Zacks: Analysts Expect Oceaneering International (OII) to Post -$0.16 EPS

Equities research analysts expect that Oceaneering International (NYSE:OII) will report ($0.16) earnings per share (EPS) for the current fiscal quarter, Zacks reports. Seven analysts have issued estimates for Oceaneering International’s earnings, with estimates ranging from ($0.18) to ($0.11). Oceaneering International reported earnings of $0.02 per share in the same quarter last year, which indicates a negative year over year growth rate of 900%. The business is expected to report its next earnings report on Wednesday, October 24th.

According to Zacks, analysts expect that Oceaneering International will report full year earnings of ($1.01) per share for the current financial year, with EPS estimates ranging from ($1.10) to ($0.89). For the next year, analysts forecast that the business will report earnings of ($0.43) per share, with EPS estimates ranging from ($0.68) to ($0.16). Zacks Investment Research’s earnings per share calculations 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 earnings results on Wednesday, July 25th. The oil and gas company reported ($0.23) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.03. The business had revenue of $479.00 million during the quarter, compared to the consensus estimate of $448.96 million. Oceaneering International had a negative return on equity of 4.31% and a net margin of 4.83%. The company’s revenue for the quarter was down 7.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.02 EPS.

Several equities analysts recently weighed in on OII shares. Wells Fargo & Co reaffirmed a “market perform” rating on shares of Oceaneering International in a research note on Saturday, June 2nd. Zacks Investment Research raised Oceaneering International from a “hold” rating to a “buy” rating and set a $30.00 price objective for the company in a research note on Monday, July 16th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $28.00 price objective on shares of Oceaneering International in a research note on Friday, July 27th. Credit Suisse Group raised their price objective on Oceaneering International from $19.00 to $20.00 and gave the company a “neutral” rating in a research note on Friday, July 27th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $24.00 price objective on shares of Oceaneering International in a research note on Friday, July 27th. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $25.33.

NYSE OII opened at $27.26 on Wednesday. Oceaneering International has a 1-year low of $17.11 and a 1-year high of $28.62. The company has a market capitalization of $2.69 billion, a P/E ratio of -389.43 and a beta of 1.38. The company has a quick ratio of 2.17, a current ratio of 2.61 and a debt-to-equity ratio of 0.50.

In other Oceaneering International news, Director T Jay Collins sold 16,750 shares of the firm’s stock in a transaction on Wednesday, August 8th. The stock was sold at an average price of $26.50, for a total transaction of $443,875.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.10% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. Cortina Asset Management LLC purchased a new position in Oceaneering International during the second quarter worth $12,965,000. Madison Investment Holdings Inc. increased its position in Oceaneering International by 1.1% during the second quarter. Madison Investment Holdings Inc. now owns 537,978 shares of the oil and gas company’s stock worth $13,697,000 after buying an additional 6,086 shares in the last quarter. Alps Advisors Inc. increased its position in Oceaneering International by 11.5% during the second quarter. Alps Advisors Inc. now owns 32,334 shares of the oil and gas company’s stock worth $823,000 after buying an additional 3,322 shares in the last quarter. State of Wisconsin Investment Board increased its position in Oceaneering International by 25.2% during the second quarter. State of Wisconsin Investment Board now owns 235,979 shares of the oil and gas company’s stock worth $6,008,000 after buying an additional 47,540 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. increased its position in Oceaneering International by 9.8% during the first quarter. Schwab Charles Investment Management Inc. now owns 480,308 shares of the oil and gas company’s stock worth $8,905,000 after buying an additional 42,897 shares in the last quarter.

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.

Recommended Story: The Role of a Fiduciary and Individual Investors

Get a free copy of the Zacks research report on Oceaneering International (OII)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Oceaneering International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Oceaneering International and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply