Oceaneering International (NYSE:OII) Issues Earnings Results, Misses Estimates By $0.02 EPS

Oceaneering International (NYSE:OII) issued its quarterly earnings data on Wednesday. The oil and gas company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.02), Zacks reports. Oceaneering International had a return on equity of 17.66% and a net margin of 5.54%. The business had revenue of $713.45 million during the quarter, compared to analysts’ expectations of $681.60 million.

Oceaneering International Stock Down 3.3 %

Shares of NYSE:OII traded down $0.79 during trading on Friday, hitting $23.36. The company’s stock had a trading volume of 78,979 shares, compared to its average volume of 689,387. The company has a market capitalization of $2.36 billion, a PE ratio of 16.20 and a beta of 2.38. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.46 and a current ratio of 1.76. Oceaneering International has a fifty-two week low of $19.68 and a fifty-two week high of $30.98. The business has a 50 day moving average price of $25.75 and a two-hundred day moving average price of $26.07.

Wall Street Analyst Weigh In

Several brokerages have recently commented on OII. Citigroup lowered Oceaneering International from a “buy” rating to a “neutral” rating and set a $30.00 price target on the stock. in a research note on Friday, January 10th. Barclays raised shares of Oceaneering International from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $22.00 to $26.00 in a research note on Wednesday, December 18th. Pickering Energy Partners downgraded shares of Oceaneering International from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 14th. TD Cowen increased their price objective on shares of Oceaneering International from $26.00 to $27.00 and gave the stock a “hold” rating in a research report on Wednesday, January 8th. Finally, Benchmark reiterated a “buy” rating and issued a $34.00 target price on shares of Oceaneering International in a report on Friday, October 25th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $29.25.

Oceaneering International Company Profile

Oceaneering International, Inc provides engineered services and products, and robotic solutions to the offshore energy, defense, aerospace, manufacturing, and entertainment industries worldwide. It operates through Subsea Robotics, Manufactured Products, Offshore Projects Group, Integrity Management & Digital Solutions, and Aerospace and Defense Technologies segments.