-$0.16 Earnings Per Share Expected for Oceaneering International (OII) This Quarter

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Brokerages predict that Oceaneering International (NYSE:OII) will post earnings of ($0.16) per share for the current quarter, according to Zacks. Six analysts have made estimates for Oceaneering International’s earnings, with estimates ranging from ($0.18) to ($0.11). Oceaneering International reported earnings of $0.02 per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 900%. The firm is expected to report its next quarterly earnings report after the market closes on Wednesday, October 24th.

On average, analysts expect that Oceaneering International will report full-year earnings of ($1.01) per share for the current year, with EPS estimates ranging from ($1.10) to ($0.89). For the next fiscal year, analysts expect that the firm will report earnings of ($0.43) per share, with EPS estimates ranging from ($0.68) to ($0.16). Zacks’ EPS averages are a mean average based on a survey of research analysts that cover Oceaneering International.

Oceaneering International (NYSE:OII) last announced its earnings results on Wednesday, July 25th. The oil and gas company reported ($0.23) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.26) by $0.03. Oceaneering International had a net margin of 4.83% and a negative return on equity of 4.31%. The company had revenue of $479.00 million during the quarter, compared to the consensus estimate of $448.96 million. During the same period in the previous year, the firm posted $0.02 earnings per share. The company’s revenue was down 7.0% on a year-over-year basis.

A number of equities research analysts recently weighed in on OII shares. ValuEngine raised shares of Oceaneering International from a “hold” rating to a “buy” rating in a research note on Friday, June 22nd. Zacks Investment Research raised shares of Oceaneering International from a “hold” rating to a “buy” rating and set a $30.00 price target for the company in a research note on Monday, July 16th. Royal Bank of Canada reissued a “buy” rating and set a $28.00 price target on shares of Oceaneering International in a research note on Friday, July 27th. Jefferies Financial Group reissued a “hold” rating and set a $24.00 price target on shares of Oceaneering International in a research note on Friday, July 27th. Finally, Wells Fargo & Co boosted their price target on shares of Oceaneering International from $24.00 to $25.00 and gave the stock a “hold” rating in a research note on Friday, July 27th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and six have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $25.43.

Shares of NYSE OII traded up $0.60 during trading on Friday, reaching $25.26. The company had a trading volume of 1,001,216 shares, compared to its average volume of 1,304,762. The company has a current ratio of 2.61, a quick ratio of 2.17 and a debt-to-equity ratio of 0.50. The company has a market cap of $2.72 billion, a PE ratio of -360.86 and a beta of 1.37. Oceaneering International has a 52 week low of $17.11 and a 52 week high of $28.62.

In related news, Director T Jay Collins sold 16,750 shares of the business’s stock in a transaction that occurred on Wednesday, August 8th. The shares were sold at an average price of $26.50, for a total transaction of $443,875.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 1.10% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. grew its holdings in Oceaneering International by 31.3% during the second quarter. BlackRock Inc. now owns 11,198,680 shares of the oil and gas company’s stock valued at $285,118,000 after purchasing an additional 2,667,334 shares during the period. Dimensional Fund Advisors LP grew its holdings in Oceaneering International by 10.6% during the second quarter. Dimensional Fund Advisors LP now owns 7,654,076 shares of the oil and gas company’s stock valued at $194,872,000 after purchasing an additional 735,367 shares during the period. Barrow Hanley Mewhinney & Strauss LLC grew its holdings in Oceaneering International by 164.0% during the first quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,676,654 shares of the oil and gas company’s stock valued at $68,165,000 after purchasing an additional 2,284,186 shares during the period. Millennium Management LLC grew its holdings in Oceaneering International by 12.0% during the second quarter. Millennium Management LLC now owns 2,561,127 shares of the oil and gas company’s stock valued at $65,206,000 after purchasing an additional 275,126 shares during the period. Finally, Fisher Asset Management LLC grew its holdings in Oceaneering International by 140.8% during the second quarter. Fisher Asset Management LLC now owns 1,562,067 shares of the oil and gas company’s stock valued at $39,770,000 after purchasing an additional 913,375 shares during the period.

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 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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