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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 the most recent trading day at $18.42, moving +1.26% from the previous trading session. The stock lagged the S&P 500's daily gain of 1.29%. Meanwhile, the Dow gained 0.8%, and the Nasdaq, a tech-heavy index, added 10.96%.
Coming into today, shares of the oilfield services company had gained 22.66% in the past month. In that same time, the Oils-Energy sector gained 4.41%, while the S&P 500 lost 0.23%.
Investors will be hoping for strength from Oceaneering International as it approaches its next earnings release. In that report, analysts expect Oceaneering International to post earnings of $0.17 per share. This would mark year-over-year growth of 240%. Our most recent consensus estimate is calling for quarterly revenue of $537.26 million, up 15.12% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Oceaneering International. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 1.71% lower. Oceaneering International is currently a Zacks Rank #3 (Hold).
In terms of valuation, Oceaneering International is currently trading at a Forward P/E ratio of 22.18. This represents a premium compared to its industry's average Forward P/E of 13.26.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 38, which puts it in the top 16% 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
Oceaneering International (OII - Free Report) closed the most recent trading day at $18.42, moving +1.26% from the previous trading session. The stock lagged the S&P 500's daily gain of 1.29%. Meanwhile, the Dow gained 0.8%, and the Nasdaq, a tech-heavy index, added 10.96%.
Coming into today, shares of the oilfield services company had gained 22.66% in the past month. In that same time, the Oils-Energy sector gained 4.41%, while the S&P 500 lost 0.23%.
Investors will be hoping for strength from Oceaneering International as it approaches its next earnings release. In that report, analysts expect Oceaneering International to post earnings of $0.17 per share. This would mark year-over-year growth of 240%. Our most recent consensus estimate is calling for quarterly revenue of $537.26 million, up 15.12% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Oceaneering International. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 1.71% lower. Oceaneering International is currently a Zacks Rank #3 (Hold).
In terms of valuation, Oceaneering International is currently trading at a Forward P/E ratio of 22.18. This represents a premium compared to its industry's average Forward P/E of 13.26.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 38, which puts it in the top 16% 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.