Mitcham Industries Up 9.3%, Hits 52-Week High (MIND)

Shares of Mitcham Industries, Inc. MIND are currently up 9.3% at $10.03 per share during Wednesday afternoon trading. Today's trading range for shares of Mitcham Industries, Inc has been between $9.65 and a 52-week high of $10.41 per share. The consensus price target of analysts covering the company's stock is $11.28 per share. Volume of 100,000 shares is more than triple the daily average volume of 28,000 shares. Mitcham Industries, Inc. (MIND) released financial results after the market closed on Tuesday that far exceeded Wall Street estimates. Mitcham Industries, Inc reported 3rd quarter earnings of 7 cents per share, on revenue of $19.97 million. A poll of analysts conducted by Thomson Reuters showed an average Wall Street estimate of expected earnings of 4 cents per share, on revenue of $14.94 million. President and CEO Bill Mitcham said, "We are pleased with our third quarter results, led by continued strengthening in our leasing markets and a solid performance at Seamap, as well as the sale of new seismic equipment to a new customer, which we believe will result in future leasing opportunities. Our third quarter results are especially encouraging, considering that last year's third quarter results benefitted from a very large DSU3, three component leasing contract in North America at a time when that market was extremely weak." Read more from Benzinga's Company news.