2024-06-07 08:40:08 ET
Summary
- Oceaneering International aims to maintain stability in ROV utilization and vessel-based activities, with new contracts and pricing improvements in the ROV business.
- OII faces challenges in operating margin pressure in the Entertainment Systems and OMR businesses, as well as cash flow concerns.
- The stock is reasonably valued compared to peers, and I recommend a "hold" rating with expectations of higher medium-term gains.
Analyzing OII's Drivers
I discussed Oceaneering International ( OII ) in the past, and you can read the latest article here , published on August 1, 2023. OII will look to maintain its stability in ROV utilization and vessel-based activities. The company started working on new contracts and saw pricing improvement in the ROV (Remotely Operated Vehicles) business. Increased order intake yielded improved operating margins in the energy business....
Read the full article on Seeking Alpha
For further details see:
Oceaneering International: Steady Offshore Activity But Short-Term Concerns Remain