Media stories about Ion Geophysical (NYSE:IO) have been trending somewhat positive recently, according to Accern Sentiment Analysis. Accern scores the sentiment of media coverage by monitoring more than twenty million news and blog sources in real time. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Ion Geophysical earned a coverage optimism score of 0.13 on Accern’s scale. Accern also assigned press coverage about the oil and gas company an impact score of 45.0469762113443 out of 100, meaning that recent media coverage is somewhat unlikely to have an effect on the stock’s share price in the near term.
NYSE:IO traded down $0.45 during mid-day trading on Wednesday, hitting $17.15. The company’s stock had a trading volume of 110,981 shares, compared to its average volume of 248,061. Ion Geophysical has a 1 year low of $7.55 and a 1 year high of $32.45. The company has a debt-to-equity ratio of 3.45, a quick ratio of 0.88 and a current ratio of 1.04. The firm has a market cap of $251.35 million, a price-to-earnings ratio of -10.65 and a beta of 2.58.
Ion Geophysical (NYSE:IO) last posted its quarterly earnings results on Wednesday, August 1st. The oil and gas company reported ($1.68) EPS for the quarter, missing the consensus estimate of ($0.23) by ($1.45). Ion Geophysical had a negative net margin of 22.99% and a negative return on equity of 79.01%. The business had revenue of $24.74 million during the quarter, compared to analysts’ expectations of $47.30 million. equities research analysts predict that Ion Geophysical will post -0.63 earnings per share for the current fiscal year.
Several equities research analysts have commented on IO shares. Janney Montgomery Scott started coverage on shares of Ion Geophysical in a report on Tuesday, May 29th. They issued a “buy” rating and a $35.00 price target on the stock. Oppenheimer lowered their price target on shares of Ion Geophysical to $79.00 and set an “outperform” rating on the stock in a 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 currently has a consensus rating of “Buy” and an average price target of $57.00.
In other news, CEO R Brian Hanson sold 97,760 shares of the stock in a transaction dated Friday, June 22nd. The shares were sold at an average price of $23.18, for a total transaction of $2,266,076.80. Following the sale, the chief executive officer now directly owns 50,040 shares of the company’s stock, valued at approximately $1,159,927.20. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director James M. Lapeyre, Jr. bought 40,000 shares of the stock in a transaction dated Wednesday, August 15th. The shares were purchased at an average cost of $15.88 per share, for a total transaction of $635,200.00. Following the completion of the purchase, the director now owns 172,773 shares in the company, valued at $2,743,635.24. The disclosure for this purchase can be found here. Corporate insiders own 14.60% of the company’s stock.
About Ion Geophysical
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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