Equities research analysts expect Oceaneering International (NYSE:OII) to report ($0.27) earnings per share (EPS) for the current quarter, Zacks reports. Eight analysts have provided estimates for Oceaneering International’s earnings. The lowest EPS estimate is ($0.29) and the highest is ($0.24). Oceaneering International reported earnings of $0.02 per share during the same quarter last year, which would suggest a negative year over year growth rate of 1,450%. The business is expected to report its next earnings results on Wednesday, July 25th.
On average, analysts expect that Oceaneering International will report full-year earnings of ($0.93) per share for the current financial year, with EPS estimates ranging from ($1.29) to ($0.39). For the next financial year, analysts forecast that the firm will post earnings of ($0.37) per share, with EPS estimates ranging from ($0.94) to $0.15. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research firms that cover Oceaneering International.
Get Oceaneering International alerts:Oceaneering International (NYSE:OII) last posted its quarterly earnings results on Wednesday, April 25th. The oil and gas company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.08). The company had revenue of $416.00 million during the quarter, compared to analyst estimates of $426.79 million. Oceaneering International had a net margin of 6.60% and a negative return on equity of 2.77%. Oceaneering International’s revenue for the quarter was down 6.8% on a year-over-year basis. During the same period in the prior year, the business earned ($0.08) EPS.
A number of research firms have issued reports on OII. Wells Fargo & Co raised Oceaneering International from an “underperform” rating to a “market perform” rating and set a $17.00 price target on the stock in a research report on Thursday. Goldman Sachs Group raised Oceaneering International from a “neutral” rating to a “buy” rating and set a $29.00 price target on the stock in a research report on Monday, May 14th. Zacks Investment Research raised Oceaneering International from a “sell” rating to a “hold” rating in a research report on Thursday, May 3rd. Barclays set a $20.00 price target on Oceaneering International and gave the company a “hold” rating in a research report on Sunday, April 29th. Finally, Royal Bank of Canada increased their price target on Oceaneering International to $26.00 and gave the company an “outperform” rating in a research report on Monday, April 30th. Four investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $22.93.
OII stock traded down $1.04 during mid-day trading on Monday, reaching $22.91. The company had a trading volume of 1,245,901 shares, compared to its average volume of 1,436,772. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.97 and a quick ratio of 2.47. The firm has a market capitalization of $2.26 billion, a P/E ratio of -327.29 and a beta of 1.36. Oceaneering International has a fifty-two week low of $17.11 and a fifty-two week high of $26.95.
Hedge funds and other institutional investors have recently modified their holdings of the company. Amundi Pioneer Asset Management Inc. acquired a new stake in shares of Oceaneering International during the 4th quarter worth about $112,000. State of Alaska Department of Revenue purchased a new position in Oceaneering International during the 4th quarter worth approximately $120,000. LPL Financial LLC purchased a new position in Oceaneering International during the 1st quarter worth approximately $186,000. Alps Advisors Inc. purchased a new position in Oceaneering International during the 4th quarter worth approximately $224,000. Finally, Ladenburg Thalmann Financial Services Inc. grew its stake in Oceaneering International by 869.7% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 11,918 shares of the oil and gas company’s stock worth $252,000 after buying an additional 10,689 shares during the last quarter. 99.61% of the stock is currently owned by institutional investors and hedge funds.
About Oceaneering International
Oceaneering International, Inc provides engineered services and products to the offshore oil and gas, defense, aerospace, and commercial theme park industries worldwide. The company's Remotely Operated Vehicles (ROVs) segment offers submersible vehicles for drill support, vessel-based inspection, maintenance and repair, installation and construction support, pipeline inspection and surveys, and subsea production facility operation and maintenance services.
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