Oceaneering International (OII) Forecasted to Post Q2 2019 Earnings of ($0.34) Per Share

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Oceaneering International (NYSE:OII) – Analysts at Jefferies Financial Group cut their Q2 2019 earnings per share (EPS) estimates for Oceaneering International in a research note issued on Tuesday, April 30th. Jefferies Financial Group analyst E. Royes now forecasts that the oil and gas company will post earnings of ($0.34) per share for the quarter, down from their prior forecast of ($0.30). Jefferies Financial Group currently has a “Buy” rating and a $18.00 price target on the stock. Jefferies Financial Group also issued estimates for Oceaneering International’s Q3 2019 earnings at ($0.15) EPS, Q4 2019 earnings at ($0.21) EPS, FY2019 earnings at ($0.95) EPS and FY2020 earnings at $0.00 EPS.

Other analysts also recently issued reports about the stock. Cowen lifted their price target on shares of Oceaneering International from $16.00 to $19.00 and gave the company a “market perform” rating in a report on Friday. ValuEngine upgraded shares of Oceaneering International from a “hold” rating to a “buy” rating in a report on Wednesday. Societe Generale set a $17.00 price target on shares of Oceaneering International and gave the company a “hold” rating in a report on Friday, February 15th. Zacks Investment Research upgraded shares of Oceaneering International from a “sell” rating to a “hold” rating in a report on Thursday, January 17th. Finally, Barclays upgraded shares of Oceaneering International from an “equal weight” rating to an “overweight” rating and set a $19.00 price target on the stock in a report on Wednesday, February 20th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $21.46.

Shares of NYSE OII opened at $19.41 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.12 and a current ratio of 2.44. The firm has a market capitalization of $1.90 billion, a price-to-earnings ratio of -27.34 and a beta of 2.09. Oceaneering International has a 52-week low of $10.74 and a 52-week high of $28.62.

Oceaneering International (NYSE:OII) last announced its quarterly earnings results on Monday, April 29th. The oil and gas company reported ($0.24) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.21. The company had revenue of $493.89 million for the quarter, compared to the consensus estimate of $466.33 million. Oceaneering International had a negative net margin of 9.46% and a negative return on equity of 3.64%. Oceaneering International’s revenue for the quarter was up 18.6% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.41) EPS.

Large investors have recently modified their holdings of the business. TVR Capital Management LP grew its stake in shares of Oceaneering International by 344.4% in the 4th quarter. TVR Capital Management LP now owns 200,000 shares of the oil and gas company’s stock worth $2,420,000 after buying an additional 155,000 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Oceaneering International by 6.3% during the 4th quarter. Geode Capital Management LLC now owns 1,049,604 shares of the oil and gas company’s stock worth $12,700,000 after purchasing an additional 62,205 shares during the period. Teton Advisors Inc. boosted its stake in shares of Oceaneering International by 26.1% during the 4th quarter. Teton Advisors Inc. now owns 37,200 shares of the oil and gas company’s stock worth $450,000 after purchasing an additional 7,700 shares during the period. Vanguard Group Inc. boosted its stake in shares of Oceaneering International by 1.3% during the 3rd quarter. Vanguard Group Inc. now owns 9,008,693 shares of the oil and gas company’s stock worth $248,639,000 after purchasing an additional 116,111 shares during the period. Finally, Fisher Asset Management LLC boosted its stake in shares of Oceaneering International by 1.4% during the 4th quarter. Fisher Asset Management LLC now owns 3,087,935 shares of the oil and gas company’s stock worth $37,364,000 after purchasing an additional 41,774 shares during the period.

About Oceaneering International

Oceaneering International, Inc provides engineered services and products to the offshore oil and gas industry, as well as to 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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Earnings History and Estimates for Oceaneering International (NYSE:OII)

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