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

Oceaneering International, Inc. (NYSE:OII - Free Report) - Equities research analysts at Zacks Research increased their FY2024 earnings estimates for shares of Oceaneering International in a report released on Thursday, November 7th. Zacks Research analyst N. Choudhury now forecasts that the oil and gas company will post earnings of $1.25 per share for the year, up from their prior estimate of $1.23. 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 $0.47 EPS, Q4 2025 earnings at $0.45 EPS, FY2025 earnings at $1.60 EPS, Q1 2026 earnings at $0.26 EPS, Q2 2026 earnings at $0.31 EPS and Q3 2026 earnings at $0.35 EPS.

Oceaneering International (NYSE:OII - Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The oil and gas company reported $0.36 EPS for the quarter, missing analysts' consensus estimates of $0.44 by ($0.08). Oceaneering International had a return on equity of 15.11% and a net margin of 5.22%. The company had revenue of $679.81 million during the quarter, compared to the consensus estimate of $693.69 million. During the same quarter in the prior year, the firm earned $0.38 earnings per share. The business's revenue was up 7.0% compared to the same quarter last year.

OII has been the topic of a number of other reports. Benchmark reiterated a "buy" rating and issued a $34.00 price target on shares of Oceaneering International in a report on Friday, October 25th. Barclays decreased their price objective on Oceaneering International from $24.00 to $22.00 and set an "underweight" rating on the stock in a research report on Thursday, October 31st.

Oceaneering International Stock Performance

Shares of NYSE:OII traded up $0.70 during mid-day trading on Monday, reaching $28.60. 745,907 shares of the company traded hands, compared to its average volume of 823,388. The firm has a market cap of $2.89 billion, a PE ratio of 21.14 and a beta of 2.35. Oceaneering International has a 52 week low of $18.67 and a 52 week high of $30.45. The company's 50 day moving average price is $25.12 and its 200-day moving average price is $24.72. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.76 and a quick ratio of 1.46.

Institutional Investors Weigh In On Oceaneering International

A number of large investors have recently modified their holdings of OII. Intech Investment Management LLC grew its stake in shares of Oceaneering International by 24.5% in the 3rd quarter. Intech Investment Management LLC now owns 27,084 shares of the oil and gas company's stock valued at $674,000 after buying an additional 5,332 shares during the period. Pathstone Holdings LLC lifted its stake in Oceaneering International by 18.2% during the third quarter. Pathstone Holdings LLC now owns 60,417 shares of the oil and gas company's stock worth $1,503,000 after purchasing an additional 9,316 shares in the last quarter. Chesapeake Capital Corp IL raised its holdings in shares of Oceaneering International by 29.0% in the 3rd quarter. Chesapeake Capital Corp IL now owns 13,057 shares of the oil and gas company's stock valued at $324,000 after buying an additional 2,933 shares during the period. Natixis Advisors LLC grew its position in Oceaneering International by 8.0% in the 3rd quarter. Natixis Advisors LLC now owns 36,045 shares of the oil and gas company's stock valued at $896,000 after acquiring an additional 2,657 shares in the last quarter. Finally, Empowered Funds LLC boosted its stake in shares of Oceaneering International by 5.3% in the third quarter. Empowered Funds LLC now owns 117,709 shares of the oil and gas company's stock valued at $2,927,000 after purchasing an additional 5,909 shares during the period. Hedge funds and other institutional investors own 93.93% of the company's stock.

Insiders Place Their Bets

In other news, Director Karen H. Beachy sold 3,300 shares of the stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $22.94, for a total value of $75,702.00. Following the sale, the director now owns 28,229 shares in the company, valued at $647,573.26. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director M Kevin Mcevoy sold 9,675 shares of the firm's stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $26.12, for a total transaction of $252,711.00. Following the sale, the director now directly owns 141,837 shares in the company, valued at $3,704,782.44. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Karen H. Beachy sold 3,300 shares of the firm's stock in a transaction that occurred on 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 sale, the director now directly owns 28,229 shares in the company, valued at approximately $647,573.26. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.30% of the stock is currently owned by insiders.

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.