FY2024 EPS Estimates for IMAX Co. (NYSE:IMAX) Decreased by Analyst

IMAX Co. (NYSE:IMAX - Free Report) - Equities researchers at Roth Capital cut their FY2024 EPS estimates for IMAX in a report released on Thursday, October 10th. Roth Capital analyst E. Handler now anticipates that the company will post earnings of $0.68 per share for the year, down from their prior estimate of $0.70. The consensus estimate for IMAX's current full-year earnings is $0.69 per share. Roth Capital also issued estimates for IMAX's FY2026 earnings at $1.13 EPS.

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

Other analysts have also issued research reports about the stock. Seaport Res Ptn raised shares of IMAX to a "strong-buy" rating in a report on Wednesday, July 24th. B. Riley lifted their target price on shares of IMAX from $27.00 to $30.00 and gave the stock a "buy" rating in a report on Monday, July 8th. Wedbush lifted their target price on shares of IMAX from $24.00 to $26.00 and gave the stock an "outperform" rating in a report on Tuesday, September 3rd. Benchmark reaffirmed a "buy" rating and set a $22.00 target price on shares of IMAX in a report on Thursday, June 20th. Finally, Roth Mkm reaffirmed a "buy" rating and set a $27.00 target price on shares of IMAX in a report on Thursday. One analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $24.11.

IMAX Trading Down 2.0 %

Shares of IMAX stock traded down $0.44 during midday trading on Monday, reaching $21.25. The company had a trading volume of 655,206 shares, compared to its average volume of 775,902. The company has a market capitalization of $1.12 billion, a price-to-earnings ratio of 44.27, a price-to-earnings-growth ratio of 1.41 and a beta of 1.25. The stock has a fifty day simple moving average of $20.49 and a 200 day simple moving average of $18.24. IMAX has a 1-year low of $13.20 and a 1-year high of $22.13.

Hedge Funds Weigh In On IMAX

Several large investors have recently modified their holdings of IMAX. Private Capital Management LLC lifted its stake in shares of IMAX by 10.0% during the 1st quarter. Private Capital Management LLC now owns 1,304,364 shares of the company's stock valued at $21,092,000 after buying an additional 118,649 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of IMAX by 33.1% in the 2nd quarter. Victory Capital Management Inc. now owns 1,293,221 shares of the company's stock worth $21,687,000 after buying an additional 321,506 shares during the last quarter. Thrivent Financial for Lutherans increased its holdings in shares of IMAX by 5.5% in the 2nd quarter. Thrivent Financial for Lutherans now owns 819,325 shares of the company's stock worth $13,740,000 after buying an additional 42,952 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of IMAX by 90.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 587,694 shares of the company's stock worth $9,856,000 after buying an additional 279,410 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of IMAX by 13.2% in the 1st 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 during the last quarter. Institutional investors own 93.51% of the company's stock.

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.