Ion Geophysical Corp (IO) Given Average Rating of “Hold” by Brokerages

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Shares of Ion Geophysical Corp (NYSE:IO) have been given a consensus rating of “Hold” by the six brokerages that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $35.00.

Separately, ValuEngine raised Ion Geophysical from a “sell” rating to a “hold” rating in a research report on Monday, April 1st.

A number of institutional investors have recently bought and sold shares of the stock. Northern Trust Corp boosted its holdings in shares of Ion Geophysical by 0.7% during the first quarter. Northern Trust Corp now owns 149,754 shares of the oil and gas company’s stock worth $2,163,000 after acquiring an additional 1,108 shares during the period. BNP Paribas Arbitrage SA boosted its holdings in shares of Ion Geophysical by 345.2% during the first quarter. BNP Paribas Arbitrage SA now owns 2,217 shares of the oil and gas company’s stock worth $32,000 after acquiring an additional 1,719 shares during the period. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Ion Geophysical by 11.0% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 45,496 shares of the oil and gas company’s stock worth $657,000 after acquiring an additional 4,500 shares during the period. Parametric Portfolio Associates LLC boosted its holdings in shares of Ion Geophysical by 29.8% during the first quarter. Parametric Portfolio Associates LLC now owns 22,834 shares of the oil and gas company’s stock worth $330,000 after acquiring an additional 5,238 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Ion Geophysical by 30.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 25,776 shares of the oil and gas company’s stock worth $373,000 after acquiring an additional 5,976 shares during the period. Institutional investors and hedge funds own 46.65% of the company’s stock.

Shares of NYSE IO traded down $0.15 during trading on Monday, reaching $8.24. The stock had a trading volume of 479,100 shares, compared to its average volume of 174,080. Ion Geophysical has a one year low of $4.53 and a one year high of $27.95. The company has a current ratio of 0.94, a quick ratio of 0.81 and a debt-to-equity ratio of 15.28. The company has a market capitalization of $115.23 million, a price-to-earnings ratio of -3.48 and a beta of 3.64.

Ion Geophysical (NYSE:IO) last issued its quarterly earnings results on Wednesday, May 1st. The oil and gas company reported ($1.52) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.77) by ($0.75). Ion Geophysical had a negative net margin of 40.39% and a negative return on equity of 256.52%. The firm had revenue of $36.96 million during the quarter, compared to the consensus estimate of $34.20 million. As a group, equities analysts predict that Ion Geophysical will post -1.74 earnings per share for the current year.

Ion Geophysical Company Profile

ION Geophysical Corporation, together with its subsidiaries, provides a suite of services and products for seismic data acquisition and processing the United States and internationally. The company operates in three segments: E&P Technology & Services, Operations Optimization, and Ocean Bottom Integrated Technologies.

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