Brokerages expect Oceaneering International, Inc. (NYSE:OII) to announce sales of $510.87 million for the current quarter, Zacks Investment Research reports. Seven analysts have provided estimates for Oceaneering International’s earnings. The highest sales estimate is $530.50 million and the lowest is $470.80 million. Oceaneering International reported sales of $549.28 million in the same quarter last year, which indicates a negative year over year growth rate of 7%. The firm is expected to issue its next earnings report on Thursday, October 26th.

On average, analysts expect that Oceaneering International will report full-year sales of $510.87 million for the current financial year, with estimates ranging from $1.87 billion to $1.99 billion. For the next year, analysts forecast that the company will report sales of $2.02 billion per share, with estimates ranging from $1.86 billion to $2.14 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that follow Oceaneering International.

Oceaneering International (NYSE:OII) last released its quarterly earnings results on Wednesday, July 26th. The oil and gas company reported $0.02 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.03. Oceaneering International had a negative net margin of 1.41% and a positive return on equity of 1.14%. The firm had revenue of $515.04 million during the quarter, compared to analyst estimates of $481.86 million. During the same quarter in the prior year, the firm earned $0.23 EPS. The business’s revenue for the quarter was down 17.7% compared to the same quarter last year.

A number of analysts have weighed in on the company. Jefferies Group LLC set a $25.00 price objective on Oceaneering International and gave the stock a “hold” rating in a research report on Wednesday, May 17th. Cowen and Company set a $28.00 price objective on Oceaneering International and gave the stock a “hold” rating in a research report on Friday, August 4th. Piper Jaffray Companies set a $26.00 price objective on Oceaneering International and gave the stock a “buy” rating in a research report on Sunday, July 30th. Scotiabank set a $37.00 price objective on Oceaneering International and gave the stock a “buy” rating in a research report on Friday, July 28th. Finally, Wolfe Research cut Oceaneering International from a “market perform” rating to an “underperform” rating in a research report on Tuesday, June 6th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $29.30.

Institutional investors have recently modified their holdings of the company. Pacad Investment Ltd. boosted its position in shares of Oceaneering International by 231.3% in the second quarter. Pacad Investment Ltd. now owns 5,300 shares of the oil and gas company’s stock valued at $121,000 after buying an additional 3,700 shares in the last quarter. Westpac Banking Corp bought a new position in Oceaneering International during the first quarter valued at $144,000. LS Investment Advisors LLC increased its position in Oceaneering International by 18.4% in the second quarter. LS Investment Advisors LLC now owns 7,650 shares of the oil and gas company’s stock valued at $175,000 after buying an additional 1,188 shares during the last quarter. Teacher Retirement System of Texas increased its position in Oceaneering International by 4.0% in the first quarter. Teacher Retirement System of Texas now owns 7,808 shares of the oil and gas company’s stock valued at $211,000 after buying an additional 300 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. increased its position in Oceaneering International by 7.7% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 7,814 shares of the oil and gas company’s stock valued at $212,000 after buying an additional 560 shares during the last quarter. 99.71% of the stock is owned by hedge funds and other institutional investors.

ILLEGAL ACTIVITY WARNING: “Oceaneering International, Inc. (OII) Expected to Announce Quarterly Sales of $510.87 Million” was published by Watch List News and is the sole property of of Watch List News. If you are viewing this story on another publication, it was illegally stolen and reposted in violation of United States & international copyright & trademark laws. The legal version of this story can be accessed at https://www.watchlistnews.com/oceaneering-international-inc-oii-expected-to-announce-quarterly-sales-of-510-87-million/1533817.html.

Shares of Oceaneering International (NYSE:OII) opened at 22.38 on Thursday. Oceaneering International has a 52-week low of $20.74 and a 52-week high of $32.12. The stock’s market cap is $2.20 billion. The stock’s 50 day moving average is $23.83 and its 200 day moving average is $25.35.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, August 25th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, August 23rd. This represents a $0.60 annualized dividend and a yield of 2.68%. Oceaneering International’s dividend payout ratio is presently -206.90%.

About Oceaneering International

Oceaneering International, Inc is an oilfield provider of engineered services and products, primarily to the offshore oil and gas industry, with a focus on deepwater applications. The Company’s business segments are contained within two businesses: services and products provided to the oil and gas industry (Oilfield) and all other services and products (Advanced Technologies).

Get a free copy of the Zacks research report on Oceaneering International (OII)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Oceaneering International (NYSE:OII)

Receive News & Ratings for Oceaneering International Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Oceaneering International Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.