYSE:OII) will announce earnings per share of $0.03 for the current quarter, according to Zacks Investment Research. Eight analysts have made estimates for Oceaneering International’s earnings, with the highest EPS estimate coming in at $0.05 and the lowest estimate coming in at ($0.01). Oceaneering International posted earnings per share of $0.17 during the same quarter last year, which suggests a negative year over year growth rate of 82.4%. The business is scheduled to report its next earnings results after the market closes on Wednesday, October 25th.
According to Zacks, 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 ($0.11) to $0.06. For the next year, analysts forecast that the business will report earnings of $0.07 per share, with EPS estimates ranging from ($0.38) to $0.20. Zacks’ EPS averages are a mean average based on a survey of research analysts that follow Oceaneering International.
Oceaneering International (NYSE:OII) last issued its quarterly earnings results on Wednesday, July 26th. The oil and gas company reported $0.02 EPS for the quarter, topping the Zacks’ 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 negative net margin of 1.41% and a positive return on equity of 1.14%. The business’s revenue for the quarter was down 17.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.23 EPS.
Several equities research analysts recently weighed in on OII shares. Barclays PLC started coverage on shares of Oceaneering International in a research report on Friday, October 6th. They issued an “equal weight” rating and a $28.00 price target on the stock. Piper Jaffray Companies restated an “overweight” rating and issued a $28.00 price target (up previously from $26.00) on shares of Oceaneering International in a research report on Tuesday, October 3rd. Royal Bank Of Canada restated a “sell” rating and issued a $25.00 price target on shares of Oceaneering International in a research report on Thursday, July 20th. Scotiabank set a $37.00 price target on shares of Oceaneering International and gave the stock a “buy” rating in a research report on Friday, July 28th. Finally, ValuEngine upgraded shares of Oceaneering International from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. Five research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $28.75.
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Shares of Oceaneering International (NYSE:OII) opened at 24.58 on Tuesday. The stock’s market cap is $2.42 billion. The stock has a 50 day moving average of $25.47 and a 200-day moving average of $24.82. Oceaneering International has a 52 week low of $20.74 and a 52 week high of $32.12.
In other Oceaneering International news, VP W Cardon Gerner sold 2,000 shares of the business’s stock in a transaction on Thursday, September 21st. The shares were sold at an average price of $25.76, for a total transaction of $51,520.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.91% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. Meeder Asset Management Inc. boosted its stake in shares of Oceaneering International by 121.2% during the third quarter. Meeder Asset Management Inc. now owns 5,229 shares of the oil and gas company’s stock valued at $138,000 after purchasing an additional 2,865 shares during the period. Pacad Investment Ltd. boosted its stake in shares of Oceaneering International by 231.3% during the second quarter. Pacad Investment Ltd. now owns 5,300 shares of the oil and gas company’s stock valued at $121,000 after purchasing an additional 3,700 shares during the period. LS Investment Advisors LLC boosted its stake in shares of Oceaneering International by 18.4% during 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 purchasing an additional 1,188 shares during the period. Teacher Retirement System of Texas boosted its stake in shares of Oceaneering International by 4.0% during 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 purchasing an additional 300 shares during the period. Finally, Raymond James Financial Services Advisors Inc. boosted its stake in shares of Oceaneering International by 19.3% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 9,326 shares of the oil and gas company’s stock valued at $213,000 after purchasing an additional 1,512 shares during the period. 99.58% of the stock is owned by hedge funds and other institutional investors.
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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