IMAX (NYSE:IMAX) Releases Quarterly Earnings Results, Misses Estimates By $0.10 EPS

IMAX (NYSE:IMAXGet Rating) released its earnings results on Thursday. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.10), MarketWatch Earnings reports. IMAX had a negative return on equity of 7.10% and a negative net margin of 8.76%. The company had revenue of $60.04 million during the quarter, compared to analysts’ expectations of $59.02 million. During the same period last year, the firm posted ($0.34) EPS. IMAX’s quarterly revenue was up 54.9% compared to the same quarter last year.

IMAX traded up $0.84 during trading hours on Friday, hitting $15.82. The company’s stock had a trading volume of 1,969,099 shares, compared to its average volume of 573,448. The business’s 50-day moving average price is $18.01 and its 200-day moving average price is $18.50. IMAX has a 12 month low of $13.60 and a 12 month high of $23.57. The stock has a market cap of $926.74 million, a price-to-earnings ratio of -43.94, a P/E/G ratio of 3.02 and a beta of 1.46.

Several research firms have recently commented on IMAX. Benchmark reissued a “buy” rating and issued a $28.00 target price on shares of IMAX in a report on Thursday, February 24th. StockNews.com began coverage on shares of IMAX in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, Barrington Research reissued a “buy” rating and issued a $25.00 target price on shares of IMAX in a report on Friday. One investment 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’s stock. According to data from MarketBeat.com, IMAX has an average rating of “Buy” and an average price target of $24.86.

In other IMAX news, EVP Jacqueline Bassani sold 6,000 shares of the business’s stock in a transaction on Wednesday, March 16th. The shares were sold at an average price of $18.13, for a total transaction of $108,780.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 23.20% of the company’s stock.

A number of hedge funds have recently bought and sold shares of IMAX. Millennium Management LLC purchased a new stake in shares of IMAX during the fourth quarter valued at $6,731,000. Deutsche Bank AG boosted its stake in shares of IMAX by 51.3% during the fourth quarter. Deutsche Bank AG now owns 305,323 shares of the company’s stock valued at $5,447,000 after purchasing an additional 103,503 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of IMAX by 23.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 251,122 shares of the company’s stock valued at $4,481,000 after purchasing an additional 47,361 shares during the period. Sei Investments Co. purchased a new stake in shares of IMAX during the fourth quarter valued at $3,020,000. Finally, California State Teachers Retirement System boosted its stake in shares of IMAX by 1.9% during the fourth quarter. California State Teachers Retirement System now owns 69,365 shares of the company’s stock valued at $1,237,000 after purchasing an additional 1,266 shares during the period. Institutional investors and hedge funds own 90.28% of the company’s stock.

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.

Further Reading

Earnings History for IMAX (NYSE:IMAX)

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