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Mitcham Industries (NASDAQ:MIND) was downgraded by investment analysts at Global Hunter Securities from a “buy” rating to an “accumulate” rating in a note issued to investors on Monday, TheFlyOnTheWall.com reports. They currently have a $15.00 price objective on the stock, down from their previous price objective of $17.00. Global Hunter Securities’ price objective points to a potential upside of 12.44% from the company’s current price.

Separately, analysts at TheStreet downgraded shares of Mitcham Industries from a “buy” rating to a “hold” rating in a research note on Friday, April 4th.

Mitcham Industries (NASDAQ:MIND) traded down 2.17% on Monday, hitting $13.05. 33,197 shares of the company’s stock traded hands. Mitcham Industries has a 1-year low of $13.05 and a 1-year high of $18.41. The stock has a 50-day moving average of $13.6 and a 200-day moving average of $15.2. The company has a market cap of $166.6 million and a price-to-earnings ratio of 37.06.

Mitcham Industries (NASDAQ:MIND) last issued its quarterly earnings data on Wednesday, April 2nd. The company reported $0.14 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.20 by $0.06. The company had revenue of $23.60 million for the quarter, compared to the consensus estimate of $26.95 million. During the same quarter last year, the company posted $0.26 earnings per share. On average, analysts predict that Mitcham Industries will post $0.66 earnings per share for the current fiscal year.

Mitcham Industries, Inc (NASDAQ:MIND) leases and sells geophysical and other equipment used primarily by seismic data acquisition contractors to perform seismic data acquisition surveys on land, in transition zones (marsh and shallow water areas) and deep water marine areas.

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