Oceaneering International (OII) Dips More Than Broader Market: What You Should Know
Oceaneering International (OII) closed the most recent trading day at $21.28, moving -1.57% from the previous trading session. This move lagged the S&P 500's daily loss of 0.28%. At the same time, the Dow lost 0.06%, and the tech-heavy Nasdaq lost 0.56%.
The oilfield services company's stock has climbed by 4.65% in the past month, exceeding the Oils-Energy sector's gain of 0.78% and lagging the S&P 500's gain of 5.24%.
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 $0.22, indicating a 266.67% growth compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $632.3 million, indicating a 17.92% increase compared to the same quarter of the previous year.
OII's full-year Zacks Consensus Estimates are calling for earnings of $0.86 per share and revenue of $2.4 billion. These results would represent year-over-year changes of +177.42% and +16.27%, respectively.
Investors should also take note of any recent adjustments to analyst estimates for Oceaneering International. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Currently, Oceaneering International is carrying a Zacks Rank of #3 (Hold).
From a valuation perspective, Oceaneering International is currently exchanging hands at a Forward P/E ratio of 25.14. This indicates a premium in contrast to its industry's Forward P/E of 17.61.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 194, placing it within the bottom 24% of over 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Oceaneering International, Inc. (OII) : Free Stock Analysis Report
