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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 at $22.28 in the latest trading session, marking a -0.71% move from the prior day. This change lagged the S&P 500's daily gain of 0.74%. Meanwhile, the Dow gained 0.25%, and the Nasdaq, a tech-heavy index, added 11.47%.
Heading into today, shares of the oilfield services company had gained 27% over the past month, outpacing the Oils-Energy sector's gain of 1% and the S&P 500's gain of 3.34% in that time.
Investors will be hoping for strength from Oceaneering International as it approaches its next earnings release, which is expected to be July 26, 2023. In that report, analysts expect Oceaneering International to post earnings of $0.30 per share. This would mark year-over-year growth of 328.57%. Our most recent consensus estimate is calling for quarterly revenue of $601.86 million, up 14.85% from the year-ago period.
OII's full-year Zacks Consensus Estimates are calling for earnings of $1.12 per share and revenue of $2.31 billion. These results would represent year-over-year changes of +261.29% and +11.57%, respectively.
It is also important to note the 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 has moved 17.07% higher within the past month. Oceaneering International currently has a Zacks Rank of #1 (Strong Buy).
Investors should also note Oceaneering International's current valuation metrics, including its Forward P/E ratio of 20.04. Its industry sports an average Forward P/E of 17.04, 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 group has a Zacks Industry Rank of 237, putting it in the bottom 6% 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.
To follow OII in the coming trading sessions, be sure to utilize Zacks.com.
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Oceaneering International (OII) Stock Sinks As Market Gains: What You Should Know
Oceaneering International (OII - Free Report) closed at $22.28 in the latest trading session, marking a -0.71% move from the prior day. This change lagged the S&P 500's daily gain of 0.74%. Meanwhile, the Dow gained 0.25%, and the Nasdaq, a tech-heavy index, added 11.47%.
Heading into today, shares of the oilfield services company had gained 27% over the past month, outpacing the Oils-Energy sector's gain of 1% and the S&P 500's gain of 3.34% in that time.
Investors will be hoping for strength from Oceaneering International as it approaches its next earnings release, which is expected to be July 26, 2023. In that report, analysts expect Oceaneering International to post earnings of $0.30 per share. This would mark year-over-year growth of 328.57%. Our most recent consensus estimate is calling for quarterly revenue of $601.86 million, up 14.85% from the year-ago period.
OII's full-year Zacks Consensus Estimates are calling for earnings of $1.12 per share and revenue of $2.31 billion. These results would represent year-over-year changes of +261.29% and +11.57%, respectively.
It is also important to note the 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 has moved 17.07% higher within the past month. Oceaneering International currently has a Zacks Rank of #1 (Strong Buy).
Investors should also note Oceaneering International's current valuation metrics, including its Forward P/E ratio of 20.04. Its industry sports an average Forward P/E of 17.04, 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 group has a Zacks Industry Rank of 237, putting it in the bottom 6% 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.
To follow OII in the coming trading sessions, be sure to utilize Zacks.com.