Oceaneering International (NYSE:OII) Releases Quarterly Earnings Results, Misses Estimates By $0.02 EPS

Oceaneering International (NYSE:OII) posted its quarterly earnings results on Wednesday. The oil and gas company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02), Zacks reports. The business had revenue of $713.45 million for the quarter, compared to analyst estimates of $681.60 million. Oceaneering International had a return on equity of 15.11% and a net margin of 5.22%.

Oceaneering International Stock Down 1.8 %

Shares of OII opened at $25.24 on Thursday. The company’s 50-day simple moving average is $25.79 and its 200-day simple moving average is $26.08. The stock has a market capitalization of $2.55 billion, a PE ratio of 19.12 and a beta of 2.38. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.46 and a current ratio of 1.76. Oceaneering International has a 1 year low of $19.68 and a 1 year high of $30.98.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on OII shares. Pickering Energy Partners lowered Oceaneering International from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 14th. Benchmark reiterated a “buy” rating and issued a $34.00 target price on shares of Oceaneering International in a report on Friday, October 25th. Barclays upgraded shares of Oceaneering International from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $22.00 to $26.00 in a report on Wednesday, December 18th. TD Cowen increased their price target on Oceaneering International from $26.00 to $27.00 and gave the stock a “hold” rating in a report on Wednesday, January 8th. Finally, Citigroup lowered shares of Oceaneering International from a “buy” rating to a “neutral” rating and set a $30.00 price objective on the stock. in a report on Friday, January 10th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $29.25.

Oceaneering International Company Profile

Oceaneering International, Inc provides engineered services and products, and robotic solutions to the offshore energy, defense, aerospace, manufacturing, and entertainment industries worldwide. It operates through Subsea Robotics, Manufactured Products, Offshore Projects Group, Integrity Management & Digital Solutions, and Aerospace and Defense Technologies segments.