Brokerages Anticipate Immersion Corporation (IMMR) Will Announce Earnings of -$0.27 Per Share
Wall Street analysts forecast that Immersion Corporation (NASDAQ:IMMR) will announce ($0.27) earnings per share for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Immersion Corporation’s earnings, with estimates ranging from ($0.30) to ($0.23). Immersion Corporation reported earnings per share of $0.34 during the same quarter last year, which indicates a negative year-over-year growth rate of 179.4%. The business is scheduled to issue its next earnings report on Thursday, November 2nd.
According to Zacks, analysts expect that Immersion Corporation will report full year earnings of ($1.17) per share for the current financial year, with EPS estimates ranging from ($1.24) to ($1.09). For the next fiscal year, analysts anticipate that the business will post earnings of ($0.77) per share. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for Immersion Corporation.
Immersion Corporation (NASDAQ:IMMR) last issued its quarterly earnings data on Thursday, August 3rd. The software maker reported ($0.41) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.40) by $0.01. The firm had revenue of $7 million for the quarter, compared to analysts’ expectations of $8.94 million. Immersion Corporation had a negative return on equity of 43.56% and a negative net margin of 113.47%. The firm’s revenue was down 11.4% on a year-over-year basis. During the same period last year, the company earned ($0.20) earnings per share.
IMMR has been the topic of several research reports. Cowen and Company set a $11.00 target price on Immersion Corporation and gave the company a “buy” rating in a research report on Wednesday, August 2nd. Zacks Investment Research downgraded Immersion Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, August 24th. ValuEngine upgraded Immersion Corporation from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, B. Riley initiated coverage on Immersion Corporation in a research report on Thursday, August 10th. They set a “buy” rating and a $9.75 price objective on the stock. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $10.96.
Shares of Immersion Corporation (NASDAQ IMMR) traded down 2.17% during mid-day trading on Friday, hitting $7.20. The stock had a trading volume of 131,045 shares. The firm has a 50 day moving average of $7.54 and a 200-day moving average of $8.47. Immersion Corporation has a one year low of $6.22 and a one year high of $11.92. The stock’s market cap is $210.69 million.
A number of large investors have recently bought and sold shares of the business. American International Group Inc. raised its position in Immersion Corporation by 7.1% in the first quarter. American International Group Inc. now owns 17,824 shares of the software maker’s stock valued at $154,000 after purchasing an additional 1,182 shares during the period. Private Advisor Group LLC raised its position in Immersion Corporation by 1.1% in the first quarter. Private Advisor Group LLC now owns 127,361 shares of the software maker’s stock valued at $1,065,000 after purchasing an additional 1,350 shares during the period. Goldman Sachs Group Inc. raised its position in Immersion Corporation by 4.7% in the second quarter. Goldman Sachs Group Inc. now owns 36,404 shares of the software maker’s stock valued at $331,000 after purchasing an additional 1,621 shares during the period. The Manufacturers Life Insurance Company raised its position in Immersion Corporation by 8.1% in the second quarter. The Manufacturers Life Insurance Company now owns 25,835 shares of the software maker’s stock valued at $234,000 after purchasing an additional 1,929 shares during the period. Finally, Voya Investment Management LLC raised its position in Immersion Corporation by 14.1% in the second quarter. Voya Investment Management LLC now owns 20,218 shares of the software maker’s stock valued at $184,000 after purchasing an additional 2,501 shares during the period. Institutional investors own 75.29% of the company’s stock.
Immersion Corporation Company Profile
Immersion Corporation is a licensing company focused on the creation, design, development and licensing of haptic technologies that allow people to use their sense of touch when operating digital devices. The Company develops, licenses and supports a range of software and intellectual property (IP). It is focused on the markets, including mobile devices, wearables, consumer, mobile entertainment and other content; console gaming; automotive; medical, and commercial.
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