Oceaneering International (OII) Gains But Lags Market: What You Should Know
Oceaneering International (OII) closed the most recent trading day at $25.09, moving +0.4% from the previous trading session. The stock lagged the S&P 500's daily gain of 0.84%. At the same time, the Dow added 0.96%, and the tech-heavy Nasdaq gained 0.81%.
Heading into today, shares of the oilfield services company had gained 17.05% over the past month, outpacing the Oils-Energy sector's gain of 2.52% and the S&P 500's gain of 0.19% in that time.
Oceaneering International will be looking to display strength as it nears its next earnings release. On that day, Oceaneering International is projected to report earnings of $0.26 per share, which would represent year-over-year growth of 13.04%. Meanwhile, our latest consensus estimate is calling for revenue of $638.09 million, up 14.01% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.87 per share and revenue of $2.37 billion, which would represent changes of +180.65% and +14.47%, respectively, from the prior year.
Any recent changes to analyst estimates for Oceaneering International should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 1.46% higher within the past month. Oceaneering International currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Oceaneering International is currently trading at a Forward P/E ratio of 28.81. This represents a premium compared to its industry's average Forward P/E of 19.84.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 57, which puts it in the top 23% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Oceaneering International, Inc. (OII) : Free Stock Analysis Report
