What is Zacks Research’s Estimate for OII FY2024 Earnings?

Oceaneering International, Inc. (NYSE:OII) – Zacks Research raised their FY2024 earnings per share estimates for Oceaneering International in a research note issued on Tuesday, December 3rd. Zacks Research analyst N. Choudhury now expects that the oil and gas company will post earnings per share of $1.26 for the year, up from their prior estimate of $1.25. The consensus estimate for Oceaneering International’s current full-year earnings is $1.39 per share. Zacks Research also issued estimates for Oceaneering International’s Q4 2024 earnings at $0.48 EPS, Q4 2025 earnings at $0.49 EPS, FY2025 earnings at $1.63 EPS and Q2 2026 earnings at $0.30 EPS.

A number of other equities research analysts have also issued reports on the stock. Barclays decreased their target price on shares of Oceaneering International from $24.00 to $22.00 and set an “underweight” rating for the company in a research note on Thursday, October 31st. Benchmark reissued a “buy” rating and set a $34.00 target price on shares of Oceaneering International in a research report on Friday, October 25th.

Oceaneering International Trading Down 1.3 %

NYSE OII opened at $28.37 on Thursday. Oceaneering International has a twelve month low of $18.67 and a twelve month high of $30.98. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.46 and a current ratio of 1.76. The stock has a market cap of $2.87 billion, a price-to-earnings ratio of 21.76 and a beta of 2.39. The firm’s 50 day moving average price is $26.63 and its two-hundred day moving average price is $25.39.

Oceaneering International (NYSE:OII) last announced its earnings results on Wednesday, October 23rd. The oil and gas company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.08). The firm had revenue of $679.81 million for the quarter, compared to the consensus estimate of $693.69 million. Oceaneering International had a return on equity of 15.11% and a net margin of 5.22%. Oceaneering International’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.38 EPS.

Insiders Place Their Bets

In other Oceaneering International news, Director Karen H. Beachy sold 3,300 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $22.94, for a total value of $75,702.00. Following the completion of the transaction, the director now directly owns 28,229 shares of the company’s stock, valued at approximately $647,573.26. The trade was a 10.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.30% of the company’s stock.

Institutional Investors Weigh In On Oceaneering International

Several institutional investors have recently modified their holdings of OII. Congress Asset Management Co. acquired a new stake in shares of Oceaneering International during the 3rd quarter worth approximately $38,819,000. Earnest Partners LLC grew its position in shares of Oceaneering International by 21.0% during the 2nd quarter. Earnest Partners LLC now owns 6,365,214 shares of the oil and gas company’s stock worth $150,601,000 after buying an additional 1,105,263 shares during the period. Victory Capital Management Inc. grew its position in shares of Oceaneering International by 101.6% during the 2nd quarter. Victory Capital Management Inc. now owns 550,077 shares of the oil and gas company’s stock worth $13,015,000 after buying an additional 277,247 shares during the period. Beacon Harbor Wealth Advisors Inc. acquired a new position in Oceaneering International during the third quarter valued at approximately $6,106,000. Finally, American Century Companies Inc. grew its holdings in Oceaneering International by 13.4% during the second quarter. American Century Companies Inc. now owns 2,022,378 shares of the oil and gas company’s stock valued at $47,849,000 after purchasing an additional 239,701 shares during the period. Institutional investors and hedge funds own 93.93% of the company’s stock.

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.