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.
(We are reissuing this article to correct a mistake. The original article, issued on June 12, should no longer be relied upon.)