FY2024 EPS Estimates for IMAX Co. (NYSE:IMAX) Reduced by Analyst

IMAX Co. (NYSE:IMAX) – Analysts at Roth Capital dropped their FY2024 EPS estimates for IMAX in a research report issued on Wednesday, April 10th. Roth Capital analyst E. Handler now expects that the company will post earnings of $0.59 per share for the year, down from their previous forecast of $0.62. The consensus estimate for IMAX’s current full-year earnings is $0.58 per share. Roth Capital also issued estimates for IMAX’s FY2025 earnings at $0.93 EPS and FY2026 earnings at $1.07 EPS.

IMAX has been the topic of a number of other research reports. B. Riley decreased their price objective on shares of IMAX from $27.00 to $21.00 and set a “buy” rating on the stock in a report on Tuesday, January 2nd. Rosenblatt Securities reduced their price target on shares of IMAX from $30.00 to $25.00 and set a “buy” rating on the stock in a report on Tuesday, February 13th. The Goldman Sachs Group reduced their price target on shares of IMAX from $15.00 to $13.00 and set a “sell” rating on the stock in a report on Thursday, January 11th. Barrington Research reaffirmed an “outperform” rating and issued a $24.00 price target on shares of IMAX in a report on Wednesday, February 28th. Finally, JPMorgan Chase & Co. reduced their price target on shares of IMAX from $20.00 to $17.00 and set a “neutral” rating on the stock in a report on Tuesday, February 6th. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $20.57.

IMAX Trading Down 0.4 %

IMAX stock opened at $16.36 on Monday. The company has a market cap of $866.26 million, a P/E ratio of 35.57, a P/E/G ratio of 1.43 and a beta of 1.25. IMAX has a 52 week low of $13.20 and a 52 week high of $21.82. The company’s 50-day moving average price is $15.87 and its 200 day moving average price is $16.17.

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

Insider Buying and Selling

In other news, VP Robert D. Lister sold 25,000 shares of the stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $16.87, for a total value of $421,750.00. Following the completion of the sale, the vice president now owns 138,889 shares of the company’s stock, valued at $2,343,057.43. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 24.33% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. increased its holdings in shares of IMAX by 4.0% in the 1st quarter. JPMorgan Chase & Co. now owns 706,135 shares of the company’s stock worth $13,367,000 after acquiring an additional 27,207 shares during the period. HighTower Advisors LLC bought a new position in shares of IMAX during the 1st quarter valued at about $229,000. Citigroup Inc. boosted its position in shares of IMAX by 40.9% during the 1st quarter. Citigroup Inc. now owns 66,264 shares of the company’s stock valued at $1,254,000 after purchasing an additional 19,226 shares in the last quarter. MetLife Investment Management LLC boosted its holdings in shares of IMAX by 53.9% in the first quarter. MetLife Investment Management LLC now owns 27,896 shares of the company’s stock worth $528,000 after buying an additional 9,767 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of IMAX by 0.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,039,779 shares of the company’s stock worth $19,684,000 after buying an additional 6,605 shares during the period. 93.51% of the stock is currently owned by hedge funds and other institutional investors.

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.