Wedbush Weighs in on IMAX’s FY2024 Earnings (NYSE:IMAX)

IMAX Co. (NYSE:IMAX) – Stock analysts at Wedbush reduced their FY2024 earnings per share (EPS) estimates for shares of IMAX in a research report issued on Wednesday, November 27th. Wedbush analyst A. Reese now forecasts that the company will post earnings of $0.78 per share for the year, down from their previous forecast of $0.87. Wedbush currently has a “Outperform” rating on the stock. The consensus estimate for IMAX’s current full-year earnings is $0.77 per share. Wedbush also issued estimates for IMAX’s Q4 2024 earnings at $0.35 EPS and Q2 2025 earnings at $0.12 EPS.

IMAX (NYSE:IMAX) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.23 by $0.12. The company had revenue of $91.50 million during the quarter, compared to analyst estimates of $93.71 million. IMAX had a net margin of 6.74% and a return on equity of 7.53%. During the same quarter in the previous year, the firm earned $0.27 EPS. The firm’s revenue was down 11.9% compared to the same quarter last year.

A number of other brokerages have also recently commented on IMAX. Rosenblatt Securities reissued a “buy” rating and set a $28.00 target price on shares of IMAX in a report on Thursday, October 31st. StockNews.com downgraded IMAX from a “buy” rating to a “hold” rating in a research note on Friday, November 29th. Barrington Research reaffirmed an “outperform” rating and set a $24.00 target price on shares of IMAX in a research note on Thursday, October 31st. JPMorgan Chase & Co. increased their target price on shares of IMAX from $20.00 to $21.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. Finally, Roth Mkm boosted their price target on shares of IMAX from $27.00 to $28.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, two have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $24.22.

IMAX Stock Down 1.2 %

IMAX opened at $26.41 on Monday. The company has a market cap of $1.39 billion, a PE ratio of 60.02, a price-to-earnings-growth ratio of 1.74 and a beta of 1.23. IMAX has a twelve month low of $13.20 and a twelve month high of $26.84. The company has a 50-day moving average price of $22.46 and a 200 day moving average price of $19.90.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Huntington National Bank acquired a new stake in shares of IMAX during the third quarter worth about $34,000. Headlands Technologies LLC purchased a new position in shares of IMAX in the 2nd quarter valued at about $35,000. Quarry LP increased its stake in shares of IMAX by 78,333.3% during the third quarter. Quarry LP now owns 2,353 shares of the company’s stock worth $48,000 after buying an additional 2,350 shares during the period. nVerses Capital LLC acquired a new stake in IMAX in the third quarter valued at approximately $70,000. Finally, Summit Securities Group LLC purchased a new position in IMAX in the second quarter valued at $80,000. Institutional investors and hedge funds 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.