Q1 2022 Earnings Forecast for IMAX Co. Issued By B. Riley (NYSE:IMAX)

IMAX Co. (NYSE:IMAXGet Rating) – Equities researchers at B. Riley lowered their Q1 2022 earnings estimates for IMAX in a report issued on Wednesday, April 27th. B. Riley analyst E. Wold now forecasts that the company will post earnings per share of ($0.14) for the quarter, down from their prior forecast of ($0.08). B. Riley also issued estimates for IMAX’s FY2022 earnings at $0.30 EPS.

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

Several other equities research analysts have also commented on IMAX. Benchmark reissued a “buy” rating and set a $28.00 price target on shares of IMAX in a research note on Thursday, February 24th. StockNews.com assumed coverage on IMAX in a research note on Thursday, March 31st. They issued a “hold” rating for the company. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, IMAX presently has a consensus rating of “Buy” and an average target price of $24.86.

IMAX stock opened at $14.98 on Friday. The firm has a market capitalization of $877.45 million, a price-to-earnings ratio of -39.42, a PEG ratio of 3.67 and a beta of 1.46. IMAX has a fifty-two week low of $13.60 and a fifty-two week high of $23.57. The company’s 50 day moving average price is $18.10 and its 200 day moving average price is $18.54.

Hedge funds have recently modified their holdings of the business. First Trust Advisors LP grew its position in shares of IMAX by 73.0% in the first quarter. First Trust Advisors LP now owns 38,383 shares of the company’s stock valued at $871,000 after purchasing an additional 16,201 shares during the last quarter. SG Americas Securities LLC acquired a new position in IMAX in the 3rd quarter valued at $566,000. Victory Capital Management Inc. acquired a new position in IMAX in the 3rd quarter valued at $179,000. Mission Wealth Management LP increased its position in IMAX by 3.8% during the 3rd quarter. Mission Wealth Management LP now owns 35,076 shares of the company’s stock worth $666,000 after buying an additional 1,296 shares during the period. Finally, Swiss National Bank lifted its holdings in shares of IMAX by 1.1% during the third quarter. Swiss National Bank now owns 111,500 shares of the company’s stock worth $2,116,000 after buying an additional 1,200 shares in the last quarter. Hedge funds and other institutional investors own 90.28% of the company’s stock.

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

About IMAX (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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Earnings History and Estimates for IMAX (NYSE:IMAX)

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