Oceaneering International (OII) Expected to Post Quarterly Sales of $423.50 Million

Analysts expect Oceaneering International (NYSE:OII) to post sales of $423.50 million for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have issued estimates for Oceaneering International’s earnings, with the lowest sales estimate coming in at $397.00 million and the highest estimate coming in at $463.53 million. Oceaneering International reported sales of $446.18 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 5.1%. The business is scheduled to announce its next earnings report after the market closes on Wednesday, April 25th.

On average, analysts expect that Oceaneering International will report full-year sales of $423.50 million for the current financial year, with estimates ranging from $1.72 billion to $1.91 billion. For the next fiscal year, analysts expect that the business will report sales of $2.00 billion per share, with estimates ranging from $1.81 billion to $2.33 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Oceaneering International.

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Oceaneering International (NYSE:OII) last posted its earnings results on Thursday, February 22nd. The oil and gas company reported ($0.08) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.10) by $0.02. The company had revenue of $484.20 million during the quarter, compared to analyst estimates of $435.90 million. Oceaneering International had a negative return on equity of 0.49% and a net margin of 8.66%. The company’s revenue for the quarter was down .9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.03 EPS.

OII has been the subject of several analyst reports. Royal Bank of Canada set a $22.00 target price on Oceaneering International and gave the stock a “buy” rating in a research report on Thursday, December 21st. Zacks Investment Research lowered Oceaneering International from a “hold” rating to a “sell” rating in a research report on Tuesday, January 2nd. Howard Weil lowered Oceaneering International from a “sector outperform” rating to a “sector perform” rating in a research report on Friday, January 12th. Jefferies Group lowered Oceaneering International from a “hold” rating to an “underperform” rating and set a $18.00 target price for the company. in a research report on Thursday, January 4th. Finally, Cowen set a $27.00 target price on Oceaneering International and gave the stock a “hold” rating in a research report on Thursday, January 11th. Five analysts have rated the stock with a sell rating, sixteen have issued a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $21.97.

Shares of Oceaneering International stock traded down $0.61 during trading on Monday, hitting $18.57. 1,173,063 shares of the company were exchanged, compared to its average volume of 1,329,084. Oceaneering International has a 1-year low of $17.11 and a 1-year high of $28.21. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.23 and a current ratio of 2.72.

Institutional investors and hedge funds have recently modified their holdings of the stock. Magnetar Financial LLC acquired a new position in shares of Oceaneering International in the 3rd quarter valued at approximately $1,684,000. California Public Employees Retirement System grew its position in shares of Oceaneering International by 5.6% in the 3rd quarter. California Public Employees Retirement System now owns 368,327 shares of the oil and gas company’s stock valued at $9,676,000 after purchasing an additional 19,627 shares during the period. Vident Investment Advisory LLC grew its position in shares of Oceaneering International by 60.0% in the 3rd quarter. Vident Investment Advisory LLC now owns 927,136 shares of the oil and gas company’s stock valued at $24,356,000 after purchasing an additional 347,505 shares during the period. Boston Partners grew its position in shares of Oceaneering International by 48.0% in the 4th quarter. Boston Partners now owns 267,959 shares of the oil and gas company’s stock valued at $5,665,000 after purchasing an additional 86,936 shares during the period. Finally, First Quadrant L P CA grew its position in shares of Oceaneering International by 17.5% in the 4th quarter. First Quadrant L P CA now owns 1,213,675 shares of the oil and gas company’s stock valued at $25,657,000 after purchasing an additional 180,737 shares during the period. Institutional investors and hedge funds own 99.43% of the company’s stock.

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Oceaneering International Company Profile

Oceaneering International, Inc is an oilfield provider of engineered services and products, primarily to the offshore oil and gas industry, with a focus on deepwater applications. The Company’s business segments are contained within two businesses: services and products provided to the oil and gas industry (Oilfield) and all other services and products (Advanced Technologies).

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

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