Ion Geophysical (IO) got here out with a quarterly lack of $0.43 per share versus the Zacks Consensus Estimate of a lack of $0.24. This compares to lack of $0.85 per share a 12 months in the past. These figures are adjusted for non-recurring gadgets.
This quarterly report represents an earnings shock of -79.17%. 1 / 4 in the past, it was anticipated that this supplier of seismic information to grease and gasoline corporations would put up a lack of $0.61 per share when it really produced a lack of $0.95, delivering a shock of -55.74%.
Over the past 4 quarters, the corporate has surpassed consensus EPS estimates simply as soon as.
Ion Geophysical, which belongs to the Zacks Oil and Fuel – Mechanical and and Tools trade, posted revenues of $19.71 million for the quarter ended June 2021, surpassing the Zacks Consensus Estimate by 1.10%. This compares to year-ago revenues of $22.73 million. The corporate has topped consensus income estimates two instances during the last 4 quarters.
The sustainability of the inventory’s rapid worth motion primarily based on the recently-released numbers and future earnings expectations will principally rely upon administration’s commentary on the earnings name.
Ion Geophysical shares have misplaced about 40.3% for the reason that starting of the 12 months versus the S&P 500’s achieve of 18.1%.
What’s Subsequent for Ion Geophysical?
Whereas Ion Geophysical has underperformed the market up to now this 12 months, the query that involves buyers’ minds is: what’s subsequent for the inventory?
There aren’t any simple solutions to this key query, however one dependable measure that may assist buyers tackle that is the corporate’s earnings outlook. Not solely does this embody present consensus earnings expectations for the approaching quarter(s), but in addition how these expectations have modified currently.
Empirical analysis reveals a robust correlation between near-term inventory actions and tendencies in earnings estimate revisions. Traders can monitor such revisions by themselves or depend on a tried-and-tested ranking instrument just like the Zacks Rank, which has a formidable monitor report of harnessing the ability of earnings estimate revisions.
Forward of this earnings launch, the estimate revisions pattern for Ion Geophysical was combined. Whereas the magnitude and path of estimate revisions may change following the corporate’s just-released earnings report, the present standing interprets right into a Zacks Rank #3 (Maintain) for the inventory. So, the shares are anticipated to carry out in keeping with the market within the close to future. You’ll be able to see the whole listing of immediately’s Zacks #1 Rank (Sturdy Purchase) shares right here.
It will likely be fascinating to see how estimates for the approaching quarters and present fiscal 12 months change within the days forward. The present consensus EPS estimate is -$0.18 on $24.9 million in revenues for the approaching quarter and -$0.81 on $98.5 million in revenues for the present fiscal 12 months.
Traders ought to be aware of the truth that the outlook for the trade can have a fabric impression on the efficiency of the inventory as effectively. By way of the Zacks Business Rank, Oil and Fuel – Mechanical and and Tools is at present within the backside 4% of the 250 plus Zacks industries. Our analysis reveals that the highest 50% of the Zacks-ranked industries outperform the underside 50% by an element of greater than 2 to 1.
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Ion Geophysical Company (IO): Free Inventory Evaluation Report
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The views and opinions expressed herein are the views and opinions of the writer and don’t essentially replicate these of Nasdaq, Inc.