IO - Earn 10.5% Yield To Maturity With Ion Geophysical's 2021 Bonds
Ion Geophysical (IO) reported solid fourth quarter earnings last Wednesday. The company's revenue and EPS beats sent the stock rallying by more than 20%. Despite the rise in share prices, the company's 2021 bonds dropped in price from the high to mid-90s. At the current price of 96.5 cents on the dollar, combined with a 9.125% coupon, the bonds yield 10.5% to maturity. A deeper look into Ion's financial performance and outlook should help fixed income investors determine if their high yield bonds are a good investment.
Source: FINRA
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