Research Analysts Set Expectations for IMAX FY2024 Earnings

IMAX Co. (NYSE:IMAX - Free Report) - Seaport Res Ptn lowered their FY2024 earnings per share estimates for IMAX in a research note issued on Thursday, January 9th. Seaport Res Ptn analyst D. Joyce now expects that the company will earn $0.75 per share for the year, down from their previous estimate of $0.79. The consensus estimate for IMAX's current full-year earnings is $0.77 per share. Seaport Res Ptn also issued estimates for IMAX's Q4 2024 earnings at $0.30 EPS, Q1 2025 earnings at $0.19 EPS, Q3 2025 earnings at $0.34 EPS, FY2025 earnings at $1.22 EPS and FY2026 earnings at $1.53 EPS.

IMAX (NYSE:IMAX - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.35 earnings per share for the quarter, topping analysts' consensus estimates of $0.23 by $0.12. The business had revenue of $91.50 million during the quarter, compared to analysts' expectations of $93.71 million. IMAX had a return on equity of 7.53% and a net margin of 6.74%. During the same period in the prior year, the business posted $0.27 EPS. The company's revenue was down 11.9% compared to the same quarter last year.

A number of other equities analysts have also recently weighed in on the stock. StockNews.com raised shares of IMAX from a "hold" rating to a "buy" rating in a research report on Thursday, January 2nd. Barrington Research restated an "outperform" rating and set a $30.00 price target on shares of IMAX in a research report on Friday. Benchmark reaffirmed a "buy" rating and issued a $30.00 price objective on shares of IMAX in a research note on Friday. Roth Mkm increased their target price on IMAX from $27.00 to $28.00 and gave the stock a "buy" rating in a research note on Thursday, October 31st. Finally, Wedbush reaffirmed an "outperform" rating on shares of IMAX in a research report on Wednesday, November 27th. One equities research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, IMAX has a consensus rating of "Buy" and an average price target of $27.38.

IMAX Stock Down 1.6 %

IMAX stock traded down $0.36 during mid-day trading on Monday, hitting $22.71. 157,043 shares of the company were exchanged, compared to its average volume of 543,115. The business has a fifty day simple moving average of $25.03 and a 200-day simple moving average of $21.70. The firm has a market capitalization of $1.20 billion, a P/E ratio of 51.61, a PEG ratio of 1.69 and a beta of 1.24. IMAX has a 12-month low of $13.20 and a 12-month high of $26.84.

Institutional Trading of IMAX

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IMAX. Headlands Technologies LLC purchased a new position in shares of IMAX during the second quarter worth about $35,000. American Century Companies Inc. grew its position in shares of IMAX by 57.0% during the second quarter. American Century Companies Inc. now owns 120,021 shares of the company's stock worth $2,013,000 after acquiring an additional 43,584 shares during the last quarter. XTX Topco Ltd acquired a new position in shares of IMAX in the 2nd quarter valued at $208,000. Thrivent Financial for Lutherans raised its position in IMAX by 5.5% in the 2nd quarter. Thrivent Financial for Lutherans now owns 819,325 shares of the company's stock valued at $13,740,000 after purchasing an additional 42,952 shares during the last quarter. Finally, Lombard Odier Asset Management USA Corp purchased a new stake in IMAX in the 2nd quarter valued at $300,000. Institutional investors and hedge funds own 93.51% of the company's stock.

Insiders Place Their Bets

In other news, CFO Natasha Fernandes sold 2,957 shares of the firm's stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $25.52, for a total transaction of $75,462.64. Following the sale, the chief financial officer now owns 14,883 shares of the company's stock, valued at approximately $379,814.16. This trade represents a 16.58 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kenneth Ian Weissman sold 6,309 shares of the business's stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $25.51, for a total value of $160,942.59. Following the sale, the insider now owns 25,139 shares of the company's stock, valued at approximately $641,295.89. The trade was a 20.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 65,176 shares of company stock worth $1,662,110 in the last quarter. 24.08% of the stock is owned by company insiders.

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.