Shares of ION Geophysical (NYSE:IO) have been assigned a consensus broker rating score of 1.00 (Strong Buy) from the two analysts that cover the company, Zacks Investment Research reports. Two investment analysts have rated the stock with a strong buy rating.
Analysts have set a twelve-month consensus price target of $35.00 for the company and are predicting that the company will post ($0.09) EPS for the current quarter, according to Zacks. Zacks has also given ION Geophysical an industry rank of 193 out of 265 based on the ratings given to related companies.
A number of analysts have recently weighed in on the stock. ValuEngine upgraded shares of ION Geophysical from a “sell” rating to a “hold” rating in a research note on Friday, April 6th. CIBC assumed coverage on shares of ION Geophysical in a research note on Thursday, March 29th. They issued an “outperform” rating for the company. Oppenheimer assumed coverage on shares of ION Geophysical in a research note on Thursday, March 29th. They issued an “outperform” rating and a $35.00 price objective for the company. Finally, Evercore ISI upgraded shares of ION Geophysical from an “in-line” rating to an “outperform” rating in a research note on Friday, February 9th.
Shares of ION Geophysical stock traded down $0.45 on Thursday, reaching $27.35. The stock had a trading volume of 188,957 shares, compared to its average volume of 234,167. The company has a debt-to-equity ratio of 3.79, a quick ratio of 0.83 and a current ratio of 0.94. ION Geophysical has a fifty-two week low of $3.20 and a fifty-two week high of $32.45.
ION Geophysical (NYSE:IO) last issued its quarterly earnings data on Wednesday, May 2nd. The oil and gas company reported ($1.34) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.22) by ($1.12). ION Geophysical had a negative return on equity of 63.87% and a negative net margin of 12.76%. The firm had revenue of $33.51 million during the quarter, compared to analyst estimates of $37.90 million. During the same quarter in the previous year, the firm posted $0.14 earnings per share. equities research analysts anticipate that ION Geophysical will post 0.11 earnings per share for the current fiscal year.
Large investors have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN raised its stake in ION Geophysical by 14.1% during the 3rd quarter. Wells Fargo & Company MN now owns 79,995 shares of the oil and gas company’s stock valued at $761,000 after purchasing an additional 9,900 shares during the last quarter. Spark Investment Management LLC raised its stake in ION Geophysical by 21.7% during the 4th quarter. Spark Investment Management LLC now owns 60,100 shares of the oil and gas company’s stock valued at $1,186,000 after purchasing an additional 10,700 shares during the last quarter. JPMorgan Chase & Co. raised its stake in ION Geophysical by 24.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 118,559 shares of the oil and gas company’s stock valued at $1,114,000 after purchasing an additional 22,913 shares during the last quarter. Alambic Investment Management L.P. acquired a new position in ION Geophysical during the 4th quarter valued at $622,000. Finally, Two Sigma Investments LP acquired a new position in ION Geophysical during the 4th quarter valued at $1,144,000. Hedge funds and other institutional investors own 32.30% of the company’s stock.
About ION Geophysical
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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