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Oceaneering International (OII) Stock Sinks As Market Gains: What You Should Know

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Oceaneering International (OII - Free Report) closed the most recent trading day at $16.19, moving -1.46% from the previous trading session. This change lagged the S&P 500's 0.56% gain on the day. Elsewhere, the Dow gained 0.41%, while the tech-heavy Nasdaq added 1.35%.

Coming into today, shares of the oilfield services company had lost 14.16% in the past month. In that same time, the Oils-Energy sector lost 8%, while the S&P 500 lost 1.48%.

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 $0.14 per share. This would mark year-over-year growth of 333.33%. Meanwhile, our latest consensus estimate is calling for revenue of $559.25 million, up 25.35% from the prior-year quarter.

OII's full-year Zacks Consensus Estimates are calling for earnings of $0.91 per share and revenue of $2.27 billion. These results would represent year-over-year changes of +193.55% and +10.05%, respectively.

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.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Within the past 30 days, our consensus EPS projection has moved 5.22% higher. Oceaneering International is currently a Zacks Rank #2 (Buy).

In terms of valuation, Oceaneering International is currently trading at a Forward P/E ratio of 18.1. For comparison, its industry has an average Forward P/E of 11.21, which means Oceaneering International is trading at a premium to the group.

The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 48, which puts it in the top 20% 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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