Oceaneering International (OII) Sees a More Significant Dip Than Broader Market: Some Facts to Know
Oceaneering International (OII) closed the most recent trading day at $20.52, moving -0.24% from the previous trading session. This change lagged the S&P 500's 0.11% loss on the day. At the same time, the Dow added 0.12%, and the tech-heavy Nasdaq lost 0.41%.
Shares of the oilfield services company have depreciated by 0.29% over the course of the past month, underperforming the Oils-Energy sector's gain of 3.56% and the S&P 500's gain of 2.7%.
Market participants will be closely following the financial results of Oceaneering International in its upcoming release. The company is forecasted to report an EPS of $0.30, showcasing a 500% upward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $675.55 million, indicating a 25.8% growth compared to the corresponding quarter of the prior year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $1.52 per share and a revenue of $2.72 billion, signifying shifts of +90% and +12.24%, respectively, from the last year.
Investors might also notice recent changes to analyst estimates for Oceaneering International. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Right now, Oceaneering International possesses a Zacks Rank of #3 (Hold).
From a valuation perspective, Oceaneering International is currently exchanging hands at a Forward P/E ratio of 13.56. This represents a discount compared to its industry's average Forward P/E of 14.23.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 157, which puts it in the bottom 38% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Oceaneering International, Inc. (OII) : Free Stock Analysis Report
