Market Overview

Gabelli & Co Raises 2012 EPS Estimate to $2.55 on Oceaneering International


A report from Gabelli & Co reiterates its Hold rating and raises its 2012 EPS estimate from $2.45 to $2.55 on Oceaneering (NYSE: OII).

The report states, “Yesterday the company announced that it will acquire AGR Field Operations from AGR Group ASA (AGROSL) for $240 million including acquired debt… We view the acquisition as a positive use of cash and expect Oceaneering to expand AGR's technology and services into other regions including the Gulf of Mexico.”

OII closed yesterday at $43.25.

Posted-In: AGR Field Operations Gabelli & CompanyAnalyst Color M&A News Reiteration Analyst Ratings


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