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Oceaneering International (OII) Flat As Market Sinks: What You Should Know
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Oceaneering International (OII - Free Report) closed the most recent trading day at $17.45, making no change from the previous trading session. This move was narrower than the S&P 500's daily loss of 0.25%. At the same time, the Dow added 0.24%, and the tech-heavy Nasdaq lost 1.88%.
Prior to today's trading, shares of the oilfield services company had lost 17.92% over the past month. This has lagged the Oils-Energy sector's loss of 3.35% and the S&P 500's gain of 1.48% in that time.
Investors will be hoping for strength from Oceaneering International as it approaches its next earnings release, which is expected to be April 26, 2023. On that day, Oceaneering International is projected to report earnings of $0.11 per share, which would represent year-over-year growth of 283.33%. Meanwhile, our latest consensus estimate is calling for revenue of $547.25 million, up 22.66% from the prior-year quarter.
OII's full-year Zacks Consensus Estimates are calling for earnings of $0.84 per share and revenue of $2.3 billion. These results would represent year-over-year changes of +170.97% and +11.51%, respectively.
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. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 4.65% lower. Oceaneering International is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Oceaneering International's current valuation metrics, including its Forward P/E ratio of 20.86. This represents a premium compared to its industry's average Forward P/E of 12.1.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 145, which puts it in the bottom 43% 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) Flat As Market Sinks: What You Should Know
Oceaneering International (OII - Free Report) closed the most recent trading day at $17.45, making no change from the previous trading session. This move was narrower than the S&P 500's daily loss of 0.25%. At the same time, the Dow added 0.24%, and the tech-heavy Nasdaq lost 1.88%.
Prior to today's trading, shares of the oilfield services company had lost 17.92% over the past month. This has lagged the Oils-Energy sector's loss of 3.35% and the S&P 500's gain of 1.48% in that time.
Investors will be hoping for strength from Oceaneering International as it approaches its next earnings release, which is expected to be April 26, 2023. On that day, Oceaneering International is projected to report earnings of $0.11 per share, which would represent year-over-year growth of 283.33%. Meanwhile, our latest consensus estimate is calling for revenue of $547.25 million, up 22.66% from the prior-year quarter.
OII's full-year Zacks Consensus Estimates are calling for earnings of $0.84 per share and revenue of $2.3 billion. These results would represent year-over-year changes of +170.97% and +11.51%, respectively.
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. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 4.65% lower. Oceaneering International is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Oceaneering International's current valuation metrics, including its Forward P/E ratio of 20.86. This represents a premium compared to its industry's average Forward P/E of 12.1.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 145, which puts it in the bottom 43% 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.