IMAX Co. (NYSE:IMAX - Free Report) - Investment analysts at Wedbush decreased their FY2024 earnings estimates for shares of IMAX in a research note issued to investors on Wednesday, February 12th. Wedbush analyst A. Reese now anticipates that the company will post earnings per share of $0.66 for the year, down from their previous forecast of $0.78. Wedbush currently has a "Outperform" rating and a $32.00 target price on the stock. The consensus estimate for IMAX's current full-year earnings is $0.66 per share. Wedbush also issued estimates for IMAX's Q4 2024 earnings at $0.21 EPS, Q2 2025 earnings at $0.10 EPS, FY2025 earnings at $0.92 EPS and FY2026 earnings at $1.11 EPS.
A number of other research firms have also weighed in on IMAX. Rosenblatt Securities reiterated a "buy" rating and issued a $28.00 price objective on shares of IMAX in a research note on Thursday, January 16th. Benchmark reiterated a "buy" rating and issued a $30.00 price objective on shares of IMAX in a research note on Friday, January 17th. StockNews.com lowered shares of IMAX from a "buy" rating to a "hold" rating in a research note on Thursday, February 13th. Barrington Research restated an "outperform" rating and set a $30.00 price target on shares of IMAX in a research report on Friday, January 10th. Finally, Roth Mkm boosted their price target on shares of IMAX from $27.00 to $28.00 and gave the company a "buy" rating in a research report on Thursday, October 31st. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, IMAX currently has a consensus rating of "Moderate Buy" and a consensus target price of $28.63.
Read Our Latest Stock Analysis on IMAX
IMAX Stock Performance
IMAX stock traded up $0.04 during mid-day trading on Friday, reaching $27.01. The company's stock had a trading volume of 1,065,382 shares, compared to its average volume of 660,570. IMAX has a 12-month low of $14.90 and a 12-month high of $27.38. The company has a market capitalization of $1.42 billion, a P/E ratio of 61.38, a PEG ratio of 1.40 and a beta of 1.22. The firm's fifty day moving average price is $24.60 and its two-hundred day moving average price is $22.90.
Insider Transactions at IMAX
In other news, EVP Robert D. Lister sold 55,910 shares of IMAX stock in a transaction on Monday, December 9th. The shares were sold at an average price of $25.50, for a total transaction of $1,425,705.00. Following the completion of the sale, the executive vice president now directly owns 138,889 shares of the company's stock, valued at approximately $3,541,669.50. The trade was a 28.70 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Natasha Fernandes sold 2,957 shares of the business's stock in a transaction on Monday, December 9th. The stock was sold at an average price of $25.52, for a total transaction of $75,462.64. Following the completion of the sale, the chief financial officer now directly owns 14,883 shares of the company's stock, valued at $379,814.16. This represents a 16.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 65,176 shares of company stock valued at $1,662,110. Insiders own 24.08% of the company's stock.
Institutional Trading of IMAX
Several hedge funds have recently added to or reduced their stakes in IMAX. Blue Trust Inc. lifted its stake in IMAX by 138.5% in the fourth quarter. Blue Trust Inc. now owns 966 shares of the company's stock worth $25,000 after purchasing an additional 561 shares during the last quarter. Huntington National Bank bought a new stake in IMAX in the third quarter worth $34,000. Quarry LP lifted its stake in IMAX by 78,333.3% in the third quarter. Quarry LP now owns 2,353 shares of the company's stock worth $48,000 after purchasing an additional 2,350 shares during the last quarter. nVerses Capital LLC bought a new stake in IMAX in the third quarter worth $70,000. Finally, US Bancorp DE increased its position in shares of IMAX by 23.4% in the third quarter. US Bancorp DE now owns 7,656 shares of the company's stock valued at $157,000 after acquiring an additional 1,452 shares during the period. 93.51% of the stock is owned by institutional investors.
About IMAX
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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.
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