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Oceaneering International (OII) Registers a Bigger Fall Than the Market: Important Facts to Note
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The latest trading session saw Oceaneering International (OII - Free Report) ending at $20.37, denoting a -1.31% adjustment from its last day's close. This move lagged the S&P 500's daily loss of 0.12%. On the other hand, the Dow registered a loss of 0.25%, and the technology-centric Nasdaq decreased by 0.41%.
Heading into today, shares of the oilfield services company had gained 2.38% over the past month, lagging the Oils-Energy sector's gain of 3.04% and the S&P 500's gain of 4.83% in that time.
The upcoming earnings release of Oceaneering International will be of great interest to investors. The company is predicted to post an EPS of $0.30, indicating a 500% growth compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $675.55 million, up 25.8% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $1.52 per share and revenue of $2.72 billion, which would represent changes of +90% and +12.24%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Oceaneering International. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Oceaneering International currently has a Zacks Rank of #2 (Buy).
In terms of valuation, Oceaneering International is presently being traded at a Forward P/E ratio of 13.61. For comparison, its industry has an average Forward P/E of 14.34, which means Oceaneering International is trading at a discount 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 177, which puts it in the bottom 30% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
View the Zacks #1 Rank List
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Oceaneering International (OII) Registers a Bigger Fall Than the Market: Important Facts to Note
The latest trading session saw Oceaneering International (OII - Free Report) ending at $20.37, denoting a -1.31% adjustment from its last day's close. This move lagged the S&P 500's daily loss of 0.12%. On the other hand, the Dow registered a loss of 0.25%, and the technology-centric Nasdaq decreased by 0.41%.
Heading into today, shares of the oilfield services company had gained 2.38% over the past month, lagging the Oils-Energy sector's gain of 3.04% and the S&P 500's gain of 4.83% in that time.
The upcoming earnings release of Oceaneering International will be of great interest to investors. The company is predicted to post an EPS of $0.30, indicating a 500% growth compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $675.55 million, up 25.8% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $1.52 per share and revenue of $2.72 billion, which would represent changes of +90% and +12.24%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Oceaneering International. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Oceaneering International currently has a Zacks Rank of #2 (Buy).
In terms of valuation, Oceaneering International is presently being traded at a Forward P/E ratio of 13.61. For comparison, its industry has an average Forward P/E of 14.34, which means Oceaneering International is trading at a discount 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 177, which puts it in the bottom 30% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.