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Oceaneering International (OII) Gains But Lags Market: What You Should Know
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In the latest trading session, Oceaneering International (OII - Free Report) closed at $18.09, marking a +1.4% move from the previous day. The stock lagged the S&P 500's daily gain of 1.68%. At the same time, the Dow added 1.06%, and the tech-heavy Nasdaq lost 1.7%.
Heading into today, shares of the oilfield services company had lost 17.18% over the past month, lagging the Oils-Energy sector's loss of 8.65% and the S&P 500's loss of 6.68% in that time.
Oceaneering International will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.15, up 350% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $551.4 million, up 23.59% from the prior-year quarter.
Any recent changes to analyst estimates for Oceaneering International should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, 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 moved 14.01% higher. Oceaneering International currently has a Zacks Rank of #2 (Buy).
Digging into valuation, Oceaneering International currently has a Forward P/E ratio of 18.14. Its industry sports an average Forward P/E of 13.35, so we one might conclude that Oceaneering International is trading at a premium comparatively.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 53, putting it in the top 22% of all 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.
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) Gains But Lags Market: What You Should Know
In the latest trading session, Oceaneering International (OII - Free Report) closed at $18.09, marking a +1.4% move from the previous day. The stock lagged the S&P 500's daily gain of 1.68%. At the same time, the Dow added 1.06%, and the tech-heavy Nasdaq lost 1.7%.
Heading into today, shares of the oilfield services company had lost 17.18% over the past month, lagging the Oils-Energy sector's loss of 8.65% and the S&P 500's loss of 6.68% in that time.
Oceaneering International will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.15, up 350% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $551.4 million, up 23.59% from the prior-year quarter.
Any recent changes to analyst estimates for Oceaneering International should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, 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 moved 14.01% higher. Oceaneering International currently has a Zacks Rank of #2 (Buy).
Digging into valuation, Oceaneering International currently has a Forward P/E ratio of 18.14. Its industry sports an average Forward P/E of 13.35, so we one might conclude that Oceaneering International is trading at a premium comparatively.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 53, putting it in the top 22% of all 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.