$465.35 Million in Sales Expected for Oceaneering International, Inc. (NYSE:OII) This Quarter

Brokerages expect Oceaneering International, Inc. (NYSE:OII) to announce sales of $465.35 million for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Oceaneering International’s earnings, with the lowest sales estimate coming in at $453.70 million and the highest estimate coming in at $477.00 million. Oceaneering International posted sales of $427.22 million in the same quarter last year, which would indicate a positive year over year growth rate of 8.9%. The company is scheduled to report its next quarterly earnings report after the market closes on Wednesday, July 28th.

According to Zacks, analysts expect that Oceaneering International will report full-year sales of $1.78 billion for the current financial year, with estimates ranging from $1.75 billion to $1.80 billion. For the next fiscal year, analysts expect that the business will report sales of $1.88 billion, with estimates ranging from $1.83 billion to $1.92 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Oceaneering International.

Oceaneering International (NYSE:OII) last issued its quarterly earnings results on Wednesday, April 28th. The oil and gas company reported $0.03 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.06) by $0.09. The firm had revenue of $437.55 million for the quarter, compared to analyst estimates of $429.05 million. Oceaneering International had a negative net margin of 8.01% and a negative return on equity of 4.76%. The business’s revenue for the quarter was down 18.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.04 EPS.

A number of equities research analysts have recently issued reports on OII shares. TheStreet raised shares of Oceaneering International from a “d+” rating to a “c-” rating in a research note on Wednesday, May 19th. Zacks Investment Research raised shares of Oceaneering International from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a research note on Tuesday, May 4th. Finally, Bank of America raised shares of Oceaneering International from a “neutral” rating to a “buy” rating and upped their price objective for the company from $12.50 to $15.00 in a research note on Wednesday, May 5th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $12.60.

Shares of NYSE:OII traded down $0.49 during trading on Monday, reaching $13.09. The company had a trading volume of 7,603 shares, compared to its average volume of 748,483. Oceaneering International has a 12 month low of $3.31 and a 12 month high of $18.20. The stock has a market cap of $1.31 billion, a PE ratio of -9.77 and a beta of 3.54. The company has a fifty day moving average price of $15.44. The company has a debt-to-equity ratio of 1.47, a current ratio of 2.79 and a quick ratio of 2.47.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Mutual of America Capital Management LLC increased its stake in shares of Oceaneering International by 6.5% in the 1st quarter. Mutual of America Capital Management LLC now owns 13,262 shares of the oil and gas company’s stock worth $151,000 after acquiring an additional 815 shares in the last quarter. State of Alaska Department of Revenue increased its stake in shares of Oceaneering International by 2.8% in the 2nd quarter. State of Alaska Department of Revenue now owns 69,028 shares of the oil and gas company’s stock worth $1,074,000 after acquiring an additional 1,870 shares in the last quarter. Swiss National Bank increased its stake in shares of Oceaneering International by 0.8% in the 1st quarter. Swiss National Bank now owns 226,848 shares of the oil and gas company’s stock worth $2,591,000 after acquiring an additional 1,900 shares in the last quarter. Gamco Investors INC. ET AL increased its stake in shares of Oceaneering International by 0.7% in the 1st quarter. Gamco Investors INC. ET AL now owns 274,767 shares of the oil and gas company’s stock worth $3,138,000 after acquiring an additional 2,000 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Oceaneering International by 28.4% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,895 shares of the oil and gas company’s stock worth $159,000 after acquiring an additional 3,073 shares in the last quarter. Institutional investors and hedge funds own 88.36% of the company’s stock.

About Oceaneering International

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 Subsea Robotics segment provides remotely operated vehicles (ROVs) to customers in the energy industry for drilling support and vessel-based services, including subsea hardware installation, construction, pipeline inspection, survey and facilities inspection, maintenance and repair.

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

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