Zacks: Brokerages Expect Oceaneering International, Inc. (NYSE:OII) Will Post Quarterly Sales of $479.75 Million

Equities research analysts expect Oceaneering International, Inc. (NYSE:OII) to announce sales of $479.75 million for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Oceaneering International’s earnings, with estimates ranging from $478.00 million to $481.50 million. Oceaneering International reported sales of $439.74 million during the same quarter last year, which indicates a positive year over year growth rate of 9.1%. The firm is expected to report its next quarterly earnings results on Wednesday, October 27th.

According to Zacks, analysts expect that Oceaneering International will report full-year sales of $1.87 billion for the current financial year, with estimates ranging from $1.86 billion to $1.88 billion. For the next year, analysts expect that the business will post sales of $1.97 billion, with estimates ranging from $1.96 billion to $1.98 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Oceaneering International.

Oceaneering International (NYSE:OII) last posted its earnings results on Wednesday, July 28th. The oil and gas company reported $0.10 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.05 by $0.05. Oceaneering International had a negative return on equity of 0.48% and a negative net margin of 5.97%. The business had revenue of $498.20 million during the quarter, compared to the consensus estimate of $465.35 million.

OII traded down $0.63 on Wednesday, hitting $12.01. 675,533 shares of the company traded hands, compared to its average volume of 999,088. The company has a 50 day moving average of $12.75 and a 200-day moving average of $13.45. The company has a quick ratio of 2.29, a current ratio of 2.56 and a debt-to-equity ratio of 1.37. The stock has a market capitalization of $1.20 billion, a PE ratio of -11.70 and a beta of 3.54. Oceaneering International has a 12-month low of $3.31 and a 12-month high of $18.20.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Oldfield Partners LLP raised its stake in Oceaneering International by 9.1% during the 2nd quarter. Oldfield Partners LLP now owns 100,829 shares of the oil and gas company’s stock valued at $1,570,000 after acquiring an additional 8,400 shares during the last quarter. Morgan Stanley raised its stake in Oceaneering International by 189.0% during the 2nd quarter. Morgan Stanley now owns 1,353,029 shares of the oil and gas company’s stock valued at $21,067,000 after acquiring an additional 884,814 shares during the last quarter. Weiss Multi Strategy Advisers LLC purchased a new stake in Oceaneering International during the 2nd quarter valued at approximately $1,948,000. Zacks Investment Management purchased a new stake in Oceaneering International during the 2nd quarter valued at approximately $699,000. Finally, Invesco Ltd. raised its stake in Oceaneering International by 52.9% during the 2nd quarter. Invesco Ltd. now owns 1,213,557 shares of the oil and gas company’s stock valued at $18,895,000 after acquiring an additional 419,890 shares during the last quarter. 89.20% of the stock is owned by hedge funds and other institutional investors.

About Oceaneering International

Oceaneering International, Inc engages in the provision of engineered services and products. It operates through the following business segments: Subsea Robotics, Manufactured Products, Offshore Projects Group (OPG), Integrity Management & Digital Solutions (IMDS), and Aerospace and Defense Technologies (ADTech).

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

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