IMAX (IMAX) to Release Quarterly Earnings on Thursday

IMAX (NYSE:IMAX) is set to issue its quarterly earnings data before the market opens on Thursday, April 25th. Analysts expect the company to announce earnings of $0.08 per share for the quarter. Parties interested in listening to the company’s conference call can do so using this link.

IMAX (NYSE:IMAX) last posted its earnings results on Tuesday, February 27th. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.12. The company 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%. The firm’s quarterly revenue was down 12.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.05 earnings per share. On average, analysts expect IMAX to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

IMAX Stock Performance

Shares of NYSE IMAX opened at $17.08 on Thursday. The company has a market cap of $904.39 million, a PE ratio of 37.13, a P/E/G ratio of 1.42 and a beta of 1.25. The business has a 50-day simple moving average of $16.00 and a two-hundred day simple moving average of $16.16. IMAX has a fifty-two week low of $13.20 and a fifty-two week high of $21.82.

Insider Buying and Selling at IMAX

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 value of $421,750.00. Following the completion of the sale, the vice president now directly owns 138,889 shares in the company, valued at $2,343,057.43. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 24.33% of the stock is currently owned by corporate insiders.

Institutional Trading of IMAX

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Macquarie Group Ltd. increased its position in shares of IMAX by 16.8% in the first quarter. Macquarie Group Ltd. now owns 3,002,830 shares of the company’s stock valued at $57,594,000 after buying an additional 431,231 shares in the last quarter. Invesco Ltd. increased its position in shares of IMAX by 2.2% during the first quarter. Invesco Ltd. now owns 2,217,169 shares of the company’s stock worth $41,971,000 after purchasing an additional 48,232 shares in the last quarter. Millennium Management LLC increased its position in shares of IMAX by 21.3% during the fourth quarter. Millennium Management LLC now owns 2,194,019 shares of the company’s stock worth $32,164,000 after purchasing an additional 385,912 shares in the last quarter. Alliancebernstein L.P. increased its position in shares of IMAX by 1.8% during the fourth quarter. Alliancebernstein L.P. now owns 2,018,885 shares of the company’s stock worth $29,597,000 after purchasing an additional 36,620 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of IMAX by 6.8% during the first quarter. Dimensional Fund Advisors LP now owns 1,684,780 shares of the company’s stock worth $32,313,000 after purchasing an additional 107,989 shares in the last quarter. 93.51% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

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.