Oceaneering International (OII) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Oceaneering International (OII) closed at $22.79, marking a -1.04% move from the previous day. This move lagged the S&P 500's daily loss of 0.16%. Elsewhere, the Dow lost 0.48%, while the tech-heavy Nasdaq added 0.11%.
Prior to today's trading, shares of the oilfield services company had gained 7.12% over the past month. This has outpaced the Oils-Energy sector's gain of 3.12% and the S&P 500's loss of 1.25% in that time.
Oceaneering International will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.25, up 8.7% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $638.09 million, up 14.01% from the prior-year quarter.
OII's full-year Zacks Consensus Estimates are calling for earnings of $0.86 per share and revenue of $2.37 billion. These results would represent year-over-year changes of +177.42% and +14.47%, respectively.
Investors should also note any recent changes to analyst estimates for Oceaneering International. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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 past month, the Zacks Consensus EPS estimate has moved 14.21% lower. Oceaneering International is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Oceaneering International's current valuation metrics, including its Forward P/E ratio of 26.94. For comparison, its industry has an average Forward P/E of 18.59, which means Oceaneering International is trading at a premium to the group.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 89, which puts it in the top 36% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Oceaneering International, Inc. (OII) : Free Stock Analysis Report
