Ion Geophysical (IO) Releases Quarterly Earnings Results, Beats Expectations By $0.43 EPS

Ion Geophysical (NYSE:IO) issued its quarterly earnings data on Wednesday. The oil and gas company reported $0.38 earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.43, Yahoo Finance reports. Ion Geophysical had a negative net margin of 20.19% and a negative return on equity of 102.40%.

Shares of Ion Geophysical (NYSE:IO) traded up $5.10 during trading on Friday, hitting $28.15. 301,268 shares of the stock were exchanged, compared to its average volume of 206,832. The firm has a market cap of $237.92, a PE ratio of -9.38 and a beta of 3.62. Ion Geophysical has a fifty-two week low of $3.20 and a fifty-two week high of $28.55. The company has a quick ratio of 0.78, a current ratio of 0.89 and a debt-to-equity ratio of 3.88.

In other news, CEO R Brian Hanson acquired 36,351 shares of the company’s stock in a transaction on Thursday, December 14th. The shares were bought at an average cost of $13.05 per share, with a total value of $474,380.55. Following the purchase, the chief executive officer now owns 154,325 shares of the company’s stock, valued at approximately $2,013,941.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Christopher Theron Usher acquired 14,850 shares of the company’s stock in a transaction on Friday, December 15th. The stock was purchased at an average cost of $13.50 per share, for a total transaction of $200,475.00. Following the completion of the purchase, the chief operating officer now directly owns 137,367 shares in the company, valued at approximately $1,854,454.50. The disclosure for this purchase can be found here. Insiders bought a total of 70,589 shares of company stock worth $927,869 over the last ninety days. Corporate insiders own 15.20% of the company’s stock.

Several analysts have recently weighed in on IO shares. ValuEngine upgraded shares of Ion Geophysical from a “sell” rating to a “hold” rating in a research report on Thursday, November 2nd. Evercore ISI raised shares of Ion Geophysical from an “in” rating to an “outperform” rating in a report on Friday.

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About Ion Geophysical

ION Geophysical Corporation is a technology-focused company. It provides geophysical technology, services and solutions to the global oil and gas industry. Its offerings are designed to enable oil and gas exploration and production (E&P) companies to obtain images of the Earth’s subsurface. It offers services and products through three segments: E&P Technology & Services, E&P Operations Optimization, and Ocean Bottom Services.

Earnings History for Ion Geophysical (NYSE:IO)

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