Brokerages Expect Ion Geophysical Corp (IO) to Post $0.87 EPS

Shares of Ion Geophysical Corp (NYSE:IO) have received an average broker rating score of 1.00 (Strong Buy) from the two brokers that provide coverage for the company, Zacks Investment Research reports. Two research analysts have rated the stock with a strong buy recommendation.

Brokers have set a twelve-month consensus price objective of $26.00 for the company and are expecting that the company will post $0.87 EPS for the current quarter, according to Zacks. Zacks has also given Ion Geophysical an industry rank of 202 out of 255 based on the ratings given to its competitors.

Separately, Oppenheimer lowered their target price on shares of Ion Geophysical to $79.00 and set an “outperform” rating on the stock in a report on Friday, August 3rd.

In other news, Director James M. Lapeyre, Jr. bought 40,000 shares of the stock in a transaction that occurred on Wednesday, August 15th. The shares were acquired at an average cost of $15.88 per share, for a total transaction of $635,200.00. Following the completion of the acquisition, the director now owns 172,773 shares in the company, valued at $2,743,635.24. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 15.20% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. Bank of Montreal Can acquired a new position in Ion Geophysical during the second quarter worth $109,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Ion Geophysical in the first quarter valued at $207,000. Guggenheim Capital LLC acquired a new position in shares of Ion Geophysical in the first quarter valued at $259,000. Rhumbline Advisers acquired a new position in shares of Ion Geophysical in the second quarter valued at $256,000. Finally, A.R.T. Advisors LLC acquired a new position in shares of Ion Geophysical in the first quarter valued at $377,000. Institutional investors and hedge funds own 56.08% of the company’s stock.

NYSE IO opened at $11.74 on Friday. The company has a debt-to-equity ratio of 3.45, a quick ratio of 0.88 and a current ratio of 1.04. Ion Geophysical has a 12-month low of $7.55 and a 12-month high of $32.45. The company has a market capitalization of $164.40 million, a PE ratio of -7.29 and a beta of 2.57.

Ion Geophysical (NYSE:IO) last posted its quarterly earnings data on Wednesday, August 1st. The oil and gas company reported ($1.68) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.23) by ($1.45). Ion Geophysical had a negative net margin of 22.99% and a negative return on equity of 79.01%. The business had revenue of $24.74 million during the quarter, compared to analyst estimates of $47.30 million. On average, analysts predict that Ion Geophysical will post -0.63 EPS for the current fiscal year.

Ion Geophysical Company Profile

ION Geophysical Corporation provides geoscience products, services, and solutions to the oil and gas industry worldwide. It operates through three segments: E&P Technology & Services, E&P Operations Optimization, and Ocean Bottom Services. The E&P Technology & Services segment offers complete seismic data services, including survey design and planning, data acquisition, project management, advanced processing, and imaging services, as well as reservoir characterization and interpretation services.

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