Brokerages expect Oceaneering International (NYSE:OII) to announce sales of $423.50 million for the current fiscal quarter, Zacks reports. Seven analysts have issued estimates for Oceaneering International’s earnings, with the lowest sales estimate coming in at $397.00 million and the highest estimate coming in at $463.53 million. Oceaneering International reported sales of $446.18 million in the same quarter last year, which indicates a negative year-over-year growth rate of 5.1%. The company is expected to issue its next quarterly earnings results after the market closes on Wednesday, April 25th.
According to Zacks, analysts expect that Oceaneering International will report full-year sales of $423.50 million for the current financial year, with estimates ranging from $1.72 billion to $1.91 billion. For the next financial year, analysts anticipate that the company will post sales of $2.00 billion per share, with estimates ranging from $1.81 billion to $2.33 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that that provide coverage for Oceaneering International.
Oceaneering International (NYSE:OII) last issued its quarterly earnings results on Thursday, February 22nd. The oil and gas company reported ($0.08) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.10) by $0.02. Oceaneering International had a negative return on equity of 0.49% and a net margin of 8.66%. The business had revenue of $484.20 million for the quarter, compared to analyst estimates of $435.90 million. During the same quarter in the previous year, the firm earned $0.03 earnings per share. The company’s revenue was down .9% on a year-over-year basis.
A number of brokerages recently commented on OII. Royal Bank of Canada set a $22.00 target price on Oceaneering International and gave the company a “buy” rating in a research report on Thursday, December 21st. Zacks Investment Research lowered Oceaneering International from a “hold” rating to a “sell” rating in a research report on Tuesday, January 2nd. Howard Weil lowered Oceaneering International from a “sector outperform” rating to a “sector perform” rating in a research report on Friday, January 12th. Jefferies Group lowered Oceaneering International from a “hold” rating to an “underperform” rating and set a $18.00 target price on the stock. in a research report on Thursday, January 4th. Finally, Cowen set a $27.00 target price on Oceaneering International and gave the company a “hold” rating in a research report on Thursday, January 11th. Five investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $21.97.
Shares of OII stock traded up $0.04 during trading hours on Monday, reaching $18.61. 753,086 shares of the company’s stock were exchanged, compared to its average volume of 1,387,189. Oceaneering International has a 1 year low of $17.11 and a 1 year high of $28.21. The firm has a market capitalization of $1,828.41, a price-to-earnings ratio of -265.86 and a beta of 1.39. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.23 and a current ratio of 2.72.
Institutional investors have recently added to or reduced their stakes in the business. Magnetar Financial LLC purchased a new stake in Oceaneering International in the 3rd quarter worth approximately $1,684,000. California Public Employees Retirement System boosted its position in 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 in the last quarter. Vident Investment Advisory LLC boosted its position in Oceaneering International by 60.0% in the 3rd quarter. Vident Investment Advisory LLC now owns 927,136 shares of the oil and gas company’s stock worth $24,356,000 after purchasing an additional 347,505 shares in the last quarter. Boston Partners boosted its position in Oceaneering International by 48.0% in the 4th quarter. Boston Partners now owns 267,959 shares of the oil and gas company’s stock worth $5,665,000 after purchasing an additional 86,936 shares in the last quarter. Finally, First Quadrant L P CA boosted its position in Oceaneering International by 17.5% in the 4th quarter. First Quadrant L P CA now owns 1,213,675 shares of the oil and gas company’s stock worth $25,657,000 after purchasing an additional 180,737 shares in the last quarter. Institutional investors and hedge funds own 99.43% of the company’s stock.
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Oceaneering International Company Profile
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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