$490.15 Million in Sales Expected for Oceaneering International (OII) This Quarter
Brokerages expect Oceaneering International (NYSE:OII) to report $490.15 million in sales for the current fiscal quarter, Zacks reports. Seven analysts have made estimates for Oceaneering International’s earnings, with estimates ranging from $470.00 million to $514.00 million. Oceaneering International posted sales of $476.12 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 2.9%. The business is expected to announce its next earnings results on Wednesday, October 24th.
According to Zacks, analysts expect that Oceaneering International will report full year sales of $1.86 billion for the current fiscal year, with estimates ranging from $1.80 billion to $1.92 billion. For the next year, analysts forecast that the firm will report sales of $2.02 billion per share, with estimates ranging from $1.94 billion to $2.13 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Oceaneering International.
Oceaneering International (NYSE:OII) last announced its quarterly earnings results on Wednesday, July 25th. The oil and gas company reported ($0.23) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.26) by $0.03. The business had revenue of $479.00 million for the quarter, compared to analyst estimates of $448.96 million. Oceaneering International had a negative return on equity of 4.31% and a net margin of 4.83%. The company’s quarterly revenue was down 7.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.02 EPS.
Shares of NYSE:OII opened at $27.26 on Friday. The company has a market cap of $2.69 billion, a PE ratio of -389.43 and a beta of 1.38. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.17 and a current ratio of 2.61. Oceaneering International has a 12 month low of $17.11 and a 12 month high of $28.62.
In other Oceaneering International news, Director T Jay Collins sold 16,750 shares of the business’s stock in a transaction on Wednesday, August 8th. The stock was sold at an average price of $26.50, for a total value of $443,875.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.10% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the business. LPL Financial LLC acquired a new position in Oceaneering International in the 1st quarter valued at $186,000. Boys Arnold & Co. Inc. acquired a new stake in shares of Oceaneering International during the 2nd quarter worth $204,000. Meridian Management Co. acquired a new stake in shares of Oceaneering International during the 2nd quarter worth $204,000. Bbva Compass Bancshares Inc. acquired a new stake in shares of Oceaneering International during the 2nd quarter worth $226,000. Finally, Laurel Wealth Advisors Inc. acquired a new stake in shares of Oceaneering International during the 2nd quarter worth $229,000.
Oceaneering International Company Profile
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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