Oceaneering International (NYSE:OII) announced its quarterly earnings results on Thursday. The oil and gas company reported ($0.08) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.02, Bloomberg Earnings reports. The firm had revenue of $484.20 million during the quarter, compared to analyst estimates of $435.90 million. Oceaneering International had a positive return on equity of 0.21% and a negative net margin of 0.94%. Oceaneering International’s quarterly revenue was down .9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.03 earnings per share.
Shares of Oceaneering International (NYSE OII) traded down $0.39 during trading hours on Friday, reaching $18.61. 639,877 shares of the company were exchanged, compared to its average volume of 1,285,011. The company has a market capitalization of $1,838.80, a P/E ratio of -100.00 and a beta of 1.44. Oceaneering International has a 52 week low of $17.11 and a 52 week high of $29.53. The company has a quick ratio of 2.14, a current ratio of 2.67 and a debt-to-equity ratio of 0.53.
OII has been the subject of a number of research reports. Royal Bank of Canada reiterated a “buy” rating and issued a $27.00 price target on shares of Oceaneering International in a report on Monday, October 30th. Scotiabank set a $37.00 price target on Oceaneering International and gave the company a “buy” rating in a report on Friday, October 27th. Tudor Pickering upgraded Oceaneering International from a “hold” rating to a “buy” rating in a report on Monday, November 6th. Capital One Financial lowered Oceaneering International from an “overweight” rating to an “equal weight” rating in a report on Thursday, November 16th. Finally, Societe Generale lowered Oceaneering International from a “buy” rating to a “hold” rating in a report on Monday, October 30th. Eight analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $23.46.
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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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