IMAX Co. (NYSE:IMAX - Free Report) - Investment analysts at Seaport Res Ptn reduced their FY2024 EPS estimates for IMAX in a research report issued to clients and investors on Monday, December 9th. Seaport Res Ptn analyst D. Joyce now forecasts that the company will earn $0.79 per share for the year, down from their previous forecast of $0.80. 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 $0.34 EPS, Q1 2025 earnings at $0.20 EPS and Q2 2025 earnings at $0.22 EPS.
IMAX (NYSE:IMAX - Get Free Report) last posted its earnings results on Wednesday, October 30th. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.23 by $0.12. The firm had revenue of $91.50 million for the quarter, compared to analyst estimates of $93.71 million. IMAX had a return on equity of 7.53% and a net margin of 6.74%. IMAX's revenue was down 11.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.27 EPS.
A number of other research firms have also issued reports on IMAX. Rosenblatt Securities restated a "buy" rating and issued a $28.00 target price on shares of IMAX in a report on Thursday, October 31st. JPMorgan Chase & Co. raised their target price on shares of IMAX from $20.00 to $21.00 and gave the stock a "neutral" rating in a research report on Monday, October 14th. Barrington Research reaffirmed an "outperform" rating and issued a $24.00 target price on shares of IMAX in a research note on Thursday, October 31st. StockNews.com lowered IMAX from a "buy" rating to a "hold" rating in a research note on Tuesday. Finally, Roth Mkm upped their target price on IMAX from $27.00 to $28.00 and gave the company a "buy" rating in a research note on Thursday, October 31st. One analyst has rated the stock with a sell rating, two have given 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, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $24.22.
View Our Latest Stock Report on IMAX
IMAX Trading Down 0.5 %
Shares of NYSE:IMAX traded down $0.13 on Thursday, hitting $25.84. The company had a trading volume of 547,267 shares, compared to its average volume of 750,291. The company has a market cap of $1.36 billion, a PE ratio of 58.72, a PEG ratio of 1.68 and a beta of 1.23. IMAX has a 52-week low of $13.20 and a 52-week high of $26.84. The business has a 50 day moving average of $23.39 and a 200 day moving average of $20.36.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Huntington National Bank acquired a new stake in shares of IMAX in the third quarter valued at about $34,000. Headlands Technologies LLC purchased a new position in IMAX in the 2nd quarter worth approximately $35,000. Quarry LP grew its position in IMAX by 78,333.3% in the third quarter. Quarry LP now owns 2,353 shares of the company's stock valued at $48,000 after acquiring an additional 2,350 shares in the last quarter. nVerses Capital LLC purchased a new stake in shares of IMAX during the third quarter valued at approximately $70,000. Finally, Summit Securities Group LLC acquired a new position in shares of IMAX during the second quarter worth $80,000. Institutional investors and hedge funds own 93.51% of the company's stock.
Insiders Place Their Bets
In related 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 transaction, the executive vice president now owns 138,889 shares in the company, 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 can be accessed through this link. Also, insider Kenneth Ian Weissman sold 6,309 shares of the company's stock in a transaction on Monday, December 9th. The stock was sold at an average price of $25.51, for a total transaction of $160,942.59. Following the sale, the insider now directly owns 25,139 shares of the company's stock, valued at approximately $641,295.89. This trade represents a 20.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 65,176 shares of company stock worth $1,662,110 over the last three months. 24.08% of the stock is owned by insiders.
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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