Imation Corp. (IMN) Releases Quarterly Earnings Results, Misses Expectations By $0.05 EPS
Imation Corp. (NYSE:IMN) issued its quarterly earnings data on Thursday. The company reported ($0.35) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.30) by $0.05, Analyst Ratings News reports. The company had revenue of $178.60 million for the quarter, compared to the consensus estimate of $166.90 million. During the same quarter last year, the company posted $0.11 earnings per share. Imation Corp.’s revenue was down 15.6% compared to the same quarter last year.
Shares of Imation Corp. (NYSE:IMN) opened at 3.19 on Thursday. Imation Corp. has a 52-week low of $3.15 and a 52-week high of $6.60. The stock’s 50-day moving average is $3.35 and its 200-day moving average is $4.5. The company’s market cap is $134.0 million. Imation Corp. also was the target of a large decline in short interest during the month of July. As of July 15th, there was short interest totalling 1,828,502 shares, a decline of 48.0% from the June 30th total of 3,515,512 shares. Based on an average daily volume of 234,450 shares, the short-interest ratio is presently 7.8 days. Approximately 5.7% of the shares of the company are short sold.
On a related note, analysts at TheStreet downgraded shares of Imation Corp. from a “hold” rating to a “sell” rating in a research note on Wednesday, June 4th.
Imation Corp. (NYSE:IMN) is a global scalable storage and data security company.
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