Oceaneering International (NYSE:OII) Releases Quarterly Earnings Results, Misses Estimates By $0.09 EPS

Oceaneering International (NYSE:OII) issued its quarterly earnings results on Wednesday. The oil and gas company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.09), Briefing.com reports. Oceaneering International had a net margin of 4.87% and a return on equity of 16.08%. The business had revenue of $668.81 million during the quarter, compared to the consensus estimate of $656.87 million. During the same quarter in the previous year, the business posted $0.18 EPS. The company’s revenue for the quarter was up 11.9% on a year-over-year basis.

Oceaneering International Trading Up 3.2 %

OII traded up $0.93 during midday trading on Friday, hitting $29.88. 670,760 shares of the company were exchanged, compared to its average volume of 843,180. The firm has a market capitalization of $3.03 billion, a P/E ratio of 27.92 and a beta of 2.39. Oceaneering International has a 1-year low of $18.67 and a 1-year high of $29.92. The firm’s 50 day moving average price is $23.52 and its 200-day moving average price is $22.53. The company has a quick ratio of 1.45, a current ratio of 1.76 and a debt-to-equity ratio of 0.76.

Analyst Ratings Changes

OII has been the topic of a number of research reports. StockNews.com lowered Oceaneering International from a “buy” rating to a “hold” rating in a research report on Friday, April 26th. Barclays restated an “underweight” rating and set a $21.00 price objective (down previously from $22.00) on shares of Oceaneering International in a research report on Tuesday, May 14th. Citigroup boosted their price objective on Oceaneering International from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, July 3rd. Finally, Benchmark restated a “buy” rating and set a $34.00 price objective on shares of Oceaneering International in a research report on Thursday.

About Oceaneering International

Oceaneering International, Inc provides engineered services and products, and robotic solutions to the offshore energy, defense, aerospace, manufacturing, and entertainment industries worldwide. It operates through Subsea Robotics, Manufactured Products, Offshore Projects Group, Integrity Management & Digital Solutions, and Aerospace and Defense Technologies segments.