Equities analysts expect that Imax Corp (NYSE:IMAX) will report sales of $88.51 million for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Imax’s earnings, with estimates ranging from $83.41 million to $94.93 million. Imax posted sales of $82.11 million in the same quarter last year, which suggests a positive year-over-year growth rate of 7.8%. The company is expected to announce its next earnings report on Thursday, October 24th.
According to Zacks, analysts expect that Imax will report full-year sales of $400.05 million for the current fiscal year, with estimates ranging from $396.60 million to $405.62 million. For the next year, analysts expect that the business will report sales of $414.83 million, with estimates ranging from $411.04 million to $419.50 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Imax.
Imax (NYSE:IMAX) last released its quarterly earnings data on Tuesday, July 30th. The company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.10. Imax had a return on equity of 6.32% and a net margin of 7.01%. The business had revenue of $104.80 million during the quarter, compared to the consensus estimate of $98.27 million. During the same quarter in the prior year, the company posted $0.30 earnings per share. The firm’s revenue was up 6.6% on a year-over-year basis.
IMAX has been the subject of a number of research analyst reports. B. Riley set a $34.00 target price on Imax and gave the company a “buy” rating in a research note on Tuesday, September 10th. ValuEngine raised Imax from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Zacks Investment Research cut Imax from a “hold” rating to a “sell” rating and set a $23.00 target price for the company. in a research note on Tuesday, October 1st. Finally, Wedbush reissued an “outperform” rating and issued a $28.00 target price on shares of Imax in a research note on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $27.17.
NYSE:IMAX traded down $0.22 on Thursday, reaching $20.58. The company’s stock had a trading volume of 179,458 shares, compared to its average volume of 370,693. Imax has a 1-year low of $17.55 and a 1-year high of $25.75. The firm has a market cap of $1.28 billion, a PE ratio of 36.75, a PEG ratio of 1.44 and a beta of 0.98. The business’s 50-day moving average price is $21.60 and its two-hundred day moving average price is $21.90.
In other news, CEO Richard L. Gelfond sold 8,384 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $20.74, for a total transaction of $173,884.16. Following the completion of the transaction, the chief executive officer now directly owns 258,392 shares of the company’s stock, valued at $5,359,050.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Patrick Mcclymont sold 1,915 shares of the company’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $21.35, for a total value of $40,885.25. Following the transaction, the chief financial officer now directly owns 16,481 shares of the company’s stock, valued at $351,869.35. The disclosure for this sale can be found here. 20.20% of the stock is currently owned by insiders.
Several hedge funds have recently bought and sold shares of IMAX. Nuveen Asset Management LLC acquired a new position in shares of Imax during the second quarter worth about $16,497,000. Victory Capital Management Inc. acquired a new position in shares of Imax during the second quarter worth about $9,094,000. Eagle Asset Management Inc. acquired a new position in shares of Imax during the second quarter worth about $7,809,000. Renaissance Technologies LLC boosted its position in shares of Imax by 83.0% during the second quarter. Renaissance Technologies LLC now owns 835,600 shares of the company’s stock worth $16,879,000 after buying an additional 379,000 shares during the period. Finally, QV Investors Inc. acquired a new position in shares of Imax during the second quarter worth about $6,666,000. 77.55% of the stock is owned by institutional investors.
Imax Company Profile
IMAX Corporation, together with its subsidiaries, operates as an entertainment technology company that specializes in motion picture technologies and presentations worldwide. It offers cinematic solution comprising proprietary software, theater architecture, and equipment. The company engages in Digital Re-Mastering (DMR) of films into the IMAX format for exhibition in the IMAX theater network; the provision of IMAX premium theater systems to exhibitor customers through sales, long-term leases, and joint revenue sharing arrangements; the distribution of documentary films; the provision of production technical support and film post-production services; the ownership and operation of IMAX theaters; and the provision of camera and other miscellaneous items rental services.
Featured Story: Balance Sheet
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Imax Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Imax and related companies with MarketBeat.com's FREE daily email newsletter.