IMAX Co. (NYSE:IMAX – Free Report) – Analysts at B. Riley upped their FY2023 earnings estimates for IMAX in a report released on Monday, September 11th. B. Riley analyst E. Wold now anticipates that the company will post earnings of $0.58 per share for the year, up from their previous forecast of $0.55. The consensus estimate for IMAX’s current full-year earnings is $0.49 per share. B. Riley also issued estimates for IMAX’s Q4 2023 earnings at $0.20 EPS.
A number of other brokerages also recently issued reports on IMAX. StockNews.com assumed coverage on IMAX in a report on Thursday, August 17th. They set a “buy” rating on the stock. Wedbush reiterated an “outperform” rating and set a $26.00 price objective on shares of IMAX in a research report on Thursday, July 27th. Barrington Research reiterated an “outperform” rating and set a $24.00 price objective on shares of IMAX in a research report on Friday, July 28th. Finally, Rosenblatt Securities upped their price objective on IMAX from $27.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, August 25th. One analyst has rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $22.75.
IMAX Price Performance
Shares of NYSE:IMAX opened at $18.61 on Tuesday. The company has a market cap of $1.02 billion, a P/E ratio of 232.63, a PEG ratio of 1.90 and a beta of 1.37. IMAX has a 1 year low of $12.13 and a 1 year high of $21.82. The stock’s fifty day moving average price is $18.32 and its 200-day moving average price is $18.55.
IMAX (NYSE:IMAX – Get Free Report) last issued its quarterly earnings results on Wednesday, July 26th. The company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.10. IMAX had a return on equity of 2.46% and a net margin of 1.27%. The company had revenue of $97.98 million for the quarter, compared to analysts’ expectations of $88.69 million.
Institutional Trading of IMAX
A number of institutional investors have recently made changes to their positions in the business. Macquarie Group Ltd. boosted its position in shares of IMAX by 16.8% in the 1st quarter. Macquarie Group Ltd. now owns 3,002,830 shares of the company’s stock worth $57,594,000 after purchasing an additional 431,231 shares in the last quarter. Invesco Ltd. lifted its position in IMAX by 2.2% during the 1st quarter. Invesco Ltd. now owns 2,217,169 shares of the company’s stock worth $41,971,000 after acquiring an additional 48,232 shares during the period. Millennium Management LLC lifted its position in IMAX by 21.3% during the 4th quarter. Millennium Management LLC now owns 2,194,019 shares of the company’s stock worth $32,164,000 after acquiring an additional 385,912 shares during the period. Alliancebernstein L.P. lifted its position in IMAX by 1.8% during the 4th quarter. Alliancebernstein L.P. now owns 2,018,885 shares of the company’s stock worth $29,597,000 after acquiring an additional 36,620 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in IMAX by 6.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,684,780 shares of the company’s stock worth $32,313,000 after acquiring an additional 107,989 shares during the period. Institutional investors and hedge funds own 75.18% of the company’s stock.
Insider Buying and Selling
In related news, EVP Calamera Pablo sold 3,516 shares of the firm’s stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $18.98, for a total transaction of $66,733.68. Following the completion of the sale, the executive vice president now directly owns 30,813 shares of the company’s stock, valued at approximately $584,830.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 24.33% of the stock is owned by corporate insiders.
IMAX Company Profile
IMAX Corporation, together with its subsidiaries, operates as a technology platform for entertainment and events worldwide. The company operates through three segments: IMAX Technology Network; IMAX Technology Sales and Maintenance; and Film Distribution and Post-Production. 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.
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