Ion Geophysical (IO) Issues Earnings Results, Beats Estimates By $0.43 EPS
Ion Geophysical (NYSE:IO) posted its quarterly earnings results on Wednesday. The oil and gas company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.43, Yahoo Finance reports. Ion Geophysical had a negative return on equity of 102.40% and a negative net margin of 20.19%. The business had revenue of $57.90 million for the quarter.
Shares of Ion Geophysical (NYSE IO) traded up $4.50 on Friday, reaching $27.55. The company’s stock had a trading volume of 795,619 shares, compared to its average volume of 232,247. The company has a debt-to-equity ratio of 3.88, a current ratio of 0.89 and a quick ratio of 0.78. The company has a market cap of $237.92, a price-to-earnings ratio of -9.38 and a beta of 3.62. Ion Geophysical has a 1 year low of $3.20 and a 1 year high of $28.55.
In other Ion Geophysical news, CEO R Brian Hanson bought 36,351 shares of Ion Geophysical stock in a transaction dated Thursday, December 14th. The stock was bought at an average cost of $13.05 per share, with a total value of $474,380.55. Following the completion of the acquisition, the chief executive officer now directly owns 154,325 shares in the company, valued at approximately $2,013,941.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Christopher Theron Usher bought 14,850 shares of Ion Geophysical stock in a transaction dated Friday, December 15th. The stock was acquired at an average cost of $13.50 per share, with a total value of $200,475.00. Following the completion of the acquisition, the chief operating officer now owns 137,367 shares of the company’s stock, valued at $1,854,454.50. The disclosure for this purchase can be found here. Insiders have acquired a total of 70,589 shares of company stock valued at $927,869 over the last three months. Corporate insiders own 15.20% of the company’s stock.
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Ion Geophysical Company Profile
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.
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