ION Geophysical (IO) Given $35.00 Consensus Target Price by Analysts

ION Geophysical (NYSE:IO) has earned an average broker rating score of 1.00 (Strong Buy) from the two brokers that provide coverage for the stock, Zacks Investment Research reports. Two research analysts have rated the stock with a strong buy rating.

Brokers have set a one year consensus target price of $35.00 for the company and are expecting that the company will post ($1.04) EPS for the current quarter, according to Zacks. Zacks has also assigned ION Geophysical an industry rank of 114 out of 265 based on the ratings given to related companies.

A number of research firms have weighed in on IO. ValuEngine upgraded shares of ION Geophysical from a “sell” rating to a “hold” rating in a research report on Friday, April 6th. Oppenheimer began coverage on shares of ION Geophysical in a research report on Thursday, March 29th. They issued an “outperform” rating and a $35.00 price target for the company. CIBC began coverage on shares of ION Geophysical in a research report on Thursday, March 29th. They issued an “outperform” rating for the company. Finally, Evercore ISI upgraded shares of ION Geophysical from an “in-line” rating to an “outperform” rating in a research report on Friday, February 9th.

Several institutional investors and hedge funds have recently bought and sold shares of IO. OxFORD Asset Management LLP lifted its holdings in shares of ION Geophysical by 49.6% in the third quarter. OxFORD Asset Management LLP now owns 42,286 shares of the oil and gas company’s stock worth $400,000 after buying an additional 14,021 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in shares of ION Geophysical by 14.1% in the third quarter. Wells Fargo & Company MN now owns 79,995 shares of the oil and gas company’s stock worth $761,000 after buying an additional 9,900 shares in the last quarter. Spark Investment Management LLC lifted its holdings in shares of ION Geophysical by 21.7% in the fourth quarter. Spark Investment Management LLC now owns 60,100 shares of the oil and gas company’s stock worth $1,186,000 after buying an additional 10,700 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of ION Geophysical by 24.0% in the third quarter. JPMorgan Chase & Co. now owns 118,559 shares of the oil and gas company’s stock worth $1,114,000 after buying an additional 22,913 shares in the last quarter. Finally, Alambic Investment Management L.P. purchased a new position in shares of ION Geophysical in the fourth quarter worth $622,000. Institutional investors and hedge funds own 32.30% of the company’s stock.

NYSE IO traded up $0.55 during trading hours on Wednesday, hitting $28.85. 197,164 shares of the company’s stock traded hands, compared to its average volume of 263,236. The company has a current ratio of 0.94, a quick ratio of 0.83 and a debt-to-equity ratio of 3.79. The firm has a market capitalization of $407.69, a price-to-earnings ratio of -17.92 and a beta of 2.82. ION Geophysical has a 52 week low of $3.20 and a 52 week high of $32.45.

ION Geophysical (NYSE:IO) last announced its earnings results on Wednesday, February 7th. The oil and gas company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.43. The company had revenue of $57.90 million during the quarter. ION Geophysical had a negative net margin of 15.31% and a negative return on equity of 65.84%. sell-side analysts predict that ION Geophysical will post 0.11 EPS for the current year.

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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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