IMAX (NYSE:IMAX) Releases Earnings Results, Misses Expectations By $0.14 EPS

IMAX (NYSE:IMAX - Get Free Report) posted its quarterly earnings data on Wednesday. The company reported $0.17 earnings per share for the quarter, missing analysts' consensus estimates of $0.31 by ($0.14), Zacks reports. The firm had revenue of $92.67 million during the quarter, compared to analyst estimates of $104.08 million. IMAX had a net margin of 7.40% and a return on equity of 8.60%.

IMAX Price Performance

Shares of IMAX traded down $0.91 during mid-day trading on Friday, hitting $26.03. The company's stock had a trading volume of 1,170,438 shares, compared to its average volume of 707,780. The stock has a market capitalization of $1.38 billion, a price-to-earnings ratio of 53.11, a PEG ratio of 1.49 and a beta of 1.22. The firm has a 50-day moving average price of $24.65 and a 200 day moving average price of $23.00. IMAX has a fifty-two week low of $14.94 and a fifty-two week high of $27.77.

Insider Buying and Selling

In other IMAX news, CFO Natasha Fernandes sold 2,957 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $25.52, for a total value of $75,462.64. Following the completion of the sale, the chief financial officer now owns 14,883 shares in the company, valued at $379,814.16. This represents a 16.58 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Robert D. Lister sold 55,910 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $25.50, for a total value of $1,425,705.00. Following the sale, the executive vice president now owns 138,889 shares of the company's stock, valued at approximately $3,541,669.50. This represents a 28.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 65,176 shares of company stock worth $1,662,110 in the last three months. 24.08% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

IMAX has been the topic of a number of research analyst reports. Wedbush reissued an "outperform" rating and issued a $32.00 price target on shares of IMAX in a research note on Thursday. Wells Fargo & Company upped their price target on IMAX from $26.00 to $32.00 and gave the stock an "overweight" rating in a report on Thursday. Macquarie boosted their price target on IMAX from $28.00 to $30.00 and gave the stock an "outperform" rating in a research note on Thursday. JPMorgan Chase & Co. boosted their target price on shares of IMAX from $25.00 to $27.00 and gave the stock a "neutral" rating in a research report on Friday. Finally, Barrington Research lifted their price objective on shares of IMAX from $30.00 to $32.00 and gave the stock an "outperform" rating in a report on Thursday. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $30.67.

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.