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Oceaneering International (OII) Gains As Market Dips: What You Should Know
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The most recent trading session ended with Oceaneering International (OII - Free Report) standing at $23.45, reflecting a +0.21% shift from the previouse trading day's closing. This move outpaced the S&P 500's daily loss of 0.2%. Elsewhere, the Dow saw a downswing of 0.6%, while the tech-heavy Nasdaq appreciated by 0.11%.
Heading into today, shares of the oilfield services company had gained 13.37% over the past month, outpacing the Oils-Energy sector's gain of 7.33% and the S&P 500's gain of 3.32% in that time.
The upcoming earnings release of Oceaneering International will be of great interest to investors. The company's earnings report is expected on April 24, 2024. It is anticipated that the company will report an EPS of $0.30, marking a 500% rise compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $635.06 million, indicating a 18.26% upward movement from the same quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $1.54 per share and a revenue of $2.65 billion, indicating changes of +92.5% and +9.22%, respectively, from the former year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Oceaneering International. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 1.21% increase. Currently, Oceaneering International is carrying a Zacks Rank of #3 (Hold).
Looking at valuation, Oceaneering International is presently trading at a Forward P/E ratio of 15.24. This indicates a discount in contrast to its industry's Forward P/E of 16.78.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 176, placing it within the bottom 31% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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.
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Oceaneering International (OII) Gains As Market Dips: What You Should Know
The most recent trading session ended with Oceaneering International (OII - Free Report) standing at $23.45, reflecting a +0.21% shift from the previouse trading day's closing. This move outpaced the S&P 500's daily loss of 0.2%. Elsewhere, the Dow saw a downswing of 0.6%, while the tech-heavy Nasdaq appreciated by 0.11%.
Heading into today, shares of the oilfield services company had gained 13.37% over the past month, outpacing the Oils-Energy sector's gain of 7.33% and the S&P 500's gain of 3.32% in that time.
The upcoming earnings release of Oceaneering International will be of great interest to investors. The company's earnings report is expected on April 24, 2024. It is anticipated that the company will report an EPS of $0.30, marking a 500% rise compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $635.06 million, indicating a 18.26% upward movement from the same quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $1.54 per share and a revenue of $2.65 billion, indicating changes of +92.5% and +9.22%, respectively, from the former year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Oceaneering International. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 1.21% increase. Currently, Oceaneering International is carrying a Zacks Rank of #3 (Hold).
Looking at valuation, Oceaneering International is presently trading at a Forward P/E ratio of 15.24. This indicates a discount in contrast to its industry's Forward P/E of 16.78.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 176, placing it within the bottom 31% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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.