Zacks: Brokerages Expect Imax Corporation (IMAX) to Announce $0.01 Earnings Per Share
Wall Street brokerages expect that Imax Corporation (NYSE:IMAX) will post $0.01 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Six analysts have provided estimates for Imax Corporation’s earnings. The lowest EPS estimate is ($0.06) and the highest is $0.06. Imax Corporation also reported earnings of $0.01 per share in the same quarter last year. The firm is expected to report its next earnings report on Thursday, October 19th.
On average, analysts expect that Imax Corporation will report full-year earnings of $0.26 per share for the current year, with EPS estimates ranging from $0.15 to $0.34. For the next financial year, analysts forecast that the business will post earnings of $0.69 per share, with EPS estimates ranging from $0.41 to $0.98. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Imax Corporation.
Imax Corporation (NYSE:IMAX) last announced its quarterly earnings data on Wednesday, July 26th. The company reported $0.15 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.17. The company had revenue of $87.76 million for the quarter, compared to analysts’ expectations of $89.26 million. Imax Corporation had a return on equity of 2.39% and a net margin of 2.81%. Imax Corporation’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same period last year, the firm posted $0.18 EPS.
A number of equities analysts recently commented on the company. B. Riley reissued a “buy” rating and set a $46.00 price target on shares of Imax Corporation in a research note on Saturday, May 20th. Canaccord Genuity reissued a “buy” rating and set a $39.00 price target on shares of Imax Corporation in a research note on Monday, April 10th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $34.82.
In other news, Director Eric A. Demirian sold 2,670 shares of the stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $25.10, for a total value of $67,017.00. Following the sale, the director now directly owns 17,945 shares in the company, valued at $450,419.50. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 18.90% of the company’s stock.
Several large investors have recently modified their holdings of IMAX. Ameritas Investment Partners Inc. acquired a new stake in shares of Imax Corporation during the first quarter valued at $173,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Imax Corporation by 78.9% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,774 shares of the company’s stock valued at $156,000 after buying an additional 2,546 shares during the last quarter. Comerica Bank acquired a new stake in shares of Imax Corporation during the fourth quarter valued at $205,000. BNP Paribas Arbitrage SA increased its stake in shares of Imax Corporation by 1,151.0% in the second quarter. BNP Paribas Arbitrage SA now owns 6,818 shares of the company’s stock valued at $150,000 after buying an additional 6,273 shares during the last quarter. Finally, Aperio Group LLC acquired a new stake in shares of Imax Corporation during the second quarter valued at $205,000. Hedge funds and other institutional investors own 89.54% of the company’s stock.
Shares of Imax Corporation (NYSE IMAX) traded down 0.611% during trading on Monday, hitting $20.325. The company had a trading volume of 136,764 shares. Imax Corporation has a 52 week low of $19.33 and a 52 week high of $35.30. The stock has a market capitalization of $1.32 billion, a P/E ratio of 137.331 and a beta of 0.90. The firm’s 50 day moving average is $22.47 and its 200-day moving average is $28.82.
Imax Corporation announced that its Board of Directors has authorized a stock repurchase program on Monday, June 12th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 12.5% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.
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Imax Corporation Company Profile
IMAX Corporation is an entertainment technology company. The Company operates through seven segments: IMAX systems; theater system maintenance; joint revenue sharing arrangements; film production and IMAX DMR; film distribution; film post-production, and other. The IMAX systems segment designs, manufactures, sells or leases IMAX theater projection system equipment.
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