Brokerages predict that Oceaneering International, Inc. (NYSE:OII) will report sales of $427.80 million for the current quarter, Zacks reports. Eight analysts have made estimates for Oceaneering International’s earnings. The highest sales estimate is $449.90 million and the lowest is $396.04 million. Oceaneering International reported sales of $488.45 million during the same quarter last year, which would suggest a negative year over year growth rate of 12.4%. The company is scheduled to announce its next earnings results on Wednesday, February 14th.
On average, analysts expect that Oceaneering International will report full-year sales of $427.80 million for the current fiscal year, with estimates ranging from $1.83 billion to $1.89 billion. For the next financial year, analysts forecast that the firm will report sales of $1.72 billion per share, with estimates ranging from $1.43 billion to $1.84 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover 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 (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.03 by ($0.01). The company had revenue of $476.12 million for the quarter, compared to analysts’ expectations 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 for the quarter was down 13.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.17 earnings per share.
A number of analysts have recently issued reports on the stock. Jefferies Group set a $18.00 target price on shares of Oceaneering International and gave the company a “hold” rating in a research note on Sunday, October 29th. Scotiabank set a $37.00 target price on shares of Oceaneering International and gave the company a “buy” rating in a research note on Friday, October 27th. Cowen set a $21.00 target price on shares of Oceaneering International and gave the company a “hold” rating in a research note on Sunday, October 29th. Deutsche Bank assumed coverage on shares of Oceaneering International in a research note on Tuesday, October 10th. They set a “hold” rating and a $28.00 target price for the company. Finally, Loop Capital lowered their target price on shares of Oceaneering International from $27.00 to $21.00 and set a “hold” rating for the company in a research note on Friday, October 27th. Five analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $23.70.
In related news, Director Paul B. Murphy, Jr. sold 2,000 shares of Oceaneering International stock in a transaction dated Wednesday, September 27th. The stock was sold at an average price of $26.34, for a total value of $52,680.00. Following the completion of the sale, the director now directly owns 16,600 shares in the company, valued at $437,244. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.91% of the company’s stock.
A number of institutional investors have recently made changes to their positions in OII. Dimensional Fund Advisors LP raised its holdings in Oceaneering International by 39.5% in the second quarter. Dimensional Fund Advisors LP now owns 4,205,338 shares of the oil and gas company’s stock worth $96,049,000 after purchasing an additional 1,190,224 shares in the last quarter. Janus Henderson Group PLC acquired a new position in shares of Oceaneering International during the second quarter valued at about $22,929,000. Balyasny Asset Management LLC increased its holdings in shares of Oceaneering International by 2,750.8% during the second quarter. Balyasny Asset Management LLC now owns 843,843 shares of the oil and gas company’s stock valued at $19,273,000 after acquiring an additional 814,243 shares in the last quarter. Royal Bank of Canada increased its holdings in shares of Oceaneering International by 169.8% during the second quarter. Royal Bank of Canada now owns 289,277 shares of the oil and gas company’s stock valued at $6,606,000 after acquiring an additional 703,599 shares in the last quarter. Finally, Eaton Vance Management increased its holdings in shares of Oceaneering International by 20.4% during the second quarter. Eaton Vance Management now owns 3,068,529 shares of the oil and gas company’s stock valued at $70,085,000 after acquiring an additional 519,289 shares in the last quarter. Institutional investors and hedge funds own 99.71% of the company’s stock.
Shares of Oceaneering International (NYSE:OII) traded down $0.05 on Friday, hitting $20.50. 461,683 shares of the stock were exchanged, compared to its average volume of 1,371,647. The stock has a market capitalization of $1,972.46, a price-to-earnings ratio of -107.89 and a beta of 1.63. Oceaneering International has a 1 year low of $17.11 and a 1 year high of $29.88. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.67 and a quick ratio of 2.14.
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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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