Zacks: Analysts Expect Oceaneering International (NYSE:OII) to Announce -$0.23 EPS

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Wall Street brokerages expect Oceaneering International (NYSE:OII) to announce ($0.23) earnings per share for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for Oceaneering International’s earnings. The highest EPS estimate is ($0.11) and the lowest is ($0.31). Oceaneering International posted earnings of ($0.14) per share during the same quarter last year, which suggests a negative year-over-year growth rate of 64.3%. The company is scheduled to report its next quarterly earnings results after the market closes on Wednesday, October 30th.

On average, analysts expect that Oceaneering International will report full year earnings of ($0.94) per share for the current year, with EPS estimates ranging from ($1.12) to ($0.75). For the next financial year, analysts expect that the business will report earnings of ($0.27) per share, with EPS estimates ranging from ($0.37) to ($0.20). Zacks Investment Research’s EPS averages are an average based on a survey of sell-side analysts that that provide coverage for Oceaneering International.

Oceaneering International (NYSE:OII) last posted its quarterly earnings results on Wednesday, July 24th. The oil and gas company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.07). Oceaneering International had a negative return on equity of 4.38% and a negative net margin of 9.49%. The company had revenue of $495.78 million for the quarter, compared to the consensus estimate of $524.97 million. During the same quarter in the previous year, the business earned ($0.23) earnings per share. Oceaneering International’s revenue was up 3.6% compared to the same quarter last year.

A number of equities research analysts have recently weighed in on OII shares. Royal Bank of Canada set a $20.00 price objective on Oceaneering International and gave the stock a “buy” rating in a research report on Friday, July 26th. Citigroup cut their price objective on Oceaneering International from $22.00 to $14.00 and set a “neutral” rating on the stock in a research report on Thursday, August 15th. Finally, ValuEngine lowered Oceaneering International from a “buy” rating to a “hold” rating in a research report on Tuesday, July 2nd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company’s stock. Oceaneering International currently has a consensus rating of “Hold” and an average price target of $18.20.

Several hedge funds have recently modified their holdings of OII. FMR LLC grew its position in shares of Oceaneering International by 8.7% in the 1st quarter. FMR LLC now owns 12,466,488 shares of the oil and gas company’s stock worth $196,597,000 after buying an additional 1,001,484 shares during the last quarter. Dalton Greiner Hartman Maher & Co. bought a new stake in shares of Oceaneering International in the 2nd quarter worth approximately $14,565,000. Van ECK Associates Corp boosted its position in shares of Oceaneering International by 56.1% during the second quarter. Van ECK Associates Corp now owns 1,800,526 shares of the oil and gas company’s stock valued at $36,713,000 after purchasing an additional 647,261 shares in the last quarter. Nuveen Asset Management LLC bought a new stake in shares of Oceaneering International during the second quarter valued at approximately $11,702,000. Finally, Prudential Financial Inc. boosted its position in shares of Oceaneering International by 83.2% during the second quarter. Prudential Financial Inc. now owns 1,187,229 shares of the oil and gas company’s stock valued at $24,208,000 after purchasing an additional 539,255 shares in the last quarter. Hedge funds and other institutional investors own 95.36% of the company’s stock.

OII opened at $14.24 on Wednesday. The stock’s 50 day simple moving average is $13.53 and its 200 day simple moving average is $16.17. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.01 and a current ratio of 2.43. Oceaneering International has a 1 year low of $10.74 and a 1 year high of $26.27.

Oceaneering International Company Profile

Oceaneering International, Inc provides engineered services and products to the offshore oil and gas industry, as well as to 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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