Analysts forecast that Oceaneering International, Inc. (NYSE:OII) will report earnings of ($0.09) per share for the current quarter, Zacks Investment Research reports. Eight analysts have issued estimates for Oceaneering International’s earnings, with the highest EPS estimate coming in at ($0.07) and the lowest estimate coming in at ($0.12). Oceaneering International reported earnings of $0.03 per share in the same quarter last year, which would indicate a negative year over year growth rate of 400%. The firm is expected to issue its next earnings results on Wednesday, February 14th.
According to Zacks, analysts expect that Oceaneering International will report full year earnings of ($0.09) per share for the current fiscal year, with EPS estimates ranging from ($0.15) to ($0.06). For the next fiscal year, analysts anticipate that the company will report earnings of ($0.41) per share, with EPS estimates ranging from ($0.56) to ($0.20). Zacks’ EPS averages are an average based on a survey of analysts that follow Oceaneering International.
Oceaneering International (NYSE:OII) last announced its quarterly earnings results on Wednesday, October 25th. The oil and gas company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). Oceaneering International had a positive return on equity of 0.21% and a negative net margin of 0.94%. The business had revenue of $476.12 million during the quarter, compared to analysts’ expectations of $511.14 million. During the same period in the previous year, the business earned $0.17 EPS. The business’s revenue was down 13.3% compared to the same quarter last year.
A number of analysts recently commented on the company. Jefferies Group set a $18.00 price target on Oceaneering International and gave the stock a “hold” rating in a research note on Sunday, October 29th. Scotiabank set a $37.00 price target on Oceaneering International and gave the stock a “buy” rating in a research note on Friday, October 27th. Cowen set a $21.00 price target on Oceaneering International and gave the stock a “hold” rating in a research note on Sunday, October 29th. Deutsche Bank started coverage on Oceaneering International in a research report on Tuesday, October 10th. They set a “hold” rating and a $28.00 price objective for the company. Finally, Loop Capital lowered their price objective on Oceaneering International from $27.00 to $21.00 and set a “hold” rating for the company in a research report on Friday, October 27th. Five equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $24.03.
Shares of Oceaneering International (OII) opened at $19.37 on Wednesday. Oceaneering International has a 52 week low of $17.11 and a 52 week high of $31.63. The company has a market capitalization of $1,900.00, a price-to-earnings ratio of 614.00 and a beta of 1.62. The company has a quick ratio of 2.14, a current ratio of 2.67 and a debt-to-equity ratio of 0.53.
In other Oceaneering International news, Director Paul B. Murphy, Jr. sold 2,000 shares of the firm’s stock in a transaction on Wednesday, September 27th. The stock was sold at an average price of $26.34, for a total transaction of $52,680.00. Following the completion of the transaction, the director now owns 16,600 shares of the company’s stock, valued at $437,244. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.91% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Parametric Portfolio Associates LLC raised its position in shares of Oceaneering International by 9.0% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 694,163 shares of the oil and gas company’s stock worth $18,236,000 after purchasing an additional 57,032 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its position in shares of Oceaneering International by 11.2% in the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,568,651 shares of the oil and gas company’s stock worth $41,208,000 after purchasing an additional 158,533 shares during the last quarter. Walthausen & Co. LLC raised its position in shares of Oceaneering International by 34.5% in the 3rd quarter. Walthausen & Co. LLC now owns 280,260 shares of the oil and gas company’s stock worth $7,362,000 after purchasing an additional 71,930 shares during the last quarter. California Public Employees Retirement System raised its position in shares of Oceaneering International by 5.6% in the 3rd quarter. California Public Employees Retirement System now owns 368,327 shares of the oil and gas company’s stock worth $9,676,000 after purchasing an additional 19,627 shares during the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of Oceaneering International in the 3rd quarter worth about $881,000. 99.71% of the stock is owned by hedge funds and other institutional investors.
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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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