Zacks: Analysts Expect Oceaneering International (OII) to Announce -$0.10 Earnings Per Share

Wall Street analysts expect Oceaneering International (NYSE:OII) to report ($0.10) earnings per share (EPS) for the current quarter, according to Zacks. Eight analysts have issued estimates for Oceaneering International’s earnings. The lowest EPS estimate is ($0.14) and the highest is ($0.07). Oceaneering International reported earnings of $0.03 per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 433.3%. The business is expected to report its next quarterly earnings results after the market closes on Wednesday, February 14th.

According to Zacks, analysts expect that Oceaneering International will report full-year earnings of ($0.10) per share for the current financial year, with EPS estimates ranging from ($0.15) to ($0.08). For the next fiscal year, analysts expect that the firm will report earnings of ($0.46) per share, with EPS estimates ranging from ($0.68) to ($0.20). Zacks’ earnings per share averages are a mean average based on a survey of analysts that follow Oceaneering International.

Oceaneering International (NYSE:OII) last issued its earnings results on Wednesday, October 25th. The oil and gas company reported $0.02 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.01). The firm had revenue of $476.12 million during the quarter, compared to analyst estimates of $511.14 million. Oceaneering International had a negative net margin of 0.94% and a positive return on equity of 0.21%. The firm’s revenue was down 13.3% compared to the same quarter last year. During the same period last year, the business earned $0.17 EPS.

OII has been the topic of several analyst reports. Capital One Financial cut shares of Oceaneering International from an “overweight” rating to an “equal weight” rating in a report on Thursday, November 16th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $27.00 target price on shares of Oceaneering International in a report on Monday, October 30th. Tudor Pickering raised shares of Oceaneering International from a “hold” rating to a “buy” rating in a report on Monday, November 6th. Cowen set a $21.00 target price on shares of Oceaneering International and gave the company a “hold” rating in a report on Sunday, October 29th. Finally, Zacks Investment Research raised shares of Oceaneering International from a “sell” rating to a “hold” rating in a report on Thursday, November 9th. Eight investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $23.46.

Shares of Oceaneering International (NYSE OII) traded up $0.33 during trading hours on Monday, reaching $22.15. 823,500 shares of the company traded hands, compared to its average volume of 1,561,931. The firm has a market capitalization of $2,200.00, a PE ratio of -116.58 and a beta of 1.62. Oceaneering International has a 52-week low of $17.11 and a 52-week high of $29.53. The company has a current ratio of 2.67, a quick ratio of 2.14 and a debt-to-equity ratio of 0.53.

A number of institutional investors have recently made changes to their positions in the business. Los Angeles Capital Management & Equity Research Inc. increased its stake in Oceaneering International by 3.2% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 10,605 shares of the oil and gas company’s stock valued at $242,000 after purchasing an additional 330 shares during the last quarter. Harris Associates L P increased its stake in Oceaneering International by 2.1% in the second quarter. Harris Associates L P now owns 35,025 shares of the oil and gas company’s stock valued at $800,000 after purchasing an additional 725 shares during the last quarter. Prudential Financial Inc. grew its position in shares of Oceaneering International by 1.4% during the second quarter. Prudential Financial Inc. now owns 60,526 shares of the oil and gas company’s stock worth $1,382,000 after acquiring an additional 860 shares during the last quarter. Miles Capital Inc. grew its position in shares of Oceaneering International by 3.6% during the second quarter. Miles Capital Inc. now owns 36,755 shares of the oil and gas company’s stock worth $839,000 after acquiring an additional 1,274 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. grew its position 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 worth $213,000 after acquiring an additional 1,512 shares during the last quarter. Institutional investors own 99.69% of the company’s stock.

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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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Earnings History and Estimates for Oceaneering International (NYSE:OII)

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