Zacks: Analysts Expect Oceaneering International, Inc. (NYSE:OII) Will Announce Earnings of $0.08 Per Share

Wall Street brokerages forecast that Oceaneering International, Inc. (NYSE:OIIGet Rating) will report $0.08 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Oceaneering International’s earnings. The lowest EPS estimate is $0.00 and the highest is $0.15. Oceaneering International reported earnings per share of $0.10 in the same quarter last year, which suggests a negative year over year growth rate of 20%. The firm is scheduled to issue its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that Oceaneering International will report full-year earnings of $0.53 per share for the current fiscal year, with EPS estimates ranging from $0.52 to $0.53. For the next financial year, analysts expect that the firm will report earnings of $0.85 per share, with EPS estimates ranging from $0.76 to $0.99. 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:OIIGet Rating) last announced its quarterly earnings data on Wednesday, April 27th. The oil and gas company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.04. Oceaneering International had a negative net margin of 3.15% and a positive return on equity of 1.42%. The business had revenue of $446.16 million during the quarter, compared to the consensus estimate of $416.05 million. During the same quarter in the prior year, the firm earned $0.03 EPS.

A number of equities research analysts recently weighed in on the stock. Piper Sandler boosted their price objective on shares of Oceaneering International from $22.50 to $25.00 and gave the company an “overweight” rating in a research report on Monday, April 18th. StockNews.com downgraded shares of Oceaneering International from a “buy” rating to a “hold” rating in a research report on Wednesday, May 4th.

Shares of NYSE:OII traded up $0.43 during trading on Wednesday, reaching $11.04. 1,946 shares of the company’s stock traded hands, compared to its average volume of 898,113. The company has a debt-to-equity ratio of 1.40, a current ratio of 2.46 and a quick ratio of 2.06. Oceaneering International has a 12 month low of $10.22 and a 12 month high of $18.20. The company’s 50 day moving average is $14.53. The stock has a market cap of $1.11 billion, a PE ratio of -18.75 and a beta of 3.00.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Barrow Hanley Mewhinney & Strauss LLC bought a new position in shares of Oceaneering International in the fourth quarter valued at approximately $27,000. MCF Advisors LLC bought a new position in shares of Oceaneering International in the first quarter valued at approximately $44,000. Advisor Group Holdings Inc. boosted its holdings in shares of Oceaneering International by 111.6% in the first quarter. Advisor Group Holdings Inc. now owns 3,100 shares of the oil and gas company’s stock valued at $47,000 after acquiring an additional 1,635 shares in the last quarter. Rockefeller Capital Management L.P. bought a new position in shares of Oceaneering International in the fourth quarter valued at approximately $90,000. Finally, Walleye Trading LLC bought a new position in shares of Oceaneering International in the fourth quarter valued at approximately $115,000. Hedge funds and other institutional investors own 87.15% of the company’s stock.

About Oceaneering International (Get Rating)

Oceaneering International, Inc provides engineered services, products, and robotic solutions to the offshore energy, defense, aerospace, manufacturing, and entertainment industries worldwide. The company's Subsea Robotics segment provides remotely operated vehicles (ROVs) for drill support and vessel-based services, including subsea hardware installation, construction, pipeline inspection, survey and facilities inspection, maintenance, and repair.

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