Zacks: Analysts Anticipate Oceaneering International, Inc. (NYSE:OII) Will Post Quarterly Sales of $513.30 Million

Equities research analysts expect that Oceaneering International, Inc. (NYSE:OIIGet Rating) will post sales of $513.30 million for the current quarter, Zacks reports. Two analysts have provided estimates for Oceaneering International’s earnings, with the highest sales estimate coming in at $520.60 million and the lowest estimate coming in at $506.00 million. Oceaneering International reported sales of $498.20 million during the same quarter last year, which would suggest a positive year over year growth rate of 3%. The firm is expected to report its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Oceaneering International will report full year sales of $2.05 billion for the current year, with estimates ranging from $2.03 billion to $2.08 billion. For the next fiscal year, analysts expect that the company will report sales of $2.23 billion, with estimates ranging from $2.16 billion to $2.31 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Oceaneering International.

Oceaneering International (NYSE:OIIGet Rating) last issued its earnings results on Wednesday, April 27th. The oil and gas company reported ($0.06) EPS 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 analysts’ expectations of $416.05 million. During the same period in the prior year, the business earned $0.03 earnings per share.

Several equities research analysts recently issued reports on OII shares. StockNews.com cut shares of Oceaneering International from a “buy” rating to a “hold” rating in a research report on Wednesday, May 4th. Piper Sandler increased their target price on shares of Oceaneering International from $22.50 to $25.00 and gave the stock an “overweight” rating in a research note on Monday, April 18th.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. boosted its stake in shares of Oceaneering International by 7.1% in the fourth quarter. BlackRock Inc. now owns 18,822,569 shares of the oil and gas company’s stock valued at $212,883,000 after purchasing an additional 1,243,383 shares during the period. Van ECK Associates Corp boosted its stake in shares of Oceaneering International by 7.8% in the first quarter. Van ECK Associates Corp now owns 5,040,606 shares of the oil and gas company’s stock valued at $76,416,000 after purchasing an additional 364,390 shares during the period. State Street Corp lifted its stake in Oceaneering International by 2.9% in the fourth quarter. State Street Corp now owns 4,230,517 shares of the oil and gas company’s stock worth $47,847,000 after acquiring an additional 118,760 shares during the last quarter. Sourcerock Group LLC lifted its stake in Oceaneering International by 41.3% in the fourth quarter. Sourcerock Group LLC now owns 3,299,713 shares of the oil and gas company’s stock worth $37,320,000 after acquiring an additional 964,944 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in Oceaneering International by 6.2% in the third quarter. Geode Capital Management LLC now owns 1,846,454 shares of the oil and gas company’s stock worth $24,594,000 after acquiring an additional 107,988 shares during the last quarter. 87.15% of the stock is owned by institutional investors and hedge funds.

Oceaneering International stock opened at $10.35 on Friday. Oceaneering International has a 12-month low of $9.92 and a 12-month high of $18.20. The stock has a market cap of $1.04 billion, a P/E ratio of -17.54 and a beta of 3.00. The company has a 50-day moving average price of $14.44 and a 200 day moving average price of $13.47. The company has a current ratio of 2.46, a quick ratio of 2.06 and a debt-to-equity ratio of 1.40.

Oceaneering International Company Profile (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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