Analysts Set Expectations for IMAX Co.’s Q1 2024 Earnings (NYSE:IMAX)

IMAX Co. (NYSE:IMAX) – Research analysts at Barrington Research issued their Q1 2024 earnings per share estimates for shares of IMAX in a report issued on Monday, April 22nd. Barrington Research analyst J. Goss forecasts that the company will post earnings per share of $0.06 for the quarter. Barrington Research currently has a “Outperform” rating and a $24.00 target price on the stock. The consensus estimate for IMAX’s current full-year earnings is $0.57 per share. Barrington Research also issued estimates for IMAX’s Q1 2025 earnings at $0.03 EPS.

A number of other brokerages have also recently weighed in on IMAX. Rosenblatt Securities decreased their price objective on IMAX from $30.00 to $25.00 and set a “buy” rating on the stock in a report on Tuesday, February 13th. Benchmark reaffirmed a “buy” rating and issued a $22.00 price target on shares of IMAX in a research note on Tuesday, April 16th. JPMorgan Chase & Co. reduced their target price on IMAX from $20.00 to $17.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 6th. B. Riley reduced their target price on IMAX from $27.00 to $21.00 and set a “buy” rating on the stock in a research note on Tuesday, January 2nd. Finally, StockNews.com cut IMAX from a “buy” rating to a “hold” rating in a research note on Saturday, January 27th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, IMAX currently has a consensus rating of “Moderate Buy” and an average price target of $20.57.

IMAX Trading Down 1.1 %

Shares of IMAX opened at $17.46 on Thursday. The company has a market cap of $924.52 million, a PE ratio of 37.96, a price-to-earnings-growth ratio of 1.53 and a beta of 1.25. The stock has a 50-day moving average price of $16.31 and a 200-day moving average price of $16.09. IMAX has a 12-month low of $13.20 and a 12-month high of $21.82.

IMAX (NYSE:IMAX) last announced its quarterly earnings data on Tuesday, February 27th. The company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.12. IMAX had a return on equity of 9.59% and a net margin of 6.76%. The company had revenue of $86.02 million during the quarter, compared to analyst estimates of $85.83 million. During the same quarter last year, the firm posted $0.05 EPS. The firm’s revenue for the quarter was down 12.3% on a year-over-year basis.

Institutional Investors Weigh In On IMAX

Hedge funds and other institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP grew its stake in IMAX by 0.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,454,524 shares of the company’s stock worth $21,847,000 after buying an additional 10,358 shares during the last quarter. Private Capital Management LLC boosted its stake in shares of IMAX by 54.3% in the fourth quarter. Private Capital Management LLC now owns 1,185,715 shares of the company’s stock worth $17,809,000 after buying an additional 417,169 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of IMAX by 13.0% in the fourth quarter. Victory Capital Management Inc. now owns 825,319 shares of the company’s stock worth $12,396,000 after buying an additional 95,182 shares during the last quarter. Alpine Woods Capital Investors LLC boosted its stake in shares of IMAX by 33.8% in the third quarter. Alpine Woods Capital Investors LLC now owns 392,278 shares of the company’s stock worth $7,579,000 after buying an additional 99,163 shares during the last quarter. Finally, Mizuho Markets Americas LLC purchased a new stake in shares of IMAX in the third quarter worth about $7,118,000. 93.51% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, VP Robert D. Lister sold 25,000 shares of the stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $16.87, for a total transaction of $421,750.00. Following the completion of 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 filing with the SEC, which is available through this link. Company insiders own 24.33% of the company’s stock.

About IMAX

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.