IMAX Co. (NYSE:IMAX) Expected to Announce Earnings of -$0.04 Per Share

Brokerages forecast that IMAX Co. (NYSE:IMAX – Get Rating) will report earnings per share of ($0.04) for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for IMAX’s earnings, with the lowest EPS estimate coming in at ($0.12) and the highest estimate coming in at $0.02. IMAX reported earnings of ($0.25) per share during the same quarter last year, which would suggest a positive year over year growth rate of 84%. The business is scheduled to report its next earnings results after the market closes on Monday, January 1st.

According to Zacks, analysts expect that IMAX will report full year earnings of $0.60 per share for the current year, with EPS estimates ranging from $0.40 to $0.76. For the next fiscal year, analysts anticipate that the firm will post earnings of $0.88 per share, with EPS estimates ranging from $0.67 to $1.14. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that that provide coverage for IMAX.

IMAX (NYSE:IMAX – Get Rating) last released its earnings results on Wednesday, February 23rd. The company reported $0.21 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.15. The firm had revenue of $108.57 million during the quarter, compared to analysts’ expectations of $87.16 million. IMAX had a negative return on equity of 7.10% and a negative net margin of 8.76%.

A number of equities analysts have weighed in on the company. StockNews.com assumed coverage on IMAX in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Benchmark restated a “buy” rating and set a $28.00 price objective on shares of IMAX in a report on Thursday, February 24th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $24.86.

In related news, EVP Jacqueline Bassani sold 6,000 shares of the stock in a transaction on Wednesday, March 16th. The stock was sold at an average price of $18.13, for a total value of $108,780.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 23.20% of the stock is currently owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in the company. Victory Capital Management Inc. bought a new position in IMAX in the 3rd quarter valued at about $179,000. Captrust Financial Advisors increased its stake in IMAX by 4.0% in the 3rd quarter. Captrust Financial Advisors now owns 67,190 shares of the company’s stock valued at $1,275,000 after buying an additional 2,615 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in IMAX by 49.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,831,294 shares of the company’s stock valued at $34,758,000 after buying an additional 602,434 shares during the last quarter. Barclays PLC increased its stake in IMAX by 95.8% in the 3rd quarter. Barclays PLC now owns 25,839 shares of the company’s stock valued at $490,000 after buying an additional 12,641 shares during the last quarter. Finally, ING Groep NV purchased a new stake in shares of IMAX during the 3rd quarter worth approximately $949,000. 90.28% of the stock is currently owned by institutional investors.

Shares of NYSE IMAX opened at $16.84 on Friday. The stock has a market capitalization of $986.49 million, a price-to-earnings ratio of -44.32, a PEG ratio of 3.87 and a beta of 1.46. The business has a 50-day moving average of $18.81 and a 200-day moving average of $18.81. IMAX has a fifty-two week low of $13.60 and a fifty-two week high of $23.57.

IMAX Company Profile (Get Rating)

IMAX Corporation, together with its subsidiaries, operates as an entertainment technology company worldwide. It offers cinematic solution through proprietary software, theater architecture, intellectual property, and specialized equipment. The company offers IMAX Digital Re-Mastering (DMR), a proprietary technology that digitally enhances the image resolution, visual clarity, and sound quality of motion picture films for projection on IMAX screens; IMAX theater systems to exhibitor customers through sales, leases, and joint revenue sharing arrangements; and digital projection systems.

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