Equities Analysts Set Expectations for IMAX Co.’s Q1 2024 Earnings (NYSE:IMAX)

IMAX Co. (NYSE:IMAX) – Barrington Research issued their Q1 2024 earnings per share estimates for IMAX in a note issued to investors on Monday, April 22nd. Barrington Research analyst J. Goss anticipates that the company will post earnings per share of $0.06 for the quarter. Barrington Research currently has a “Outperform” rating and a $24.00 target price on the stock. The consensus estimate for IMAX’s current full-year earnings is $0.57 per share. Barrington Research also issued estimates for IMAX’s Q1 2025 earnings at $0.03 EPS.

IMAX (NYSE:IMAX) last posted its earnings results on Thursday, April 25th. The company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.05. IMAX had a net margin of 6.76% and a return on equity of 9.59%. The company had revenue of $79.12 million during the quarter, compared to analyst estimates of $77.88 million.

Several other equities analysts have also issued reports on IMAX. Benchmark reiterated a “buy” rating and set a $22.00 target price on shares of IMAX in a report on Friday. Wedbush reiterated an “outperform” rating and set a $22.00 target price on shares of IMAX in a report on Friday. JPMorgan Chase & Co. lowered their target price on shares of IMAX from $20.00 to $17.00 and set a “neutral” rating for the company in a report on Tuesday, February 6th. StockNews.com lowered shares of IMAX from a “buy” rating to a “hold” rating in a report on Saturday, January 27th. Finally, Rosenblatt Securities lowered their target price on shares of IMAX from $30.00 to $25.00 and set a “buy” rating for the company in a report on Tuesday, February 13th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $20.57.

IMAX Price Performance

Shares of IMAX opened at $17.14 on Thursday. IMAX has a one year low of $13.20 and a one year high of $21.82. The company has a 50-day simple moving average of $16.37 and a two-hundred day simple moving average of $16.10. The firm has a market capitalization of $907.56 million, a PE ratio of 37.26, a price-to-earnings-growth ratio of 1.55 and a beta of 1.25.

Insider Activity

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 transaction 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 approximately $2,343,057.43. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 24.33% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of IMAX. PNC Financial Services Group Inc. purchased a new stake in IMAX in the 4th quarter worth $33,000. Tower Research Capital LLC TRC lifted 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 worth $75,000 after purchasing an additional 4,218 shares in the last quarter. Partnership Wealth Management LLC purchased a new stake in IMAX in the 4th quarter worth $111,000. SG Americas Securities LLC purchased a new stake in IMAX in the 3rd quarter worth $139,000. Finally, C M Bidwell & Associates Ltd. purchased a new stake in IMAX in the 3rd quarter worth $160,000. Hedge funds and other institutional investors own 93.51% of the company’s stock.

About IMAX

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.