IMAX Co. Forecasted to Post Q2 2024 Earnings of $0.12 Per Share (NYSE:IMAX)

IMAX Co. (NYSE:IMAX) – Equities research analysts at Wedbush lowered their Q2 2024 earnings per share estimates for IMAX in a report released on Thursday, April 18th. Wedbush analyst A. Reese now anticipates that the company will post earnings per share of $0.12 for the quarter, down from their prior estimate of $0.15. Wedbush currently has a “Outperform” rating and a $22.00 price target on the stock. The consensus estimate for IMAX’s current full-year earnings is $0.55 per share. Wedbush also issued estimates for IMAX’s Q3 2024 earnings at $0.30 EPS, Q1 2025 earnings at $0.15 EPS, Q2 2025 earnings at $0.21 EPS and Q4 2025 earnings at $0.39 EPS.

Several other analysts have also weighed in on IMAX. Benchmark reaffirmed a “buy” rating and issued a $22.00 price objective on shares of IMAX in a research note on Tuesday. StockNews.com lowered IMAX from a “buy” rating to a “hold” rating in a research note on Saturday, January 27th. Rosenblatt Securities cut their price target on IMAX from $30.00 to $25.00 and set a “buy” rating on the stock in a research note on Tuesday, February 13th. B. Riley cut their price target on IMAX from $27.00 to $21.00 and set a “buy” rating on the stock in a research note on Tuesday, January 2nd. Finally, JPMorgan Chase & Co. cut their price target on IMAX from $20.00 to $17.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 6th. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $20.57.

IMAX Stock Up 0.2 %

NYSE:IMAX opened at $17.10 on Friday. The stock’s 50-day simple moving average is $16.07 and its 200 day simple moving average is $16.16. The firm has a market capitalization of $905.45 million, a PE ratio of 37.17, a price-to-earnings-growth ratio of 1.54 and a beta of 1.25. IMAX has a twelve month low of $13.20 and a twelve month high of $21.82.

IMAX (NYSE:IMAX) last released its quarterly earnings data on Tuesday, February 27th. The company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.12. The business had revenue of $86.02 million for the quarter, compared to analyst estimates of $85.83 million. IMAX had a return on equity of 9.59% and a net margin of 6.76%. IMAX’s revenue was down 12.3% compared to the same quarter last year. During the same period last year, the firm posted $0.05 earnings per share.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of IMAX. PNC Financial Services Group Inc. purchased a new position in shares of IMAX during the fourth quarter valued at approximately $33,000. Tower Research Capital LLC TRC boosted its position in shares of IMAX by 164.8% during the third quarter. Tower Research Capital LLC TRC now owns 3,260 shares of the company’s stock valued at $46,000 after buying an additional 2,029 shares during the last quarter. Point72 Hong Kong Ltd purchased a new position in shares of IMAX during the fourth quarter valued at approximately $65,000. Tower Research Capital LLC TRC boosted its position in shares of IMAX by 545.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,992 shares of the company’s stock valued at $75,000 after buying an additional 4,218 shares during the last quarter. Finally, Partnership Wealth Management LLC purchased a new position in shares of IMAX during the fourth quarter valued at approximately $111,000. Hedge funds and other institutional investors own 93.51% of the company’s stock.

Insider Activity

In other news, VP Robert D. Lister sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $16.87, for a total transaction of $421,750.00. Following the completion of the sale, the vice president now owns 138,889 shares in the company, valued at $2,343,057.43. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 24.33% of the company’s stock.

IMAX Company Profile

IMAX Corporation, together with its subsidiaries, operates as a technology platform for entertainment and events worldwide. The company operates in two segments, Content Solutions and Technology Products and Services. The company offers IMAX DMR, a proprietary technology that digitally remasters films and other content into IMAX formats for distribution to the IMAX network; IMAX Enhanced that provides end-to-end technology across streaming content and entertainment devices at home; and SSIMWAVE, an AI-driven video quality solutions for media and entertainment companies.