Analysts Expect Immersion Co. (NASDAQ:IMMR) to Post $0.02 EPS

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Equities analysts predict that Immersion Co. (NASDAQ:IMMR) will announce $0.02 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Zero analysts have issued estimates for Immersion’s earnings. Immersion posted earnings of ($0.07) per share during the same quarter last year, which indicates a positive year-over-year growth rate of 128.6%. The company is scheduled to announce its next earnings results on Thursday, November 7th.

According to Zacks, analysts expect that Immersion will report full-year earnings of ($0.31) per share for the current fiscal year. For the next year, analysts expect that the business will post earnings of $0.37 per share. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that follow Immersion.

Immersion (NASDAQ:IMMR) last announced its earnings results on Thursday, August 1st. The software maker reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.09). The business had revenue of $8.70 million during the quarter, compared to the consensus estimate of $8.68 million. Immersion had a negative return on equity of 29.16% and a negative net margin of 82.38%. Immersion’s revenue was up 42.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.18) earnings per share.

Several brokerages recently weighed in on IMMR. BidaskClub upgraded Immersion from a “sell” rating to a “hold” rating in a report on Wednesday. ValuEngine upgraded Immersion from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Dougherty & Co upgraded Immersion from a “neutral” rating to a “buy” rating and set a $13.00 price objective for the company in a report on Tuesday, May 14th. Zacks Investment Research upgraded Immersion from a “hold” rating to a “buy” rating and set a $8.75 price objective for the company in a report on Thursday, August 8th. Finally, TheStreet cut Immersion from a “c” rating to a “d” rating in a report on Friday, May 31st. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Immersion currently has a consensus rating of “Buy” and an average target price of $10.81.

IMMR stock traded up $0.16 during trading on Tuesday, hitting $7.93. 298,500 shares of the company traded hands, compared to its average volume of 314,534. The firm has a market capitalization of $246.19 million, a PE ratio of 4.56 and a beta of 1.15. Immersion has a 1 year low of $7.02 and a 1 year high of $11.95. The company has a 50-day moving average of $7.66 and a 200-day moving average of $8.42.

In related news, major shareholder Opportunities Fund Lp Se Viex acquired 94,292 shares of Immersion stock in a transaction that occurred on Tuesday, June 18th. The stock was bought at an average price of $7.60 per share, with a total value of $716,619.20. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Raging Capital Management, Llc acquired 40,000 shares of Immersion stock in a transaction that occurred on Monday, August 5th. The shares were bought at an average cost of $7.77 per share, with a total value of $310,800.00. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 156,791 shares of company stock valued at $1,201,337. 1.75% of the stock is currently owned by company insiders.

A number of hedge funds have recently bought and sold shares of IMMR. Royal Bank of Canada lifted its holdings in Immersion by 979.7% during the second quarter. Royal Bank of Canada now owns 10,873 shares of the software maker’s stock worth $83,000 after buying an additional 9,866 shares during the period. D. E. Shaw & Co. Inc. lifted its stake in Immersion by 10.6% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 219,233 shares of the software maker’s stock valued at $1,668,000 after buying an additional 20,951 shares in the last quarter. Cubist Systematic Strategies LLC lifted its stake in Immersion by 65.2% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 36,648 shares of the software maker’s stock valued at $279,000 after buying an additional 14,469 shares in the last quarter. ETF Managers Group LLC lifted its stake in Immersion by 21.2% in the 2nd quarter. ETF Managers Group LLC now owns 53,618 shares of the software maker’s stock valued at $407,000 after buying an additional 9,372 shares in the last quarter. Finally, Tower Research Capital LLC TRC purchased a new position in Immersion in the 2nd quarter valued at about $119,000. 74.08% of the stock is owned by institutional investors.

Immersion Company Profile

Immersion Corporation creates, designs, develops, and licenses haptic technologies in North America, Europe, and Asia. Its technologies allow people to use their sense of touch when they engage with various digital products. The company offers TouchSense Lite and TouchSense Premium patent licenses, haptic technologies to original equipment manufacturers.

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