$81.20 Million in Sales Expected for IMAX Co. (NYSE:IMAX) This Quarter

Equities research analysts expect IMAX Co. (NYSE:IMAXGet Rating) to announce $81.20 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for IMAX’s earnings, with the highest sales estimate coming in at $86.08 million and the lowest estimate coming in at $77.92 million. IMAX reported sales of $50.96 million during the same quarter last year, which indicates a positive year-over-year growth rate of 59.3%. The company is scheduled to announce its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that IMAX will report full year sales of $334.36 million for the current financial year, with estimates ranging from $328.79 million to $340.47 million. For the next fiscal year, analysts anticipate that the business will report sales of $387.30 million, with estimates ranging from $382.00 million to $396.35 million. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for IMAX.

IMAX (NYSE:IMAXGet Rating) last posted its earnings results on Wednesday, February 23rd. The company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.15. The business had revenue of $108.57 million for the quarter, compared to analysts’ expectations of $87.16 million. IMAX had a negative return on equity of 5.49% and a negative net margin of 7.64%.

Several research analysts recently issued reports on IMAX shares. StockNews.com assumed coverage on IMAX in a research report on Thursday, March 31st. They set a “hold” rating for the company. TheStreet cut shares of IMAX from a “c” rating to a “d+” rating in a research report on Friday, April 29th. Barrington Research lowered their price objective on IMAX from $25.00 to $20.00 in a report on Monday, May 2nd. Finally, Benchmark reaffirmed a “buy” rating and set a $28.00 target price on shares of IMAX in a report on Thursday, February 24th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, IMAX currently has an average rating of “Buy” and an average target price of $23.95.

Shares of IMAX opened at $15.83 on Friday. The stock’s 50 day moving average is $17.59 and its two-hundred day moving average is $18.34. The firm has a market capitalization of $926.37 million, a PE ratio of -43.97, a P/E/G ratio of 5.72 and a beta of 1.47. IMAX has a twelve month low of $13.60 and a twelve month high of $23.57.

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

Several large investors have recently modified their holdings of IMAX. Point72 Hong Kong Ltd acquired a new position in IMAX in the 4th quarter valued at about $29,000. Harbor Investment Advisory LLC acquired a new position in IMAX in the 1st quarter valued at about $32,000. National Bank of Canada FI acquired a new position in IMAX in the 4th quarter valued at about $46,000. Victory Capital Management Inc. purchased a new position in shares of IMAX in the 3rd quarter valued at about $179,000. Finally, Bridgefront Capital LLC purchased a new position in shares of IMAX in the 4th quarter valued at about $180,000. 91.17% of the stock is owned by hedge funds and other institutional investors.

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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Earnings History and Estimates for IMAX (NYSE:IMAX)

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