Oil States International Inc. (OIS) has seen negative earnings estimate revisions for the current quarter and the current year. OIS also carries a Zacks Rank #5 (Strong Sell).
For the full year, we have seen 4 estimates moving down in the past 30 days, compared with no upward revision. Also, for the current quarter, Oil States International has seen 4 downward estimate revisions versus no revision in the opposite direction over the past 30 days.
OIS stock prices moved from $107.58 on May 30 to $61.61 on Jun 2. This price change is a direct result of the spin-off of the Accommodations business segment, Civeo Corporation, into a separately traded public company effective as of May 30, 2014. Civeo Corporation (CVEO) began regular way trading on the NYSE on June 2, 2014, as did OIS.
However, the adjusted closing price on May 30 was $61.47 and on Jun 2 was $61.61. OIS closed at $63.72 on Jun 17, 2014.
If you are still interested in the Oil Field Machinery & Equipment sector, you may consider some better-ranked stocks including Matrix Service Company (MTRX), Cameron International Corporation (CAM) and Weatherford International Ltd. (WFT). While Matrix Service carries a Zacks Rank #1 (Strong Buy), Cameron International and Weatherford International carry a Zacks Rank #2 (Buy) and may be better selections at this time.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
(We are reissuing this article to correct a mistake. The original article, issued on June 12, should no longer be relied upon.)
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
To read this article on Zacks.com click here.
Get all Zacks Research Reports and be alerted to fast-breaking buy and sell opportunities every trading day.
Be the first to comment