SunTrust Banks Weighs in on Oceaneering International’s FY2018 Earnings (OII)

Oceaneering International (NYSE:OII) – Equities researchers at SunTrust Banks lowered their FY2018 earnings per share (EPS) estimates for shares of Oceaneering International in a report issued on Monday, October 15th. SunTrust Banks analyst K. Sill now expects that the oil and gas company will post earnings per share of ($1.01) for the year, down from their previous forecast of ($0.98). SunTrust Banks has a “Hold” rating and a $24.00 price objective on the stock. SunTrust Banks also issued estimates for Oceaneering International’s Q4 2018 earnings at ($0.18) EPS, Q1 2019 earnings at ($0.18) EPS, Q2 2019 earnings at ($0.06) EPS and FY2019 earnings at ($0.24) EPS.

OII has been the topic of several other reports. ValuEngine upgraded Oceaneering International from a “hold” rating to a “buy” rating in a report on Friday, June 22nd. Zacks Investment Research upgraded Oceaneering International from a “hold” rating to a “buy” rating and set a $30.00 target price on the stock in a report on Monday, July 16th. Royal Bank of Canada restated a “buy” rating and set a $28.00 target price on shares of Oceaneering International in a report on Friday, July 27th. Jefferies Financial Group restated a “hold” rating and set a $24.00 target price on shares of Oceaneering International in a report on Friday, July 27th. Finally, Wells Fargo & Co boosted their target price on Oceaneering International from $24.00 to $25.00 and gave the stock a “hold” rating in a report on Friday, July 27th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $25.93.

OII stock opened at $23.81 on Thursday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.17 and a current ratio of 2.61. Oceaneering International has a 12-month low of $17.11 and a 12-month high of $28.62. The stock has a market capitalization of $2.72 billion, a P/E ratio of -339.57 and a beta of 1.37.

Oceaneering International (NYSE:OII) last posted its quarterly earnings data on Wednesday, July 25th. The oil and gas company reported ($0.23) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.26) by $0.03. Oceaneering International had a negative return on equity of 4.31% and a net margin of 4.83%. The company had revenue of $479.00 million for the quarter, compared to analysts’ expectations of $448.96 million. During the same period in the previous year, the firm posted $0.02 EPS. Oceaneering International’s revenue was down 7.0% compared to the same quarter last year.

In other news, Director T Jay Collins sold 16,750 shares of the business’s stock in a transaction that occurred on Wednesday, August 8th. The stock was sold at an average price of $26.50, for a total transaction of $443,875.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.10% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. LPL Financial LLC purchased a new stake in shares of Oceaneering International during the 1st quarter valued at approximately $186,000. Boys Arnold & Co. Inc. purchased a new stake in shares of Oceaneering International during the 2nd quarter valued at approximately $204,000. Meridian Management Co. purchased a new stake in shares of Oceaneering International during the 2nd quarter valued at approximately $204,000. Bbva Compass Bancshares Inc. purchased a new stake in shares of Oceaneering International during the 2nd quarter valued at approximately $226,000. Finally, Laurel Wealth Advisors Inc. purchased a new stake in shares of Oceaneering International during the 2nd quarter valued at approximately $229,000.

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.

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

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