Zacks: Analysts Anticipate Oceaneering International, Inc. (NYSE:OII) Will Announce Quarterly Sales of $465.35 Million

Wall Street analysts expect Oceaneering International, Inc. (NYSE:OII) to announce $465.35 million in sales for the current quarter, Zacks reports. Two analysts have made estimates for Oceaneering International’s earnings, with the highest sales estimate coming in at $477.00 million and the lowest estimate coming in at $453.70 million. Oceaneering International posted sales of $427.22 million during the same quarter last year, which suggests a positive year-over-year growth rate of 8.9%. The company is scheduled to issue its next earnings results on Wednesday, August 4th.

On average, analysts expect that Oceaneering International will report full year sales of $1.78 billion for the current fiscal year, with estimates ranging from $1.75 billion to $1.80 billion. For the next financial year, analysts anticipate that the business will report sales of $1.88 billion, with estimates ranging from $1.83 billion to $1.92 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow Oceaneering International.

Oceaneering International (NYSE:OII) last announced its earnings results on Wednesday, April 28th. The oil and gas company reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.09. Oceaneering International had a negative return on equity of 4.76% and a negative net margin of 8.01%. The business had revenue of $437.55 million during the quarter, compared to analysts’ expectations of $429.05 million. During the same quarter in the prior year, the firm earned $0.04 earnings per share. The business’s revenue was down 18.5% compared to the same quarter last year.

A number of analysts have commented on the stock. Citigroup increased their price objective on shares of Oceaneering International from $10.00 to $18.00 in a report on Tuesday, March 9th. Barclays upped 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. Cowen lifted their price target on Oceaneering International from $10.00 to $14.00 and gave the stock a “market perform” rating in a report on Wednesday, March 3rd. TheStreet raised shares of Oceaneering International from a “d+” rating to a “c-” rating in a report on Wednesday, May 19th. Finally, Bank of America upgraded shares of Oceaneering International from a “neutral” rating to a “buy” rating and boosted their target price for the company from $12.50 to $15.00 in a report on Wednesday, May 5th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $12.60.

Shares of Oceaneering International stock traded up $0.16 during trading hours on Tuesday, reaching $16.81. 8,363 shares of the company’s stock were exchanged, compared to its average volume of 1,156,702. The firm has a fifty day moving average price of $13.24. The stock has a market capitalization of $1.68 billion, a P/E ratio of -11.98 and a beta of 3.55. The company has a debt-to-equity ratio of 1.47, a current ratio of 2.79 and a quick ratio of 2.47. Oceaneering International has a 1 year low of $3.31 and a 1 year high of $18.20.

In other news, Director M Kevin Mcevoy sold 44,325 shares of the firm’s stock in a transaction on Monday, March 15th. The stock was sold at an average price of $14.22, for a total transaction of $630,301.50. 2.10% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of OII. Acadian Asset Management LLC acquired a new position in shares of Oceaneering International in the first quarter valued at approximately $35,000. Meeder Asset Management Inc. increased its position in shares of Oceaneering International by 2,780.3% during the first quarter. Meeder Asset Management Inc. now owns 4,522 shares of the oil and gas company’s stock worth $50,000 after acquiring an additional 4,365 shares during the period. Veriti Management LLC purchased a new stake in shares of Oceaneering International during the fourth quarter worth $59,000. Captrust Financial Advisors raised its stake in shares of Oceaneering International by 1,896.3% in the first quarter. Captrust Financial Advisors now owns 7,985 shares of the oil and gas company’s stock valued at $91,000 after acquiring an additional 7,585 shares in the last quarter. Finally, Point72 Hong Kong Ltd grew its stake in Oceaneering International by 96.0% during the 1st quarter. Point72 Hong Kong Ltd now owns 8,805 shares of the oil and gas company’s stock worth $101,000 after purchasing an additional 4,313 shares in the last quarter. 88.36% of the stock is currently owned by institutional investors and hedge funds.

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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