Geospace Technologies Corp. (GEOS) Downgraded by Zacks Investment Research to “Hold”
According to Zacks, “Geospace Technologies Corporation is engaged in the designing and manufacturing of scientific instrumentation and equipment used in the acquisition and processing of seismic data, as well as in the characterization and monitoring of producing oil and gas reservoirs. The Company also manufactures and distributes thermal imaging equipment and dry thermal film products. Geospace’s seismic products consist of land and marine nodal seismic data acquisition systems; multi-component geophones and hydrophones; seismic leader wires; geophone string and acquisition system connectors; seismic telemetry cables; marine seismic cable retrieval and steering devices; and data acquisition systems. It also designs and manufactures non-seismic products, including industrial products, offshore cables, thermal printing equipment and film. Geospace Technologies Corporation, formerly known as OYO Geospace Corporation, is headquartered in Houston, Texas. “
Geospace Technologies Corp. (NASDAQ:GEOS) opened at 17.46 on Tuesday. The firm’s market cap is $232.71 million. Geospace Technologies Corp. has a one year low of $7.62 and a one year high of $20.62. The stock’s 50 day moving average is $18.26 and its 200 day moving average is $16.99.
Geospace Technologies Corp. (NASDAQ:GEOS) last announced its earnings results on Thursday, August 4th. The company reported ($0.89) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.57) by $0.32. The company had revenue of $17.70 million for the quarter, compared to the consensus estimate of $15.05 million. Geospace Technologies Corp. had a negative return on equity of 16.59% and a negative net margin of 76.29%. The firm’s revenue for the quarter was down 10.2% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.66) EPS. On average, equities research analysts expect that Geospace Technologies Corp. will post ($2.41) earnings per share for the current year.
Several large investors have recently bought and sold shares of the stock. BlackRock Fund Advisors boosted its stake in Geospace Technologies Corp. by 3.5% in the second quarter. BlackRock Fund Advisors now owns 892,845 shares of the company’s stock valued at $14,616,000 after buying an additional 30,451 shares in the last quarter. Vanguard Group Inc. boosted its stake in Geospace Technologies Corp. by 5.0% in the second quarter. Vanguard Group Inc. now owns 552,187 shares of the company’s stock valued at $9,039,000 after buying an additional 26,147 shares in the last quarter. Capital One National Association acquired a new stake in Geospace Technologies Corp. during the second quarter valued at $349,000. Brandes Investment Partners LP acquired a new stake in Geospace Technologies Corp. during the second quarter valued at $269,000. Finally, Virginia Retirement Systems ET AL acquired a new stake in Geospace Technologies Corp. during the second quarter valued at $252,000. 89.10% of the stock is owned by institutional investors.
About Geospace Technologies Corp.
Geospace Technologies Corporation designs and manufactures instruments and equipment used in the oil and gas industry to acquire seismic data in order to locate, characterize and monitor hydrocarbon producing reservoirs. The Company operates in two segments: Seismic and Non-Seismic. Its seismic product lines consist of land and marine nodal data acquisition systems, permanent land and seabed reservoir monitoring products and services, geophones and geophone strings, hydrophones, leader wire, connectors, telemetry cables, marine streamer retrieval and steering devices, and various other products.
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