SunTrust Banks Weighs in on Oceaneering International’s FY2020 Earnings (OII)

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Oceaneering International (NYSE:OII) – Equities research analysts at SunTrust Banks issued their FY2020 earnings estimates for shares of Oceaneering International in a research note issued on Wednesday, November 7th. SunTrust Banks analyst K. Sill expects that the oil and gas company will earn $0.28 per share for the year. SunTrust Banks has a “Hold” rating and a $24.00 price target on the stock.

OII has been the subject of several other reports. Seaport Global Securities restated a “neutral” rating on shares of Oceaneering International in a report on Wednesday, August 29th. Zacks Investment Research downgraded shares of Oceaneering International from a “buy” rating to a “hold” rating in a report on Tuesday, July 31st. Wells Fargo & Co raised their target price on shares of Oceaneering International from $24.00 to $25.00 and gave the company a “hold” rating in a report on Friday, July 27th. Credit Suisse Group raised their target price on shares of Oceaneering International from $19.00 to $20.00 and gave the company a “neutral” rating in a report on Friday, July 27th. Finally, Jefferies Financial Group restated a “hold” rating and set a $24.00 target price on shares of Oceaneering International in a report on Friday, July 27th. Thirteen research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $25.75.

Shares of OII opened at $18.49 on Friday. The company has a quick ratio of 2.10, a current ratio of 2.50 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $1.87 billion, a PE ratio of -264.14 and a beta of 1.66. Oceaneering International has a 52-week low of $17.41 and a 52-week high of $28.62.

Oceaneering International (NYSE:OII) last announced its quarterly earnings results on Wednesday, October 24th. The oil and gas company reported ($0.14) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.16) by $0.02. The business had revenue of $519.30 million during the quarter, compared to the consensus estimate of $492.15 million. Oceaneering International had a net margin of 1.34% and a negative return on equity of 5.33%.

A number of large investors have recently bought and sold shares of the business. Trexquant Investment LP boosted its stake in shares of Oceaneering International by 45.2% during the 3rd quarter. Trexquant Investment LP now owns 28,268 shares of the oil and gas company’s stock worth $780,000 after purchasing an additional 8,794 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its stake in shares of Oceaneering International by 252.6% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 8,622 shares of the oil and gas company’s stock worth $244,000 after purchasing an additional 6,177 shares during the last quarter. American International Group Inc. boosted its stake in shares of Oceaneering International by 1.2% during the 3rd quarter. American International Group Inc. now owns 264,121 shares of the oil and gas company’s stock worth $7,290,000 after purchasing an additional 3,218 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Oceaneering International by 1.4% during the 3rd quarter. BlackRock Inc. now owns 11,351,967 shares of the oil and gas company’s stock worth $313,314,000 after purchasing an additional 153,287 shares during the last quarter. Finally, Granite Investment Partners LLC boosted its stake in shares of Oceaneering International by 4.3% during the 3rd quarter. Granite Investment Partners LLC now owns 649,827 shares of the oil and gas company’s stock worth $17,935,000 after purchasing an additional 27,053 shares during the last quarter.

Oceaneering International Company Profile

Oceaneering International, Inc provides engineered services and products to the offshore oil and gas, defense, aerospace, and commercial theme park industries worldwide. The company's Remotely Operated Vehicles (ROVs) segment offers submersible vehicles for drill support, vessel-based inspection, maintenance and repair, installation and construction support, pipeline inspection and surveys, and subsea production facility operation and maintenance services.

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Earnings History and Estimates for Oceaneering International (NYSE:OII)

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