Ion Geophysical Corp (IO) to Post Q2 2019 Earnings of ($0.72) Per Share, Oppenheimer Forecasts

Ion Geophysical Corp (NYSE:IO) – Oppenheimer lifted their Q2 2019 EPS estimates for Ion Geophysical in a research report issued on Wednesday, May 15th. Oppenheimer analyst C. Rusch now anticipates that the oil and gas company will earn ($0.72) per share for the quarter, up from their previous estimate of ($0.79). Oppenheimer also issued estimates for Ion Geophysical’s Q3 2019 earnings at ($0.39) EPS, FY2019 earnings at ($1.74) EPS and FY2020 earnings at ($0.93) EPS.

Ion Geophysical (NYSE:IO) last posted its quarterly earnings results on Wednesday, May 1st. The oil and gas company reported ($1.52) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.77) by ($0.75). The firm had revenue of $36.96 million during the quarter, compared to analyst estimates of $34.20 million. Ion Geophysical had a negative return on equity of 256.52% and a negative net margin of 40.39%.

Separately, ValuEngine upgraded Ion Geophysical from a “sell” rating to a “hold” rating in a research note on Monday, April 1st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $57.00.

NYSE:IO opened at $8.39 on Monday. The stock has a market capitalization of $118.05 million, a P/E ratio of -3.54 and a beta of 3.64. Ion Geophysical has a one year low of $4.53 and a one year high of $28.90. The company has a debt-to-equity ratio of 15.28, a current ratio of 0.94 and a quick ratio of 0.81.

A number of hedge funds have recently modified their holdings of IO. Bank of New York Mellon Corp boosted its stake in Ion Geophysical by 38.3% in the third quarter. Bank of New York Mellon Corp now owns 56,652 shares of the oil and gas company’s stock valued at $880,000 after acquiring an additional 15,700 shares during the period. Man Group plc acquired a new position in Ion Geophysical in the third quarter valued at approximately $301,000. Vanguard Group Inc. boosted its stake in Ion Geophysical by 8.0% in the third quarter. Vanguard Group Inc. now owns 526,320 shares of the oil and gas company’s stock valued at $8,184,000 after acquiring an additional 38,778 shares during the period. Vanguard Group Inc boosted its stake in Ion Geophysical by 8.0% in the third quarter. Vanguard Group Inc now owns 526,320 shares of the oil and gas company’s stock valued at $8,184,000 after acquiring an additional 38,778 shares during the period. Finally, NJ State Employees Deferred Compensation Plan boosted its stake in Ion Geophysical by 23.1% in the fourth quarter. NJ State Employees Deferred Compensation Plan now owns 48,000 shares of the oil and gas company’s stock valued at $249,000 after acquiring an additional 9,000 shares during the period. Institutional investors own 46.65% of the company’s stock.

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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