Zacks: Brokerages Expect Oceaneering International (OII) Will Announce Quarterly Sales of $464.19 Million

Analysts predict that Oceaneering International (NYSE:OII) will post sales of $464.19 million for the current quarter, according to Zacks. Seven analysts have issued estimates for Oceaneering International’s earnings. The highest sales estimate is $483.00 million and the lowest is $432.25 million. Oceaneering International posted sales of $416.41 million during the same quarter last year, which suggests a positive year-over-year growth rate of 11.5%. The firm is expected to report its next earnings report after the market closes on Monday, April 29th.

On average, analysts expect that Oceaneering International will report full-year sales of $2.08 billion for the current fiscal year, with estimates ranging from $1.98 billion to $2.13 billion. For the next year, analysts anticipate that the company will post sales of $2.32 billion, with estimates ranging from $2.21 billion to $2.47 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow Oceaneering International.

Oceaneering International (NYSE:OII) last issued its quarterly earnings results on Wednesday, February 13th. The oil and gas company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.24) by $0.31. Oceaneering International had a negative return on equity of 4.55% and a negative net margin of 11.12%. The business had revenue of $495.10 million for the quarter, compared to analyst estimates of $488.12 million. During the same quarter in the prior year, the firm posted ($0.08) earnings per share. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year.

Several equities analysts have recently issued reports on the company. Societe Generale set a $17.00 price target on Oceaneering International and gave the company a “hold” rating in a research note on Friday, February 15th. Barclays raised Oceaneering International from an “equal weight” rating to an “overweight” rating and set a $19.00 price target on the stock in a research note on Wednesday, February 20th. ValuEngine raised Oceaneering International from a “sell” rating to a “hold” rating in a research note on Monday, February 4th. SunTrust Banks set a $19.00 price target on Oceaneering International and gave the company a “hold” rating in a research note on Tuesday, February 26th. Finally, Citigroup set a $17.00 price target on Oceaneering International and gave the company a “hold” rating in a research note on Tuesday, February 26th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the stock. Oceaneering International currently has a consensus rating of “Hold” and a consensus target price of $21.23.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Crossmark Global Holdings Inc. increased its holdings in shares of Oceaneering International by 4.4% in the fourth quarter. Crossmark Global Holdings Inc. now owns 16,588 shares of the oil and gas company’s stock worth $201,000 after acquiring an additional 700 shares in the last quarter. Arizona State Retirement System increased its holdings in shares of Oceaneering International by 1.1% in the fourth quarter. Arizona State Retirement System now owns 70,721 shares of the oil and gas company’s stock worth $856,000 after acquiring an additional 758 shares in the last quarter. Retirement Systems of Alabama increased its holdings in shares of Oceaneering International by 0.7% in the first quarter. Retirement Systems of Alabama now owns 128,661 shares of the oil and gas company’s stock worth $2,029,000 after acquiring an additional 906 shares in the last quarter. Bbva Compass Bancshares Inc. increased its holdings in shares of Oceaneering International by 12.7% in the fourth quarter. Bbva Compass Bancshares Inc. now owns 10,049 shares of the oil and gas company’s stock worth $122,000 after acquiring an additional 1,131 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Oceaneering International by 21.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,752 shares of the oil and gas company’s stock worth $82,000 after acquiring an additional 1,189 shares in the last quarter.

Shares of OII traded up $0.36 during trading hours on Thursday, hitting $17.06. 1,192,200 shares of the stock traded hands, compared to its average volume of 1,124,066. The company has a quick ratio of 2.12, a current ratio of 2.52 and a debt-to-equity ratio of 0.56. Oceaneering International has a 1-year low of $10.74 and a 1-year high of $28.62. The firm has a market capitalization of $1.63 billion, a PE ratio of -24.03 and a beta of 2.01.

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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