Oceaneering International, Inc. (NYSE:OII) Expected to Post Earnings of -$0.02 Per Share


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Equities research analysts expect Oceaneering International, Inc. (NYSE:OII) to announce earnings of ($0.10) per share for the current quarter, according to Zacks. Two analysts have made estimates for Oceaneering International’s earnings. The lowest EPS estimate is ($0.14) and the highest is ($0.07). Oceaneering International posted earnings per share of ($0.14) during the same quarter last year, which would suggest a positive year-over-year growth rate of 28.6%. The company is scheduled to announce its next earnings report on Wednesday, August 4th.

On average, analysts expect that Oceaneering International will report full-year earnings of ($0.21) per share for the current financial year, with EPS estimates ranging from ($0.58) to $0.10. For the next financial year, analysts anticipate that the firm will report earnings of ($0.06) per share, with EPS estimates ranging from ($0.46) to $0.44. Zacks Investment Research’s EPS calculations are an average based on a survey of research firms that that provide coverage for Oceaneering International.

Oceaneering International (NYSE:OII) last issued its earnings results on Wednesday, April 28th. The oil and gas company reported $0.03 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.06) by $0.09. The business had revenue of $437.55 million for the quarter, compared to analyst estimates of $429.05 million. Oceaneering International had a negative net margin of 37.40% and a negative return on equity of 3.56%. The company’s quarterly revenue was down 18.5% compared to the same quarter last year. During the same period last year, the company posted $0.04 earnings per share.

A number of equities analysts have weighed in on OII shares. Citigroup lifted their price objective on Oceaneering International from $10.00 to $18.00 in a research note on Tuesday, March 9th. Barclays increased their target price on Oceaneering International from $12.00 to $16.00 and gave the company an “overweight” rating in a report on Monday, March 1st. Finally, Cowen boosted their price objective on Oceaneering International from $10.00 to $14.00 and gave the stock a “market perform” rating in a research note on Wednesday, March 3rd. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $11.26.

Shares of NYSE OII opened at $11.21 on Friday. The business has a 50-day simple moving average of $11.47 and a two-hundred day simple moving average of $9.15. The company has a market cap of $1.12 billion, a PE ratio of -1.51 and a beta of 3.60. Oceaneering International has a fifty-two week low of $3.31 and a fifty-two week high of $15.40. The company has a debt-to-equity ratio of 1.44, a quick ratio of 2.27 and a current ratio of 2.61.

In other news, Director M Kevin Mcevoy sold 44,325 shares of the stock in a transaction dated Monday, March 15th. The stock was sold at an average price of $14.22, for a total value of $630,301.50. 1.80% of the stock is currently owned by insiders.

Hedge funds have recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Oceaneering International by 28.4% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,895 shares of the oil and gas company’s stock worth $159,000 after purchasing an additional 3,073 shares during the period. CWM Advisors LLC bought a new position in shares of Oceaneering International during the 1st quarter valued at about $289,000. Meeder Asset Management Inc. grew its position in Oceaneering International by 2,780.3% in the first quarter. Meeder Asset Management Inc. now owns 4,522 shares of the oil and gas company’s stock worth $50,000 after buying an additional 4,365 shares during the last quarter. First Quadrant L P CA grew its holdings in shares of Oceaneering International by 35.8% in the 1st quarter. First Quadrant L P CA now owns 74,800 shares of the oil and gas company’s stock worth $854,000 after acquiring an additional 19,700 shares during the last quarter. Finally, KBC Group NV acquired a new stake in Oceaneering International during the 1st quarter worth about $154,000. 83.41% of the stock is owned by institutional investors.

Oceaneering International Company Profile

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 Subsea Robotics segment provides remotely operated vehicles (ROVs) to customers in the energy industry for drilling support and vessel-based services, including subsea hardware installation, construction, pipeline inspection, survey and facilities inspection, maintenance and repair.

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

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