Oceaneering International (NYSE:OII) Expected to Post Quarterly Sales of $538.88 Million

Equities research analysts expect Oceaneering International (NYSE:OII) to post $538.88 million in sales for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for Oceaneering International’s earnings. The highest sales estimate is $592.90 million and the lowest is $513.80 million. Oceaneering International reported sales of $519.30 million in the same quarter last year, which indicates a positive year over year growth rate of 3.8%. The company is scheduled to announce its next earnings results after the market closes on Wednesday, October 30th.

According to Zacks, analysts expect that Oceaneering International will report full year sales of $2.08 billion for the current financial year, with estimates ranging from $2.03 billion to $2.20 billion. For the next fiscal year, analysts expect that the business will report sales of $2.33 billion, with estimates ranging from $2.26 billion to $2.48 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Oceaneering International.

Oceaneering International (NYSE:OII) last released its quarterly earnings results on Wednesday, July 24th. The oil and gas company reported ($0.32) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.25) by ($0.07). Oceaneering International had a negative return on equity of 4.38% and a negative net margin of 9.49%. The business had revenue of $495.78 million during the quarter, compared to the consensus estimate of $524.97 million. During the same quarter in the previous year, the business posted ($0.23) earnings per share. The firm’s revenue was up 3.6% on a year-over-year basis.

Several research analysts have weighed in on OII shares. ValuEngine downgraded shares of Oceaneering International from a “buy” rating to a “hold” rating in a research report on Tuesday, July 2nd. Royal Bank of Canada set a $20.00 price target on shares of Oceaneering International and gave the stock a “buy” rating in a research report on Friday, July 26th. Finally, Citigroup decreased their price target on shares of Oceaneering International from $22.00 to $14.00 and set a “neutral” rating on the stock in a research report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company. Oceaneering International has a consensus rating of “Hold” and a consensus target price of $18.20.

OII traded down $0.06 during trading on Friday, hitting $14.18. The company’s stock had a trading volume of 410,045 shares, compared to its average volume of 1,388,603. The company has a quick ratio of 2.01, a current ratio of 2.43 and a debt-to-equity ratio of 0.71. Oceaneering International has a one year low of $10.74 and a one year high of $26.27. The firm has a market cap of $1.33 billion, a PE ratio of -19.97 and a beta of 2.19. The business’s 50 day simple moving average is $13.53 and its 200-day simple moving average is $16.17.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Cerebellum GP LLC purchased a new stake in shares of Oceaneering International in the third quarter worth $32,000. C M Bidwell & Associates Ltd. purchased a new stake in shares of Oceaneering International in the second quarter worth $36,000. Point72 Hong Kong Ltd purchased a new stake in shares of Oceaneering International in the second quarter worth $50,000. US Bancorp DE increased its stake in shares of Oceaneering International by 36.6% in the second quarter. US Bancorp DE now owns 4,893 shares of the oil and gas company’s stock worth $100,000 after purchasing an additional 1,310 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its stake in shares of Oceaneering International by 54.8% in the second quarter. Nisa Investment Advisors LLC now owns 11,300 shares of the oil and gas company’s stock worth $230,000 after purchasing an additional 4,000 shares in the last quarter. 95.37% of the stock is owned by hedge funds and other institutional investors.

About Oceaneering International

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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