SunTrust Banks Equities Analysts Reduce Earnings Estimates for Oceaneering International (OII)

Oceaneering International (NYSE:OII) – Stock analysts at SunTrust Banks dropped their FY2018 EPS estimates for shares of Oceaneering International in a note issued to investors on Monday, October 15th, Zacks Investment Research reports. SunTrust Banks analyst K. Sill now anticipates that the oil and gas company will post earnings per share of ($1.01) for the year, down from their prior estimate of ($0.98). SunTrust Banks currently has a “Hold” rating and a $24.00 target price on the stock. SunTrust Banks also issued estimates for Oceaneering International’s Q4 2018 earnings at ($0.18) EPS, Q1 2019 earnings at ($0.18) EPS, Q2 2019 earnings at ($0.06) EPS and FY2019 earnings at ($0.24) EPS.

Oceaneering International (NYSE:OII) last issued its quarterly earnings data on Wednesday, October 24th. The oil and gas company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.02. Oceaneering International had a negative return on equity of 5.33% and a net margin of 1.34%. The company had revenue of $519.30 million during the quarter, compared to analyst estimates of $492.15 million.

Several other research analysts have also commented on OII. Zacks Investment Research upgraded Oceaneering International from a “hold” rating to a “buy” rating and set a $30.00 price target for the company in a research report on Monday, July 16th. Royal Bank of Canada restated a “buy” rating and set a $28.00 price target on shares of Oceaneering International in a research report on Friday, July 27th. Jefferies Financial Group restated a “hold” rating and set a $24.00 price target on shares of Oceaneering International in a research report on Friday, July 27th. Wells Fargo & Co raised their price target on Oceaneering International from $24.00 to $25.00 and gave the stock a “hold” rating in a research report on Friday, July 27th. Finally, Credit Suisse Group raised their price target on Oceaneering International from $19.00 to $20.00 and gave the stock a “neutral” rating in a research report on Friday, July 27th. Thirteen analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $25.75.

Shares of OII traded down $0.08 during midday trading on Thursday, hitting $18.49. 826,840 shares of the stock were exchanged, compared to its average volume of 1,204,805. Oceaneering International has a 52-week low of $17.41 and a 52-week high of $28.62. The firm has a market cap of $1.87 billion, a P/E ratio of -264.14 and a beta of 1.66. The company has a quick ratio of 2.10, a current ratio of 2.50 and a debt-to-equity ratio of 0.52.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Strs Ohio raised its stake in shares of Oceaneering International by 330.0% in the third quarter. Strs Ohio now owns 4,300 shares of the oil and gas company’s stock valued at $118,000 after acquiring an additional 3,300 shares in the last quarter. Bessemer Group Inc. acquired a new stake in shares of Oceaneering International in the third quarter valued at $136,000. LPL Financial LLC acquired a new stake in shares of Oceaneering International in the first quarter valued at $186,000. Boys Arnold & Co. Inc. acquired a new stake in shares of Oceaneering International in the second quarter valued at $204,000. Finally, Meridian Management Co. acquired a new stake in shares of Oceaneering International in the second quarter valued at $204,000.

Oceaneering International Company Profile

Oceaneering International, Inc provides engineered services and products to the offshore oil and gas, defense, aerospace, and commercial theme park industries worldwide. The company's Remotely Operated Vehicles (ROVs) segment offers submersible vehicles for drill support, vessel-based inspection, maintenance and repair, installation and construction support, pipeline inspection and surveys, and subsea production facility operation and maintenance services.

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

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