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Oceaneering International (OII) Stock Moves -0.91%: What You Should Know
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Oceaneering International (OII - Free Report) closed at $20.74 in the latest trading session, marking a -0.91% move from the prior day. This change was narrower than the S&P 500's daily loss of 1.3%. At the same time, the Dow lost 0.77%, and the tech-heavy Nasdaq lost 5.51%.
Prior to today's trading, shares of the oilfield services company had gained 19.67% over the past month. This has outpaced the Oils-Energy sector's gain of 2.85% and the S&P 500's gain of 6.41% in that time.
Wall Street will be looking for positivity from Oceaneering International as it approaches its next earnings report date. This is expected to be February 23, 2023. The company is expected to report EPS of $0.17, up 240% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $537.26 million, up 15.12% from the year-ago period.
Investors should also note any recent changes 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 shows that these estimate changes are directly correlated with near-term stock prices. 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, 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. Within the past 30 days, our consensus EPS projection has moved 1.71% lower. Oceaneering International is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Oceaneering International is currently trading at a Forward P/E ratio of 25.52. For comparison, its industry has an average Forward P/E of 13.74, 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 60, which puts it in the top 24% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Oceaneering International (OII) Stock Moves -0.91%: What You Should Know
Oceaneering International (OII - Free Report) closed at $20.74 in the latest trading session, marking a -0.91% move from the prior day. This change was narrower than the S&P 500's daily loss of 1.3%. At the same time, the Dow lost 0.77%, and the tech-heavy Nasdaq lost 5.51%.
Prior to today's trading, shares of the oilfield services company had gained 19.67% over the past month. This has outpaced the Oils-Energy sector's gain of 2.85% and the S&P 500's gain of 6.41% in that time.
Wall Street will be looking for positivity from Oceaneering International as it approaches its next earnings report date. This is expected to be February 23, 2023. The company is expected to report EPS of $0.17, up 240% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $537.26 million, up 15.12% from the year-ago period.
Investors should also note any recent changes 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 shows that these estimate changes are directly correlated with near-term stock prices. 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, 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. Within the past 30 days, our consensus EPS projection has moved 1.71% lower. Oceaneering International is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Oceaneering International is currently trading at a Forward P/E ratio of 25.52. For comparison, its industry has an average Forward P/E of 13.74, 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 60, which puts it in the top 24% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.