IMAX Co. (NYSE:IMAX) Forecasted to Earn Q3 2024 Earnings of $0.09 Per Share

IMAX Co. (NYSE:IMAX - Free Report) - Investment analysts at B. Riley dropped their Q3 2024 earnings estimates for shares of IMAX in a report released on Thursday, October 3rd. B. Riley analyst E. Wold now expects that the company will earn $0.09 per share for the quarter, down from their prior forecast of $0.11. B. Riley has a "Buy" rating and a $30.00 price objective on the stock. The consensus estimate for IMAX's current full-year earnings is $0.69 per share. B. Riley also issued estimates for IMAX's FY2024 earnings at $0.75 EPS, Q2 2025 earnings at $0.04 EPS, Q3 2025 earnings at $0.15 EPS and FY2025 earnings at $0.84 EPS.

IMAX (NYSE:IMAX - Get Free Report) last issued its earnings results on Thursday, July 25th. The company reported $0.18 EPS for the quarter, beating analysts' consensus estimates of $0.07 by $0.11. IMAX had a return on equity of 7.78% and a net margin of 5.97%. The firm had revenue of $88.96 million for the quarter, compared to the consensus estimate of $74.52 million. During the same quarter in the previous year, the company posted $0.17 earnings per share. The business's quarterly revenue was down 9.2% compared to the same quarter last year.

Several other analysts also recently issued reports on the company. Barrington Research reiterated an "outperform" rating and set a $24.00 price target on shares of IMAX in a research note on Wednesday, September 25th. Benchmark reissued a "buy" rating and set a $22.00 price objective on shares of IMAX in a research report on Thursday, June 20th. Seaport Res Ptn raised shares of IMAX to a "strong-buy" rating in a research note on Wednesday, July 24th. Roth Mkm lifted their price objective on IMAX from $23.00 to $27.00 and gave the stock a "buy" rating in a research note on Friday, July 26th. Finally, Wedbush raised their target price on IMAX from $24.00 to $26.00 and gave the stock an "outperform" rating in a report on Tuesday, September 3rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $23.67.

IMAX Trading Down 1.6 %

NYSE IMAX traded down $0.31 on Friday, reaching $19.51. The stock had a trading volume of 541,891 shares, compared to its average volume of 780,759. The business has a 50 day moving average price of $20.57 and a 200 day moving average price of $18.00. IMAX has a 1 year low of $13.20 and a 1 year high of $22.13. The company has a market capitalization of $1.03 billion, a price-to-earnings ratio of 41.50, a P/E/G ratio of 1.38 and a beta of 1.25.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of IMAX. Vanguard Group Inc. grew its holdings in shares of IMAX by 13.2% during the first quarter. Vanguard Group Inc. now owns 584,795 shares of the company's stock worth $9,456,000 after buying an additional 68,155 shares in the last quarter. GSA Capital Partners LLP bought a new position in shares of IMAX in the 1st quarter valued at about $1,070,000. Acadian Asset Management LLC increased its position in shares of IMAX by 178.7% in the first quarter. Acadian Asset Management LLC now owns 490,917 shares of the company's stock valued at $7,934,000 after acquiring an additional 314,742 shares during the last quarter. Principal Financial Group Inc. acquired a new position in shares of IMAX during the 1st quarter worth approximately $871,000. Finally, Victory Capital Management Inc. increased its stake in shares of IMAX by 33.1% during the 2nd quarter. Victory Capital Management Inc. now owns 1,293,221 shares of the company's stock worth $21,687,000 after purchasing an additional 321,506 shares during the last quarter. Institutional investors own 93.51% of the company's stock.

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.