Oceaneering International (OII) Ascends While Market Falls: Some Facts to Note
Oceaneering International (OII) closed the latest trading day at $19.17, indicating a +0.31% change from the previous session's end. The stock outperformed the S&P 500, which registered a daily loss of 0.07%.
The the stock of oilfield services company has fallen by 2.7% in the past month, lagging the Oils-Energy sector's gain of 0.36% and the S&P 500's gain of 3.98%.
The investment community will be closely monitoring the performance of Oceaneering International in its forthcoming earnings report. The company is predicted to post an EPS of $0.23, indicating a 283.33% growth compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $631.99 million, indicating a 17.86% increase compared to the same quarter of the previous year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Oceaneering International. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.66% increase. Right now, Oceaneering International possesses a Zacks Rank of #1 (Strong Buy).
Looking at its valuation, Oceaneering International is holding a Forward P/E ratio of 12.6. This signifies a discount in comparison to the average Forward P/E of 13.32 for its industry.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 202, which puts it in the bottom 20% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Oceaneering International, Inc. (OII) : Free Stock Analysis Report
