Wall Street brokerages forecast that Oil States International, Inc. (NYSE:OIS) will announce $242.76 million in sales for the current quarter, Zacks Investment Research reports. Seven analysts have made estimates for Oil States International’s earnings, with the lowest sales estimate coming in at $234.12 million and the highest estimate coming in at $246.71 million. Oil States International posted sales of $253.58 million during the same quarter last year, which suggests a negative year over year growth rate of 4.3%. The firm is expected to report its next earnings results on Wednesday, April 24th.
On average, analysts expect that Oil States International will report full-year sales of $1.08 billion for the current financial year, with estimates ranging from $1.04 billion to $1.12 billion. For the next financial year, analysts expect that the business will report sales of $1.28 billion, with estimates ranging from $1.06 billion to $1.42 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Oil States International.
Oil States International (NYSE:OIS) last announced its earnings results on Wednesday, February 13th. The oil and gas company reported ($0.19) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.13) by ($0.06). Oil States International had a negative return on equity of 0.58% and a negative net margin of 1.76%. The company had revenue of $274.12 million during the quarter, compared to the consensus estimate of $260.00 million. During the same period in the prior year, the firm posted ($0.18) earnings per share. The company’s revenue was up 49.2% on a year-over-year basis.
A number of equities research analysts recently weighed in on OIS shares. Zacks Investment Research raised shares of Oil States International from a “sell” rating to a “hold” rating in a research note on Wednesday, December 19th. ValuEngine downgraded shares of Oil States International from a “hold” rating to a “sell” rating in a research note on Thursday, December 20th. Royal Bank of Canada set a $44.00 price target on shares of Oil States International and gave the stock a “hold” rating in a research note on Thursday, December 20th. Raymond James raised shares of Oil States International from an “outperform” rating to a “strong-buy” rating and boosted their price target for the stock from $26.00 to $27.00 in a research note on Wednesday, March 27th. They noted that the move was a valuation call. Finally, Wells Fargo & Co raised shares of Oil States International from a “market perform” rating to an “outperform” rating and set a $16.21 price target for the company in a research note on Friday, March 29th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $32.20.
Shares of NYSE OIS opened at $17.75 on Tuesday. Oil States International has a 1-year low of $13.20 and a 1-year high of $38.95. The stock has a market capitalization of $1.09 billion, a price-to-earnings ratio of -147.92 and a beta of 2.32. The company has a quick ratio of 1.79, a current ratio of 2.95 and a debt-to-equity ratio of 0.21.
In related news, VP Philip Scott Moses sold 6,583 shares of the business’s stock in a transaction that occurred on Tuesday, February 19th. The shares were sold at an average price of $18.51, for a total transaction of $121,851.33. Following the completion of the sale, the vice president now directly owns 124,432 shares of the company’s stock, valued at $2,303,236.32. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 2.20% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Eagle Asset Management Inc. grew its holdings in Oil States International by 0.4% during the fourth quarter. Eagle Asset Management Inc. now owns 285,222 shares of the oil and gas company’s stock valued at $4,072,000 after purchasing an additional 1,183 shares during the period. Neuburgh Advisers LLC grew its holdings in Oil States International by 50.3% during the fourth quarter. Neuburgh Advisers LLC now owns 7,840 shares of the oil and gas company’s stock valued at $112,000 after purchasing an additional 2,624 shares during the period. Lindbrook Capital LLC acquired a new position in Oil States International during the fourth quarter valued at approximately $44,000. Arizona State Retirement System grew its holdings in Oil States International by 6.1% during the fourth quarter. Arizona State Retirement System now owns 92,367 shares of the oil and gas company’s stock valued at $1,319,000 after purchasing an additional 5,351 shares during the period. Finally, Teachers Advisors LLC grew its holdings in Oil States International by 7.7% during the third quarter. Teachers Advisors LLC now owns 123,237 shares of the oil and gas company’s stock valued at $4,091,000 after purchasing an additional 8,780 shares during the period.
About Oil States International
Oil States International, Inc, through its subsidiaries, provides oilfield products and services for the drilling, completion, subsea, production, and infrastructure sectors of the oil and gas industry worldwide. The company operates through three segments: Well Site Services, Downhole Technologies, and Offshore/Manufactured Products.
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