Oceaneering International (OII) Falls More Steeply Than Broader Market: What Investors Need to Know
Oceaneering International (OII) closed the latest trading day at $20.21, indicating a -1.99% change from the previous session's end. The stock's change was less than the S&P 500's daily loss of 0.34%. On the other hand, the Dow registered a gain of 0.03%, and the technology-centric Nasdaq decreased by 0.56%.
Coming into today, shares of the oilfield services company had gained 7.51% in the past month. In that same time, the Oils-Energy sector gained 2.1%, while the S&P 500 gained 2.56%.
Analysts and investors alike will be keeping a close eye on the performance of Oceaneering International in its upcoming earnings disclosure. The company is expected to report EPS of $0.22, up 266.67% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $632.09 million, up 17.88% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Oceaneering International. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, 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. The Zacks Consensus EPS estimate has moved 0.89% higher within the past month. Oceaneering International presently features a Zacks Rank of #1 (Strong Buy).
In the context of valuation, Oceaneering International is at present trading with a Forward P/E ratio of 13.63. This signifies a discount in comparison to the average Forward P/E of 13.8 for its industry.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 181, placing it within the bottom 29% 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Oceaneering International, Inc. (OII) : Free Stock Analysis Report
