Oceaneering International, Inc. (OII) Expected to Announce Quarterly Sales of $510.87 Million
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.
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).
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