Oceaneering International (OII) to Post Q3 2019 Earnings of ($0.14) Per Share, Capital One Financial Forecasts

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Oceaneering International (NYSE:OII) – Stock analysts at Capital One Financial boosted their Q3 2019 earnings estimates for shares of Oceaneering International in a report released on Tuesday, April 30th. Capital One Financial analyst L. Lemoine now forecasts that the oil and gas company will post earnings of ($0.14) per share for the quarter, up from their previous forecast of ($0.17). Capital One Financial also issued estimates for Oceaneering International’s Q4 2019 earnings at ($0.10) EPS and FY2020 earnings at ($0.11) EPS.

Oceaneering International (NYSE:OII) last issued its quarterly earnings results on Monday, April 29th. The oil and gas company reported ($0.24) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.45) by $0.21. Oceaneering International had a negative return on equity of 3.64% and a negative net margin of 9.46%. The company had revenue of $493.89 million for the quarter, compared to the consensus estimate of $466.33 million. During the same quarter in the prior year, the business earned ($0.41) EPS. Oceaneering International’s revenue was up 18.6% on a year-over-year basis.

A number of other research analysts also recently issued reports on OII. ValuEngine upgraded Oceaneering International from a “hold” rating to a “buy” rating in a research note on Wednesday. Cowen raised their price target on Oceaneering International from $16.00 to $19.00 and gave the stock a “market perform” rating in a research note on Friday. Societe Generale set a $17.00 price target on Oceaneering International and gave the stock a “hold” rating in a research note on Friday, February 15th. Barclays upgraded Oceaneering International from an “equal weight” rating to an “overweight” rating and set a $19.00 price target on the stock in a research note on Wednesday, February 20th. Finally, Citigroup set a $17.00 price target on Oceaneering International and gave the stock a “hold” rating in a research note on Tuesday, February 26th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the company’s stock. Oceaneering International currently has an average rating of “Hold” and an average target price of $21.46.

OII opened at $19.41 on Friday. Oceaneering International has a one year low of $10.74 and a one year high of $28.62. The stock has a market capitalization of $1.90 billion, a PE ratio of -27.34 and a beta of 2.09. The company has a current ratio of 2.44, a quick ratio of 2.12 and a debt-to-equity ratio of 0.57.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Crossmark Global Holdings Inc. lifted its holdings in shares of Oceaneering International by 4.4% in the 4th quarter. Crossmark Global Holdings Inc. now owns 16,588 shares of the oil and gas company’s stock valued at $201,000 after buying an additional 700 shares during the period. Arizona State Retirement System increased its stake in Oceaneering International by 1.1% in the 4th quarter. Arizona State Retirement System now owns 70,721 shares of the oil and gas company’s stock valued at $856,000 after purchasing an additional 758 shares in the last quarter. Retirement Systems of Alabama increased its stake in Oceaneering International by 0.7% in the 1st quarter. Retirement Systems of Alabama now owns 128,661 shares of the oil and gas company’s stock valued at $2,029,000 after purchasing an additional 906 shares in the last quarter. Bbva Compass Bancshares Inc. increased its stake in Oceaneering International by 12.7% in the 4th quarter. Bbva Compass Bancshares Inc. now owns 10,049 shares of the oil and gas company’s stock valued at $122,000 after purchasing an additional 1,131 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Oceaneering International by 21.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,752 shares of the oil and gas company’s stock valued at $82,000 after purchasing an additional 1,189 shares in the last quarter.

Oceaneering International Company Profile

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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