Brokers Issue Forecasts for Oceaneering International’s Q4 2017 Earnings (OII)

Oceaneering International (NYSE:OII) – Equities research analysts at Jefferies Group cut their Q4 2017 EPS estimates for shares of Oceaneering International in a research report issued to clients and investors on Thursday. Jefferies Group analyst B. Handler now forecasts that the oil and gas company will post earnings per share of ($0.13) for the quarter, down from their prior estimate of ($0.12). Jefferies Group has a “Underperform” rating and a $18.00 price objective on the stock. Jefferies Group also issued estimates for Oceaneering International’s Q1 2018 earnings at ($0.24) EPS, Q3 2018 earnings at ($0.10) EPS, Q4 2018 earnings at ($0.11) EPS, FY2018 earnings at ($0.60) EPS and FY2019 earnings at ($0.15) EPS.

Oceaneering International (NYSE:OII) last announced its quarterly earnings data on Wednesday, October 25th. The oil and gas company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.03 by ($0.01). The firm had revenue of $476.12 million for the quarter, compared to analyst estimates of $511.14 million. Oceaneering International had a negative net margin of 0.94% and a positive return on equity of 0.21%. The firm’s revenue for the quarter was down 13.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.17 earnings per share.

OII has been the subject of several other reports. Barclays started coverage on shares of Oceaneering International in a report on Friday, October 6th. They set an “equal weight” rating and a $28.00 price target for the company. Royal Bank of Canada set a $22.00 price target on shares of Oceaneering International and gave the stock a “buy” rating in a report on Thursday, December 21st. Piper Jaffray Companies reiterated an “overweight” rating and set a $28.00 price target (up from $26.00) on shares of Oceaneering International in a report on Tuesday, October 3rd. JPMorgan Chase & Co. decreased their price objective on Oceaneering International from $22.00 to $21.00 and set an “underweight” rating for the company in a report on Tuesday, September 12th. Finally, Citigroup decreased their price objective on Oceaneering International from $25.00 to $20.00 and set a “neutral” rating for the company in a report on Monday, October 30th. Seven equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $23.70.

Oceaneering International (NYSE:OII) opened at $22.97 on Monday. The stock has a market cap of $2,260.00, a price-to-earnings ratio of -120.89 and a beta of 1.62. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.14 and a current ratio of 2.67. Oceaneering International has a 1-year low of $17.11 and a 1-year high of $29.53.

Hedge funds have recently added to or reduced their stakes in the company. Shell Asset Management Co. boosted its position in shares of Oceaneering International by 109.1% during the 3rd quarter. Shell Asset Management Co. now owns 53,055 shares of the oil and gas company’s stock worth $3,458,000 after purchasing an additional 27,684 shares in the last quarter. Magnetar Financial LLC acquired a new stake in shares of Oceaneering International in the 3rd quarter worth about $1,684,000. Personal Capital Advisors Corp raised its holdings in shares of Oceaneering International by 14.4% in the 3rd quarter. Personal Capital Advisors Corp now owns 93,647 shares of the oil and gas company’s stock worth $2,460,000 after acquiring an additional 11,818 shares during the last quarter. BNP Paribas Arbitrage SA raised its holdings in shares of Oceaneering International by 76.0% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 197,692 shares of the oil and gas company’s stock worth $5,193,000 after acquiring an additional 85,357 shares during the last quarter. Finally, Schroder Investment Management Group raised its holdings in shares of Oceaneering International by 10.0% in the 2nd quarter. Schroder Investment Management Group now owns 425,177 shares of the oil and gas company’s stock worth $9,635,000 after acquiring an additional 38,535 shares during the last quarter. 99.69% of the stock is currently owned by institutional investors.

ILLEGAL ACTIVITY WARNING: This news story was first 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 stolen and reposted in violation of U.S. and international copyright and trademark law. The legal version of this news story can be accessed at https://www.com-unik.info/2018/01/10/brokers-issue-forecasts-for-oceaneering-internationals-q4-2017-earnings-oii.html.

About Oceaneering International

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? - 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 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