IMAX Co. Expected to Earn Q1 2024 Earnings of $0.07 Per Share (NYSE:IMAX)

IMAX Co. (NYSE:IMAX) – Research analysts at Roth Capital dropped their Q1 2024 EPS estimates for shares of IMAX in a report issued on Wednesday, April 10th. Roth Capital analyst E. Handler now expects that the company will post earnings per share of $0.07 for the quarter, down from their prior estimate of $0.10. The consensus estimate for IMAX’s current full-year earnings is $0.58 per share.

A number of other equities research analysts also recently issued reports on IMAX. B. Riley reduced their price target on shares of IMAX from $27.00 to $21.00 and set a “buy” rating for the company in a research report on Tuesday, January 2nd. StockNews.com downgraded IMAX from a “buy” rating to a “hold” rating in a research report on Saturday, January 27th. Barrington Research restated an “outperform” rating and set a $24.00 price objective on shares of IMAX in a research report on Wednesday, February 28th. Rosenblatt Securities cut their price objective on IMAX from $30.00 to $25.00 and set a “buy” rating for the company in a research report on Tuesday, February 13th. Finally, JPMorgan Chase & Co. cut their price objective on IMAX from $20.00 to $17.00 and set a “neutral” rating for the company in a research report on Tuesday, February 6th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $20.57.

IMAX Trading Down 1.5 %

IMAX stock opened at $16.47 on Friday. The firm has a 50 day moving average of $15.81 and a 200-day moving average of $16.23. IMAX has a 12-month low of $13.20 and a 12-month high of $21.82. The company has a market cap of $872.09 million, a price-to-earnings ratio of 35.80, a PEG ratio of 1.44 and a beta of 1.25.

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. grew its stake in shares of IMAX by 4.0% during the 1st quarter. JPMorgan Chase & Co. now owns 706,135 shares of the company’s stock valued at $13,367,000 after buying an additional 27,207 shares during the period. HighTower Advisors LLC purchased a new stake in shares of IMAX during the 1st quarter valued at $229,000. Citigroup Inc. grew its stake in shares of IMAX by 40.9% during the 1st quarter. Citigroup Inc. now owns 66,264 shares of the company’s stock valued at $1,254,000 after buying an additional 19,226 shares during the period. MetLife Investment Management LLC grew its stake in shares of IMAX by 53.9% during the 1st quarter. MetLife Investment Management LLC now owns 27,896 shares of the company’s stock valued at $528,000 after buying an additional 9,767 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in shares of IMAX by 0.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,039,779 shares of the company’s stock valued at $19,684,000 after buying an additional 6,605 shares during the period. 93.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at IMAX

In other IMAX news, VP Robert D. Lister sold 25,000 shares of the business’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $16.87, for a total value of $421,750.00. Following the completion of the transaction, the vice president now directly owns 138,889 shares in the company, valued at approximately $2,343,057.43. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 24.33% of the stock is currently owned by insiders.

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.