I think you are probably right. No need to be a hero and try to catch a falling knife. Wait until consensus EPS stops falling and actually moves up for a month. OK, you won't get the absolute bottom doing it this way, but you won't be stuck in dead money for months / years either.
If they had a dividend more than 1.6% you could get paid to wait it out. But at this poor dividend yield even that's not appealing.