Brokers Offer Predictions for Parametric Sound Corp.’s FY2016 Earnings (HEAR)
Parametric Sound Corp. (NASDAQ:HEAR) – Equities researchers at B. Riley boosted their FY2016 earnings per share (EPS) estimates for shares of Parametric Sound Corp. in a report issued on Monday. B. Riley analyst E. Wold now expects that the firm will post earnings per share of ($0.45) for the year, up from their previous forecast of ($1.08). B. Riley has a “Buy” rating and a $2.00 price objective on the stock.
Separately, Zacks Investment Research upgraded shares of Parametric Sound Corp. from a “hold” rating to a “buy” rating and set a $1.75 price objective for the company in a research note on Tuesday. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Parametric Sound Corp. has a consensus rating of “Hold” and a consensus price target of $1.73.
Shares of Parametric Sound Corp. (NASDAQ:HEAR) opened at 1.63 on Thursday. The company has a 50-day moving average of $1.36 and a 200 day moving average of $1.11. The company’s market capitalization is $80.24 million. Parametric Sound Corp. has a 12 month low of $0.83 and a 12 month high of $2.59.
Parametric Sound Corp. (NASDAQ:HEAR) last issued its quarterly earnings data on Thursday, November 10th. The company reported ($0.10) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.16) by $0.06. The firm had revenue of $38.40 million for the quarter, compared to the consensus estimate of $37.37 million. Parametric Sound Corp. had a negative net margin of 82.75% and a negative return on equity of 116.85%.
In related news, insider Frederick J. Romano sold 144,000 shares of the company’s stock in a transaction on Monday, September 26th. The shares were sold at an average price of $1.33, for a total transaction of $191,520.00. Following the completion of the transaction, the insider now directly owns 4,819,000 shares in the company, valued at approximately $6,409,270. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Carmine J. Bonanno sold 301,253 shares of the company’s stock in a transaction on Tuesday, September 13th. The shares were sold at an average price of $0.99, for a total transaction of $298,240.47. Following the transaction, the insider now owns 2,115,492 shares of the company’s stock, valued at $2,094,337.08. The disclosure for this sale can be found here. Corporate insiders own 74.00% of the company’s stock.
About Parametric Sound Corp.
Turtle Beach Corporation is an audio technology company. The Company is engaged in developing, commercializing and marketing products under the Turtle Beach and HyperSound brands. The Company operates through two segments: Voyetra Turtle Beach (Headset) and HyperSound. Turtle Beach is a provider of headset solutions for use across multiple platforms, including video game and entertainment consoles, handheld consoles, personal computers, tablets and mobile devices.
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