IMAX Co. Expected to Earn Q2 2024 Earnings of $0.05 Per Share (NYSE:IMAX)

IMAX Co. (NYSE:IMAX) – Investment analysts at Barrington Research lowered their Q2 2024 EPS estimates for shares of IMAX in a research note issued on Monday, April 22nd. Barrington Research analyst J. Goss now forecasts that the company will earn $0.05 per share for the quarter, down from their prior forecast of $0.09. Barrington Research has a “Outperform” rating and a $24.00 price objective on the stock. The consensus estimate for IMAX’s current full-year earnings is $0.56 per share. Barrington Research also issued estimates for IMAX’s Q3 2024 earnings at $0.12 EPS, FY2024 earnings at $0.48 EPS, Q2 2025 earnings at $0.08 EPS, Q3 2025 earnings at $0.14 EPS and FY2025 earnings at $0.59 EPS.

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

Other analysts have also issued research reports about the stock. Benchmark reissued a “buy” rating and issued a $22.00 price target on shares of IMAX in a report on Tuesday, April 16th. StockNews.com downgraded IMAX from a “buy” rating to a “hold” rating in a research report on Saturday, January 27th. Rosenblatt Securities lowered their price objective on IMAX from $30.00 to $25.00 and set a “buy” rating for the company in a research report on Tuesday, February 13th. JPMorgan Chase & Co. reduced their target price on shares of IMAX from $20.00 to $17.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 6th. Finally, Wedbush reiterated an “outperform” rating and set a $22.00 price target on shares of IMAX in a research report on Thursday, April 18th. 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. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $20.57.

IMAX Price Performance

IMAX stock opened at $17.65 on Wednesday. The stock has a market capitalization of $934.57 million, a price-to-earnings ratio of 38.37, a P/E/G ratio of 1.52 and a beta of 1.25. The business has a fifty day moving average price of $16.25 and a 200 day moving average price of $16.08. IMAX has a fifty-two week low of $13.20 and a fifty-two week high of $21.82.

Insider Activity at IMAX

In other news, VP Robert D. Lister sold 25,000 shares of the business’s 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 sale, the vice president now owns 138,889 shares of the company’s stock, valued at $2,343,057.43. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 24.33% of the stock is owned by insiders.

Hedge Funds Weigh In On IMAX

Hedge funds and other institutional investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. bought a new stake in IMAX in the fourth quarter valued at approximately $33,000. Tower Research Capital LLC TRC raised its stake in IMAX by 545.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,992 shares of the company’s stock valued at $75,000 after acquiring an additional 4,218 shares during the period. SG Americas Securities LLC acquired a new stake in IMAX during the 3rd quarter valued at $139,000. Partnership Wealth Management LLC bought a new position in IMAX during the fourth quarter worth $111,000. Finally, C M Bidwell & Associates Ltd. bought a new position in IMAX during the third quarter worth $160,000. 93.51% of the stock is owned by 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.