Jefferies Group Equities Analysts Cut Earnings Estimates for Oceaneering International (OII)

Oceaneering International (NYSE:OII) – Stock analysts at Jefferies Group decreased their Q4 2017 earnings estimates for Oceaneering International in a report released on Thursday. Jefferies Group analyst B. Handler now forecasts that the oil and gas company will earn ($0.13) per share 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 released its quarterly earnings data on Wednesday, October 25th. The oil and gas company reported $0.02 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.01). Oceaneering International had a negative net margin of 0.94% and a positive return on equity of 0.21%. The firm had revenue of $476.12 million for the quarter, compared to analyst estimates of $511.14 million. During the same period last year, the business earned $0.17 EPS. The company’s revenue was down 13.3% compared to the same quarter last year.

Several other research analysts have also issued reports on OII. Zacks Investment Research lowered Oceaneering International from a “hold” rating to a “sell” rating in a research report on Tuesday, January 2nd. Barclays began coverage on Oceaneering International in a research report on Friday, October 6th. They set an “equal weight” rating and a $28.00 target price for the company. Cowen set a $28.00 target price on Oceaneering International and gave the stock a “hold” rating in a research report on Friday, October 6th. Piper Jaffray Companies lowered Oceaneering International from an “overweight” rating to a “neutral” rating in a research report on Friday, October 27th. Finally, Citigroup lowered their target price on Oceaneering International from $25.00 to $20.00 and set a “neutral” rating for the company in a research report on Monday, October 30th. Seven 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 company has a consensus rating of “Hold” and a consensus target price of $23.70.

Shares of Oceaneering International (NYSE OII) opened at $23.45 on Monday. The company has a current ratio of 2.67, a quick ratio of 2.14 and a debt-to-equity ratio of 0.53. Oceaneering International has a twelve month low of $17.11 and a twelve month high of $29.53. The firm has a market capitalization of $2,300.00, a price-to-earnings ratio of -123.42 and a beta of 1.62.

Hedge funds have recently bought and sold shares of the company. Zions Bancorporation bought a new position in shares of Oceaneering International in the 3rd quarter worth about $100,000. Quantbot Technologies LP bought a new stake in Oceaneering International in the 3rd quarter valued at about $103,000. Meeder Asset Management Inc. increased its position in Oceaneering International by 121.2% in the 3rd quarter. Meeder Asset Management Inc. now owns 5,229 shares of the oil and gas company’s stock valued at $138,000 after buying an additional 2,865 shares in the last quarter. Pacad Investment Ltd. increased its position in Oceaneering International by 231.3% in the 2nd quarter. Pacad Investment Ltd. now owns 5,300 shares of the oil and gas company’s stock valued at $121,000 after buying an additional 3,700 shares in the last quarter. Finally, World Asset Management Inc bought a new stake in Oceaneering International in the 3rd quarter valued at about $201,000. 99.69% of the stock is owned by hedge funds and other institutional investors.

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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)

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