Oceaneering International, Inc. (NYSE:OII) Expected to Report Quarterly Sales of $442.85 Million
Wall Street analysts expect Oceaneering International, Inc. (NYSE:OII – Get Rating) to report sales of $442.85 million for the current quarter, Zacks reports. Two analysts released earnings estimates for Oceaneering International. The highest sales estimate is $456.70 million and the lowest is $429.00 million. Oceaneering International recorded sales of $437.55 million in the same quarter last year, suggesting a positive year-over-year growth rate of 1.2%. The company is expected to announce its next quarterly earnings report on Wednesday, April 27.
On average, analysts expect Oceaneering International to report annual revenue of $2.02 billion for the current fiscal year, with estimates ranging from $1.98 billion to $2.07 billion. dollars. For next year, analysts expect the company to record sales of $2.27 billion. Zacks Investment Research’s sales calculations are an average average based on a survey of sell-side analysts who cover Oceaneering International.
Oceaneering International (NYSE:OII – Get Rating) last released its quarterly earnings data on Thursday, February 24. The oil and gas company reported earnings per share of $0.05 for the quarter, beating the Zacks consensus estimate of $0.03 by $0.02. Oceaneering International recorded a negative net margin of 2.64% and a positive return on equity of 3.09%. The company posted revenue of $466.71 million for the quarter, versus a consensus estimate of $467.96 million. In the same quarter of the previous year, the company had earned earnings per share of $0.02. The company’s revenue for the quarter increased 10.0% compared to the same quarter last year.
Several equity analysts have recently weighed in on OII shares. Piper Sandler raised her price target on Oceaneering International shares from $21.00 to $22.50 and gave the company an “overweight” rating in a Monday, March 7 research note. StockNews.com upgraded shares of Oceaneering International from a “strong buy” rating to a “buy” rating in a Saturday, March 5 research note. Four research analysts rated the stock with a buy rating. Based on data from MarketBeat.com, Oceaneering International currently has an average rating of “Buy” and a consensus target price of $16.50.
OII opened at $16.47 on Friday. The company has a market capitalization of $1.64 billion, a PE ratio of -33.61 and a beta of 3.04. Oceaneering International has a 1 year minimum of $9.41 and a 1 year maximum of $18.20. The company’s 50-day simple moving average is $14.07 and its two-hundred-day simple moving average is $13.11. The company has a current ratio of 2.37, a quick ratio of 2.34 and a debt ratio of 1.37.
In other news, Director M Kevin Mcevoy sold 3,500 shares of the company in a trade dated Tuesday, December 14. The shares were sold at an average price of $11.22, for a total value of $39,270.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders of the company own 2.10% of the shares of the company.
Several institutional investors have recently changed their stake in the company. BlackRock Inc. increased its position in Oceaneering International shares by 7.1% in the fourth quarter. BlackRock Inc. now owns 18,822,569 shares of the oil and gas company worth $212,883,000 after buying an additional 1,243,383 shares in the last quarter. Van ECK Associates Corp increased its position in Oceaneering International by 16.6% during the third quarter. Van ECK Associates Corp now owns 5,956,554 shares of the oil and gas company worth $79,341,000 after buying an additional 846,680 shares in the last quarter. State Street Corp increased its position in Oceaneering International by 2.9% in the fourth quarter. State Street Corp now owns 4,230,517 shares of the oil and gas company worth $47,847,000 after buying an additional 118,760 shares in the last quarter. Sourcerock Group LLC increased its position in Oceaneering International by 41.3% during the 4th quarter. Sourcerock Group LLC now owns 3,299,713 shares of the oil and gas company worth $37,320,000 after purchasing an additional 964,944 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in Oceaneering International by 6.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,846,454 shares of the oil and gas company worth $24,594,000 after purchasing an additional 107,988 shares in the last quarter. 86.47% of the shares are currently held by hedge funds and other institutional investors.
Oceaneering International Company Profile (Get a rating)
Oceaneering International, Inc is engaged in the provision of engineering services and products. It operates through the following business segments: Underwater Robotics, Manufactured Goods, Offshore Projects Group (OPG), Integrity Management and Digital Solutions (IMDS) and Aerospace and Defense Technologies (ADTech).
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