IMAX (IMAX) to Release Quarterly Earnings on Thursday

IMAX (NYSE:IMAX) will be releasing its earnings data before the market opens on Thursday, April 25th. Analysts expect IMAX to post earnings of $0.08 per share for the quarter. Investors that wish to register for the company’s conference call can do so using this link.

IMAX (NYSE:IMAX) last released its earnings results on Tuesday, February 27th. The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.12. The firm had revenue of $86.02 million during the quarter, compared to analysts’ expectations of $85.83 million. IMAX had a return on equity of 9.59% and a net margin of 6.76%. The company’s revenue was down 12.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.05 EPS. On average, analysts expect IMAX to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

IMAX Trading Up 1.2 %

IMAX stock opened at $17.08 on Thursday. The stock has a 50-day moving average price of $16.00 and a two-hundred day moving average price of $16.16. The stock has a market cap of $904.39 million, a PE ratio of 37.13, a price-to-earnings-growth ratio of 1.42 and a beta of 1.25. IMAX has a 1 year low of $13.20 and a 1 year high of $21.82.

Analyst Upgrades and Downgrades

IMAX has been the subject of several analyst reports. Benchmark restated a “buy” rating and issued a $22.00 price objective on shares of IMAX in a report on Tuesday. StockNews.com cut IMAX from a “buy” rating to a “hold” rating in a report on Saturday, January 27th. Wedbush restated an “outperform” rating and issued a $22.00 price objective on shares of IMAX in a report on Wednesday, April 10th. JPMorgan Chase & Co. decreased their price objective on IMAX from $20.00 to $17.00 and set a “neutral” rating for the company in a report on Tuesday, February 6th. Finally, The Goldman Sachs Group decreased their price objective on IMAX from $15.00 to $13.00 and set a “sell” rating for the company in a report on Thursday, January 11th. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, IMAX presently has an average rating of “Moderate Buy” and a consensus target price of $20.57.

Insider Transactions at IMAX

In other news, VP Robert D. Lister sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $16.87, for a total transaction of $421,750.00. Following the transaction, the vice president now directly owns 138,889 shares of the company’s stock, valued at $2,343,057.43. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 24.33% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its stake in shares of IMAX by 4.0% during the first quarter. JPMorgan Chase & Co. now owns 706,135 shares of the company’s stock worth $13,367,000 after buying an additional 27,207 shares during the last quarter. HighTower Advisors LLC bought a new stake in shares of IMAX during the first quarter worth $229,000. Citigroup Inc. grew its stake in shares of IMAX by 40.9% during the first quarter. Citigroup Inc. now owns 66,264 shares of the company’s stock worth $1,254,000 after buying an additional 19,226 shares during the last quarter. MetLife Investment Management LLC grew its stake in shares of IMAX by 53.9% during the first quarter. MetLife Investment Management LLC now owns 27,896 shares of the company’s stock worth $528,000 after buying an additional 9,767 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of IMAX by 0.6% during the first quarter. Dimensional Fund Advisors LP now owns 1,039,779 shares of the company’s stock worth $19,684,000 after buying an additional 6,605 shares during the last quarter. 93.51% of the stock is owned by institutional investors.

IMAX Company Profile

IMAX Corporation, together with its subsidiaries, operates as a technology platform for entertainment and events worldwide. The company operates in two segments, Content Solutions and Technology Products and Services. 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.