IMAX Co. to Post Q2 2024 Earnings of $0.12 Per Share, Wedbush Forecasts (NYSE:IMAX)

IMAX Co. (NYSE:IMAX) – Wedbush decreased their Q2 2024 earnings per share (EPS) estimates for shares of IMAX in a report released on Thursday, April 18th. Wedbush analyst A. Reese now anticipates that the company will post earnings of $0.12 per share for the quarter, down from their prior forecast of $0.15. Wedbush has a “Outperform” rating and a $22.00 price target on the stock. The consensus estimate for IMAX’s current full-year earnings is $0.55 per share. Wedbush also issued estimates for IMAX’s Q3 2024 earnings at $0.30 EPS, Q1 2025 earnings at $0.15 EPS, Q2 2025 earnings at $0.21 EPS and Q4 2025 earnings at $0.39 EPS.

Several other research firms have also commented on IMAX. JPMorgan Chase & Co. reduced their price objective on shares of IMAX from $20.00 to $17.00 and set a “neutral” rating for the company in a research note on Tuesday, February 6th. Barrington Research reissued an “outperform” rating and issued a $24.00 price target on shares of IMAX in a report on Wednesday, February 28th. B. Riley cut their price objective on shares of IMAX from $27.00 to $21.00 and set a “buy” rating on the stock in a report on Tuesday, January 2nd. 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 research note on Tuesday, February 13th. Finally, The Goldman Sachs Group dropped their target price on shares of IMAX from $15.00 to $13.00 and set a “sell” rating on the stock in a research report on Thursday, January 11th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, IMAX currently has an average rating of “Moderate Buy” and a consensus price target of $20.57.

IMAX Trading Up 0.1 %

Shares of NYSE:IMAX opened at $17.14 on Friday. The company has a market capitalization of $907.30 million, a PE ratio of 37.25, a P/E/G ratio of 1.54 and a beta of 1.25. IMAX has a 12-month low of $13.20 and a 12-month high of $21.82. The business’s fifty day simple moving average is $16.13 and its 200-day simple moving average is $16.14.

IMAX (NYSE:IMAX) last issued its earnings results on Tuesday, February 27th. The company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.12. The business had revenue of $86.02 million during 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%. IMAX’s revenue was down 12.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.05 EPS.

Insider Activity at IMAX

In other IMAX news, VP Robert D. Lister sold 25,000 shares of the company’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 transaction, 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 is accessible through this hyperlink. 24.33% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On IMAX

Several large investors have recently bought and sold shares of IMAX. Legal & General Group Plc increased its position in shares of IMAX by 1.4% during the fourth quarter. Legal & General Group Plc now owns 43,759 shares of the company’s stock worth $642,000 after purchasing an additional 613 shares in the last quarter. SRS Capital Advisors Inc. grew its holdings in shares of IMAX by 11.1% during the first quarter. SRS Capital Advisors Inc. now owns 6,492 shares of the company’s stock worth $125,000 after buying an additional 650 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of IMAX by 8.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,929 shares of the company’s stock valued at $165,000 after buying an additional 806 shares during the last quarter. Becker Capital Management Inc. lifted its stake in shares of IMAX by 0.3% in the first quarter. Becker Capital Management Inc. now owns 241,941 shares of the company’s stock worth $4,640,000 after buying an additional 834 shares in the last quarter. Finally, Sei Investments Co. boosted its position in IMAX by 0.6% during the second quarter. Sei Investments Co. now owns 151,871 shares of the company’s stock worth $2,580,000 after acquiring an additional 943 shares during the last quarter. 93.51% of the stock is currently owned by hedge funds and other 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.