Zacks: Analysts Anticipate Oceaneering International (OII) Will Post Earnings of -$0.09 Per Share

Wall Street brokerages expect that Oceaneering International (NYSE:OII) will report earnings per share (EPS) of ($0.09) for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have provided estimates for Oceaneering International’s earnings, with the lowest EPS estimate coming in at ($0.12) and the highest estimate coming in at ($0.07). Oceaneering International posted earnings per share of $0.03 during the same quarter last year, which would indicate a negative year-over-year growth rate of 400%. The business is expected to announce its next earnings report 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 year, analysts forecast that the firm will report earnings of ($0.41) per share, with EPS estimates ranging from ($0.56) to ($0.20). Zacks’ earnings per share calculations are a mean average based on a survey of research 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 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.01). The business had revenue of $476.12 million during the quarter, compared to the consensus estimate of $511.14 million. Oceaneering International had a negative net margin of 0.94% and a positive return on equity of 0.21%. The company’s quarterly revenue was down 13.3% compared to the same quarter last year. During the same period last year, the firm earned $0.17 EPS.

OII has been the topic of several analyst reports. Scotiabank set a $37.00 price target on shares of Oceaneering International and gave the company a “buy” rating in a report on Friday, October 27th. Royal Bank of Canada reissued a “buy” rating and issued a $27.00 price target 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. Barclays initiated coverage on shares of Oceaneering International in a report on Friday, October 6th. They issued an “equal weight” rating and a $28.00 price target on the stock. Finally, Capital One Financial lowered shares of Oceaneering International from an “overweight” rating to an “equal weight” rating in a report on Thursday, November 16th. Seven research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the company’s stock. Oceaneering International has a consensus rating of “Hold” and a consensus target price of $23.70.

Several institutional investors and hedge funds have recently bought and sold shares of OII. Zions Bancorporation bought a new stake in Oceaneering International during the 3rd quarter worth approximately $100,000. Quantbot Technologies LP bought a new stake in Oceaneering International during the 3rd quarter worth approximately $103,000. Pacad Investment Ltd. increased its stake in Oceaneering International by 231.3% during the 2nd quarter. Pacad Investment Ltd. now owns 5,300 shares of the oil and gas company’s stock worth $121,000 after purchasing an additional 3,700 shares in the last quarter. Meeder Asset Management Inc. increased its stake in Oceaneering International by 121.2% during the 3rd quarter. Meeder Asset Management Inc. now owns 5,229 shares of the oil and gas company’s stock worth $138,000 after purchasing an additional 2,865 shares in the last quarter. Finally, World Asset Management Inc bought a new stake in Oceaneering International during the 3rd quarter worth approximately $201,000. 99.69% of the stock is currently owned by institutional investors and hedge funds.

Shares of Oceaneering International (NYSE:OII) traded up $0.51 during trading on Friday, reaching $23.04. 2,925,900 shares of the company’s stock traded hands, compared to its average volume of 1,930,600. The company has a market cap of $2,214.23, a price-to-earnings ratio of -121.26 and a beta of 1.63. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.67 and a quick ratio of 2.14. Oceaneering International has a 12-month low of $17.11 and a 12-month high of $29.53.

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

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