SunTrust Banks Weighs in on Oceaneering International, Inc.’s Q2 2018 Earnings (OII)

Oceaneering International, Inc. (NYSE:OII) – Equities researchers at SunTrust Banks reduced their Q2 2018 earnings estimates for Oceaneering International in a research report issued on Friday. SunTrust Banks analyst K. Sill now expects that the oil and gas company will earn $0.02 per share for the quarter, down from their previous estimate of $0.04. SunTrust Banks also issued estimates for Oceaneering International’s Q3 2018 earnings at $0.07 EPS and Q4 2018 earnings at $0.04 EPS.

Oceaneering International (NYSE:OII) last issued its quarterly earnings data on Wednesday, July 26th. The oil and gas company reported $0.02 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.03. The firm had revenue of $515.04 million for the quarter, compared to the consensus estimate of $481.86 million. Oceaneering International had a negative net margin of 1.41% and a positive return on equity of 1.14%. Oceaneering International’s quarterly revenue was down 17.7% compared to the same quarter last year. During the same period last year, the firm posted $0.23 EPS.

COPYRIGHT VIOLATION WARNING: This news story was reported by Community Financial News and is the sole property of of Community Financial News. If you are accessing this news story on another domain, it was illegally stolen and republished in violation of international copyright laws. The legal version of this news story can be read at https://www.com-unik.info/2017/08/19/suntrust-banks-weighs-in-on-oceaneering-international-inc-s-q2-2018-earnings-oii-updated.html.

Several other equities research analysts also recently commented on OII. Jefferies Group LLC restated a “hold” rating and issued a $25.00 target price on shares of Oceaneering International in a research note on Tuesday, April 11th. Zacks Investment Research downgraded shares of Oceaneering International from a “hold” rating to a “sell” rating in a research note on Thursday, April 13th. Royal Bank Of Canada restated a “sell” rating and issued a $30.00 target price on shares of Oceaneering International in a research note on Friday, April 21st. Scotiabank restated a “buy” rating and issued a $37.00 target price on shares of Oceaneering International in a research note on Friday, April 28th. Finally, Wolfe Research downgraded shares of Oceaneering International from a “market perform” rating to an “underperform” rating in a research note on Tuesday, June 6th. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $28.50.

Shares of Oceaneering International (NYSE OII) traded down 0.82% during mid-day trading on Monday, reaching $25.30. 231,558 shares of the company traded hands. The stock’s market capitalization is $2.50 billion. Oceaneering International has a 52-week low of $20.74 and a 52-week high of $32.12. The stock’s 50 day moving average is $23.62 and its 200 day moving average is $25.85.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, August 25th will be given a dividend of $0.15 per share. The ex-dividend date is Wednesday, August 23rd. This represents a $0.60 annualized dividend and a yield of 2.35%. Oceaneering International’s dividend payout ratio (DPR) is -206.90%.

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Viking Fund Management LLC bought a new position in shares of Oceaneering International during the first quarter valued at about $2,166,000. Dean Investment Associates LLC increased its position in Oceaneering International by 8.1% in the first quarter. Dean Investment Associates LLC now owns 179,813 shares of the oil and gas company’s stock worth $4,869,000 after buying an additional 13,525 shares during the last quarter. Capstone Asset Management Co. increased its position in Oceaneering International by 6.5% in the first quarter. Capstone Asset Management Co. now owns 11,558 shares of the oil and gas company’s stock worth $313,000 after buying an additional 710 shares during the last quarter. Oxford Asset Management acquired a new position in Oceaneering International during the first quarter worth about $1,148,000. Finally, Mason Street Advisors LLC increased its position in Oceaneering International by 1.2% in the first quarter. Mason Street Advisors LLC now owns 46,331 shares of the oil and gas company’s stock worth $1,255,000 after buying an additional 562 shares during the last quarter. Institutional investors and hedge funds own 98.61% of the company’s stock.

Oceaneering International Company Profile

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).

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

What are top analysts saying about Oceaneering International Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Oceaneering International Inc. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit