$0.87 Earnings Per Share Expected for Ion Geophysical Corp (IO) This Quarter

Equities research analysts expect Ion Geophysical Corp (NYSE:IO) to announce earnings per share of $0.87 for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Ion Geophysical’s earnings. Ion Geophysical posted earnings of $0.41 per share in the same quarter last year, which indicates a positive year over year growth rate of 112.2%. The firm is scheduled to report its next earnings results on Wednesday, November 7th.

On average, analysts expect that Ion Geophysical will report full year earnings of ($0.63) per share for the current year. For the next year, analysts anticipate that the business will report earnings of $0.92 per share. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that that provide coverage for Ion Geophysical.

Ion Geophysical (NYSE:IO) last issued its quarterly earnings results on Wednesday, August 1st. The oil and gas company reported ($1.68) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.23) by ($1.45). The firm had revenue of $24.74 million for the quarter, compared to the consensus estimate of $47.30 million. Ion Geophysical had a negative net margin of 22.99% and a negative return on equity of 79.01%.

Separately, Oppenheimer cut their price objective on shares of Ion Geophysical to $79.00 and set an “outperform” rating on the stock in a research report on Friday, August 3rd. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $57.00.

In related news, Director James M. Lapeyre, Jr. acquired 40,000 shares of the business’s stock in a transaction dated Wednesday, August 15th. The shares were bought at an average price of $15.88 per share, with a total value of $635,200.00. Following the transaction, the director now directly owns 172,773 shares of the company’s stock, valued at $2,743,635.24. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 15.20% of the stock is owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the company. Bank of Montreal Can bought a new position in Ion Geophysical in the 2nd quarter valued at about $109,000. Dynamic Technology Lab Private Ltd bought a new position in Ion Geophysical in the 1st quarter valued at about $207,000. New Jersey Better Educational Savings Trust bought a new position in Ion Geophysical in the 3rd quarter valued at about $249,000. Rhumbline Advisers bought a new position in Ion Geophysical in the 2nd quarter valued at about $256,000. Finally, Guggenheim Capital LLC bought a new position in Ion Geophysical in the 1st quarter valued at about $259,000. 55.85% of the stock is currently owned by institutional investors.

IO stock opened at $13.71 on Tuesday. The company has a quick ratio of 0.88, a current ratio of 1.04 and a debt-to-equity ratio of 3.45. Ion Geophysical has a 1 year low of $7.55 and a 1 year high of $32.45.

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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