Shares of Ion Geophysical Corp (NYSE:IO) have earned an average recommendation of “Hold” from the six analysts that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $35.00.
IO has been the topic of a number of analyst reports. UBS Group cut shares of Ion Geophysical from an “outperform” rating to a “market perform” rating in a research note on Thursday, November 1st. Oppenheimer restated a “market perform” rating on shares of Ion Geophysical in a research report on Friday, November 2nd. ValuEngine downgraded Ion Geophysical from a “hold” rating to a “sell” rating in a research report on Tuesday, November 6th. CIBC restated a “market perform” rating on shares of Ion Geophysical in a research report on Friday, November 2nd. Finally, Zacks Investment Research upgraded Ion Geophysical from a “strong sell” rating to a “hold” rating in a research report on Wednesday, January 2nd.
Get Ion Geophysical alerts:Shares of IO traded up $0.52 during mid-day trading on Friday, reaching $12.54. The stock had a trading volume of 134,133 shares, compared to its average volume of 183,942. The firm has a market cap of $175.76 million, a P/E ratio of -5.29 and a beta of 3.74. Ion Geophysical has a 12 month low of $4.53 and a 12 month high of $30.90. The company has a debt-to-equity ratio of 15.28, a current ratio of 1.19 and a quick ratio of 1.06.
Ion Geophysical (NYSE:IO) last released its earnings results on Wednesday, February 6th. The oil and gas company reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.27. Ion Geophysical had a negative net margin of 39.53% and a negative return on equity of 99.92%. The company had revenue of $74.59 million for the quarter, compared to analysts’ expectations of $65.40 million. Equities analysts anticipate that Ion Geophysical will post -0.99 earnings per share for the current year.
In related news, Director James M. Lapeyre, Jr. bought 20,000 shares of the stock in a transaction dated Thursday, December 6th. The shares were purchased at an average price of $7.61 per share, with a total value of $152,200.00. Following the completion of the acquisition, the director now owns 202,773 shares of the company’s stock, valued at $1,543,102.53. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 13.80% of the stock is currently owned by insiders.
Hedge funds have recently made changes to their positions in the business. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Ion Geophysical during the third quarter valued at $184,000. Rhumbline Advisers purchased a new stake in Ion Geophysical during the fourth quarter valued at $75,000. New Jersey Better Educational Savings Trust purchased a new stake in Ion Geophysical during the third quarter valued at $249,000. Man Group plc purchased a new stake in Ion Geophysical during the third quarter valued at $301,000. Finally, Schwab Charles Investment Management Inc. purchased a new stake in Ion Geophysical during the second quarter valued at $549,000. Institutional investors and hedge funds own 50.61% 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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