ION Geophysical (NYSE:IO) Issues Q1 2021 Earnings Guidance

ION Geophysical (NYSE:IO) issued an update on its first quarter 2021 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of – for the period. The company issued revenue guidance of $14 million-$14 million, compared to the consensus revenue estimate of $26.54 million.

ION Geophysical stock traded up $0.06 during midday trading on Tuesday, reaching $2.24. The company’s stock had a trading volume of 698,678 shares, compared to its average volume of 1,410,124. The stock’s 50-day simple moving average is $2.38 and its 200-day simple moving average is $2.46. ION Geophysical has a 52-week low of $1.36 and a 52-week high of $5.35. The stock has a market capitalization of $64.54 million, a P/E ratio of -0.77 and a beta of 4.12.

ION Geophysical (NYSE:IO) last released its quarterly earnings results on Wednesday, February 10th. The oil and gas company reported ($0.43) EPS for the quarter, beating analysts’ consensus estimates of ($0.54) by $0.11. The business had revenue of $27.30 million during the quarter, compared to analysts’ expectations of $28.43 million. Equities research analysts predict that ION Geophysical will post -2.22 earnings per share for the current year.

IO has been the subject of several research analyst reports. Zacks Investment Research upgraded ION Geophysical from a sell rating to a hold rating in a research note on Tuesday, April 20th. HC Wainwright raised their price objective on ION Geophysical from $4.00 to $10.00 and gave the stock a buy rating in a research note on Tuesday, February 16th.

About ION Geophysical

ION Geophysical Corporation provides data-driven decision-making to offshore energy, and ports, and defense industries worldwide. The company operates through two segments, E&P Technology & Services and Operations Optimization. The E&P Technology & Services segment creates digital data assets and delivers services to help E&P companies improve decision-making and reduce risk.

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