Ion Geophysical Corp (IO) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Ion Geophysical Corp (NYSE:IO) have received a consensus recommendation of “Hold” from the six brokerages that are currently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $35.00.

A number of equities research analysts have recently commented on the company. Zacks Investment Research downgraded Ion Geophysical from a “hold” rating to a “sell” rating in a research report on Tuesday. ValuEngine upgraded Ion Geophysical from a “sell” rating to a “hold” rating in a research report on Monday, April 1st.

A number of large investors have recently made changes to their positions in IO. Deutsche Bank AG raised its stake in Ion Geophysical by 219.4% during the 4th quarter. Deutsche Bank AG now owns 233,097 shares of the oil and gas company’s stock valued at $1,206,000 after purchasing an additional 160,116 shares during the period. Vanguard Group Inc raised its stake in Ion Geophysical by 8.0% during the 3rd quarter. Vanguard Group Inc now owns 526,320 shares of the oil and gas company’s stock valued at $8,184,000 after purchasing an additional 38,778 shares during the period. Vanguard Group Inc. raised its stake in Ion Geophysical by 8.0% during the 3rd quarter. Vanguard Group Inc. now owns 526,320 shares of the oil and gas company’s stock valued at $8,184,000 after purchasing an additional 38,778 shares during the period. Neuberger Berman Group LLC raised its stake in Ion Geophysical by 9.0% during the 1st quarter. Neuberger Berman Group LLC now owns 456,428 shares of the oil and gas company’s stock valued at $6,593,000 after purchasing an additional 37,688 shares during the period. Finally, Citigroup Inc. raised its stake in Ion Geophysical by 1,097.7% during the 4th quarter. Citigroup Inc. now owns 39,501 shares of the oil and gas company’s stock valued at $204,000 after purchasing an additional 36,203 shares during the period. 44.49% of the stock is currently owned by institutional investors.

Shares of NYSE:IO opened at $7.24 on Monday. Ion Geophysical has a one year low of $4.53 and a one year high of $26.85. The firm has a market cap of $106.79 million, a PE ratio of -3.05 and a beta of 3.64. The company has a debt-to-equity ratio of 15.28, a current ratio of 0.94 and a quick ratio of 0.81.

Ion Geophysical (NYSE:IO) last announced its quarterly earnings data on Wednesday, May 1st. The oil and gas company reported ($1.52) EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $36.96 million for the quarter, compared to analyst estimates of $34.20 million. On average, equities research analysts expect that Ion Geophysical will post -1.74 EPS 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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