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Oceaneering International (OII) Gains But Lags Market: What You Should Know
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Oceaneering International (OII - Free Report) closed at $21.54 in the latest trading session, marking a +0.89% move from the prior day. This change lagged the S&P 500's 1.15% gain on the day. Meanwhile, the Dow gained 1.11%, and the Nasdaq, a tech-heavy index, added 11.35%.
Coming into today, shares of the oilfield services company had gained 11.9% in the past month. In that same time, the Oils-Energy sector gained 3.79%, while the S&P 500 gained 4.49%.
Oceaneering International will be looking to display strength as it nears its next earnings release, which is expected to be February 23, 2023. On that day, Oceaneering International is projected to report earnings of $0.18 per share, which would represent year-over-year growth of 260%. Our most recent consensus estimate is calling for quarterly revenue of $537.26 million, up 15.12% from the year-ago period.
It is also important to note the 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 remained stagnant. Oceaneering International currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Oceaneering International is currently trading at a Forward P/E ratio of 26.04. Its industry sports an average Forward P/E of 13.61, 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 industry currently has a Zacks Industry Rank of 55, which puts it in the top 22% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Oceaneering International (OII) Gains But Lags Market: What You Should Know
Oceaneering International (OII - Free Report) closed at $21.54 in the latest trading session, marking a +0.89% move from the prior day. This change lagged the S&P 500's 1.15% gain on the day. Meanwhile, the Dow gained 1.11%, and the Nasdaq, a tech-heavy index, added 11.35%.
Coming into today, shares of the oilfield services company had gained 11.9% in the past month. In that same time, the Oils-Energy sector gained 3.79%, while the S&P 500 gained 4.49%.
Oceaneering International will be looking to display strength as it nears its next earnings release, which is expected to be February 23, 2023. On that day, Oceaneering International is projected to report earnings of $0.18 per share, which would represent year-over-year growth of 260%. Our most recent consensus estimate is calling for quarterly revenue of $537.26 million, up 15.12% from the year-ago period.
It is also important to note the 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 remained stagnant. Oceaneering International currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Oceaneering International is currently trading at a Forward P/E ratio of 26.04. Its industry sports an average Forward P/E of 13.61, 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 industry currently has a Zacks Industry Rank of 55, which puts it in the top 22% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.