Zacks: Analysts Expect Oceaneering International (OII) to Announce -$0.22 Earnings Per Share

Brokerages forecast that Oceaneering International (NYSE:OII) will announce earnings per share of ($0.22) for the current fiscal quarter, according to Zacks. Seven analysts have issued estimates for Oceaneering International’s earnings, with the highest EPS estimate coming in at ($0.18) and the lowest estimate coming in at ($0.25). Oceaneering International reported earnings per share of ($0.08) in the same quarter last year, which would indicate a negative year-over-year growth rate of 175%. The company is expected to announce its next quarterly earnings results on Thursday, February 28th.

On average, analysts expect that Oceaneering International will report full year earnings of ($1.03) per share for the current financial year, with EPS estimates ranging from ($1.10) to ($0.99). For the next fiscal year, analysts expect that the firm will post earnings of ($0.42) per share, with EPS estimates ranging from ($0.68) to ($0.24). Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Oceaneering International.

Oceaneering International (NYSE:OII) last announced its earnings results on Wednesday, October 24th. The oil and gas company reported ($0.14) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.16) by $0.02. The company had revenue of $519.30 million during the quarter, compared to analysts’ expectations of $492.15 million. Oceaneering International had a net margin of 1.34% and a negative return on equity of 5.33%.

A number of research analysts recently commented on OII shares. Cowen started coverage on Oceaneering International in a research note on Saturday, October 13th. They issued a “hold” rating and a $27.00 price target for the company. Zacks Investment Research raised 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. SunTrust Banks set a $24.00 price target on Oceaneering International and gave the company a “hold” rating in a research note on Tuesday, October 16th. They noted that the move was a valuation call. Seaport Global Securities reaffirmed a “neutral” rating on shares of Oceaneering International in a research note on Wednesday, August 29th. Finally, Societe Generale raised Oceaneering International from a “hold” rating to a “buy” rating and set a $32.00 price target for the company in a research note on Friday, October 12th. Thirteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Oceaneering International has an average rating of “Hold” and a consensus price target of $25.75.

Shares of Oceaneering International stock traded down $0.08 during trading on Tuesday, reaching $18.96. The company’s stock had a trading volume of 1,331,952 shares, compared to its average volume of 1,139,786. The stock has a market cap of $1.87 billion, a PE ratio of -270.86 and a beta of 1.66. Oceaneering International has a 52 week low of $17.41 and a 52 week high of $28.62. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.17 and a current ratio of 2.50.

In related news, Director T Jay Collins sold 16,750 shares of the business’s stock in a transaction dated Wednesday, August 8th. The stock was sold at an average price of $26.50, for a total value of $443,875.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.10% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of OII. BlackRock Inc. raised its stake 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 worth $285,118,000 after acquiring an additional 2,667,334 shares in the last quarter. Fisher Asset Management LLC raised its stake in Oceaneering International by 95.0% during the third quarter. Fisher Asset Management LLC now owns 3,046,161 shares of the oil and gas company’s stock worth $84,074,000 after acquiring an additional 1,484,094 shares in the last quarter. Legal & General Group Plc raised its stake in Oceaneering International by 917.5% during the first quarter. Legal & General Group Plc now owns 1,548,354 shares of the oil and gas company’s stock worth $28,707,000 after acquiring an additional 1,396,187 shares in the last quarter. Dimensional Fund Advisors LP raised its stake 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 worth $194,872,000 after acquiring an additional 735,367 shares in the last quarter. Finally, Northern Trust Corp raised its stake in Oceaneering International by 82.3% during the second quarter. Northern Trust Corp now owns 1,557,801 shares of the oil and gas company’s stock worth $39,661,000 after acquiring an additional 703,347 shares in the last quarter.

About Oceaneering International

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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