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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 $22.11 in the latest trading session, marking a +1.52% move from the prior day. The stock lagged the S&P 500's daily gain of 1.62%. Meanwhile, the Dow gained 1.17%, and the Nasdaq, a tech-heavy index, added 12.91%.
Prior to today's trading, shares of the oilfield services company had gained 8.14% over the past month. This has outpaced the Oils-Energy sector's gain of 0.8% and the S&P 500's loss of 4.54% in that time.
Investors will be hoping for strength from Oceaneering International as it approaches its next earnings release. The company is expected to report EPS of $0.14, up 333.33% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $551.4 million, up 23.59% from the year-ago period.
Investors should also note any 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Oceaneering International is currently a Zacks Rank #4 (Sell).
Valuation is also important, so investors should note that Oceaneering International has a Forward P/E ratio of 26.56 right now. This valuation marks a premium compared to its industry's average Forward P/E of 15.16.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 93, putting it in the top 37% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
To follow OII in the coming trading sessions, be sure to utilize Zacks.com.
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Oceaneering International (OII) Gains But Lags Market: What You Should Know
Oceaneering International (OII - Free Report) closed at $22.11 in the latest trading session, marking a +1.52% move from the prior day. The stock lagged the S&P 500's daily gain of 1.62%. Meanwhile, the Dow gained 1.17%, and the Nasdaq, a tech-heavy index, added 12.91%.
Prior to today's trading, shares of the oilfield services company had gained 8.14% over the past month. This has outpaced the Oils-Energy sector's gain of 0.8% and the S&P 500's loss of 4.54% in that time.
Investors will be hoping for strength from Oceaneering International as it approaches its next earnings release. The company is expected to report EPS of $0.14, up 333.33% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $551.4 million, up 23.59% from the year-ago period.
Investors should also note any 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Oceaneering International is currently a Zacks Rank #4 (Sell).
Valuation is also important, so investors should note that Oceaneering International has a Forward P/E ratio of 26.56 right now. This valuation marks a premium compared to its industry's average Forward P/E of 15.16.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 93, putting it in the top 37% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
To follow OII in the coming trading sessions, be sure to utilize Zacks.com.