Zacks Research Issues Pessimistic Estimate for IMAX Earnings

IMAX Co. (NYSE:IMAX - Free Report) - Analysts at Zacks Research lowered their Q4 2024 earnings per share (EPS) estimates for shares of IMAX in a research report issued to clients and investors on Wednesday, November 20th. Zacks Research analyst R. Department now anticipates that the company will post earnings of $0.27 per share for the quarter, down from their prior forecast of $0.28. The consensus estimate for IMAX's current full-year earnings is $0.76 per share. Zacks Research also issued estimates for IMAX's Q1 2025 earnings at $0.10 EPS, Q2 2025 earnings at $0.10 EPS, Q3 2025 earnings at $0.19 EPS and Q3 2026 earnings at $0.18 EPS.

IMAX has been the subject of several other reports. Rosenblatt Securities restated a "buy" rating and issued a $28.00 price objective on shares of IMAX in a research note on Thursday, October 31st. Barrington Research reiterated an "outperform" rating and issued a $24.00 price target on shares of IMAX in a research note on Thursday, October 31st. Roth Mkm increased their price target on IMAX from $27.00 to $28.00 and gave the stock a "buy" rating in a research note on Thursday, October 31st. Macquarie increased their price target on IMAX from $24.00 to $26.00 and gave the stock an "outperform" rating in a research note on Friday, July 26th. Finally, Wedbush increased their price target on IMAX from $24.00 to $26.00 and gave the stock an "outperform" rating in a research note on Tuesday, September 3rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, IMAX has an average rating of "Moderate Buy" and an average target price of $24.22.

IMAX Stock Up 1.9 %

IMAX traded up $0.48 during mid-day trading on Friday, reaching $25.19. 620,289 shares of the company traded hands, compared to its average volume of 760,864. The stock has a market capitalization of $1.33 billion, a P/E ratio of 55.90, a P/E/G ratio of 1.63 and a beta of 1.22. IMAX has a 52-week low of $13.20 and a 52-week high of $25.51. The company's fifty day moving average price is $21.68 and its 200-day moving average price is $19.43.

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. FMR LLC lifted its holdings in shares of IMAX by 108.4% in the 3rd quarter. FMR LLC now owns 3,949,643 shares of the company's stock valued at $81,007,000 after acquiring an additional 2,054,031 shares during the last quarter. Royce & Associates LP lifted its stake in IMAX by 3.1% in the third quarter. Royce & Associates LP now owns 1,822,616 shares of the company's stock worth $37,382,000 after purchasing an additional 54,850 shares during the last quarter. Victory Capital Management Inc. lifted its stake in IMAX by 9.8% in the third quarter. Victory Capital Management Inc. now owns 1,420,592 shares of the company's stock worth $29,136,000 after purchasing an additional 127,371 shares during the last quarter. Private Capital Management LLC lifted its stake in IMAX by 10.0% in the first quarter. Private Capital Management LLC now owns 1,304,364 shares of the company's stock worth $21,092,000 after purchasing an additional 118,649 shares during the last quarter. Finally, Thrivent Financial for Lutherans lifted its stake in IMAX by 5.5% in the second quarter. Thrivent Financial for Lutherans now owns 819,325 shares of the company's stock worth $13,740,000 after purchasing an additional 42,952 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.