Brokerages Anticipate Imax Corp (IMAX) Will Announce Earnings of $0.28 Per Share

Wall Street brokerages forecast that Imax Corp (NYSE:IMAX) will announce earnings per share of $0.28 for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Imax’s earnings. The highest EPS estimate is $0.33 and the lowest is $0.24. Imax reported earnings per share of $0.34 during the same quarter last year, which indicates a negative year over year growth rate of 17.6%. The company is scheduled to report its next earnings report on Tuesday, February 26th.

On average, analysts expect that Imax will report full-year earnings of $0.93 per share for the current year, with EPS estimates ranging from $0.89 to $0.97. For the next financial year, analysts expect that the firm will report earnings of $1.12 per share, with EPS estimates ranging from $1.02 to $1.23. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research analysts that follow Imax.

Imax (NYSE:IMAX) last released its quarterly earnings results on Thursday, October 25th. The company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.10. Imax had a net margin of 6.64% and a return on equity of 6.87%. The business had revenue of $82.11 million during the quarter, compared to the consensus estimate of $80.26 million.

Several equities analysts recently issued reports on IMAX shares. Canaccord Genuity reduced their price objective on Imax from $26.00 to $23.00 and set a “buy” rating on the stock in a research note on Friday, October 26th. Wedbush set a $32.00 price objective on Imax and gave the stock a “buy” rating in a research note on Thursday, July 26th. ValuEngine cut Imax from a “hold” rating to a “sell” rating in a research note on Thursday, November 1st. Zacks Investment Research cut Imax from a “buy” rating to a “hold” rating in a research note on Monday, October 1st. Finally, Barrington Research reduced their price objective on Imax to $27.00 and set an “outperform” rating on the stock in a research note on Monday, October 29th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. Imax has an average rating of “Buy” and an average target price of $26.72.

Shares of IMAX stock traded down $0.29 during mid-day trading on Wednesday, reaching $19.23. 27,769 shares of the company were exchanged, compared to its average volume of 823,573. Imax has a fifty-two week low of $18.85 and a fifty-two week high of $26.70. The company has a market capitalization of $1.22 billion, a P/E ratio of 106.22, a PEG ratio of 1.62 and a beta of 1.20.

In other Imax news, CEO Greg Foster sold 9,415 shares of the firm’s stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $23.46, for a total value of $220,875.90. Following the sale, the chief executive officer now directly owns 86,960 shares in the company, valued at $2,040,081.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 18.70% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. Macquarie Group Ltd. acquired a new position in shares of Imax during the third quarter valued at $113,000. Point72 Hong Kong Ltd increased its holdings in shares of Imax by 185.5% during the third quarter. Point72 Hong Kong Ltd now owns 5,921 shares of the company’s stock valued at $153,000 after purchasing an additional 3,847 shares during the period. Renaissance Technologies LLC acquired a new position in shares of Imax during the second quarter valued at $202,000. Xact Kapitalforvaltning AB acquired a new position in shares of Imax during the second quarter valued at $239,000. Finally, B. Riley Financial Inc. acquired a new position in shares of Imax during the second quarter valued at $242,000. Institutional investors own 80.84% of the company’s stock.

About Imax

IMAX Corporation, together with its subsidiaries, operates as an entertainment technology company that specializes in motion picture technologies and presentations worldwide. It offers cinematic solution comprising proprietary software, theater architecture, and equipment. The company engages in Digital Re-Mastering (DMR) of films into the IMAX format for exhibition in the IMAX theater network; the provision of IMAX premium theater systems to exhibitor customers through sales, long-term leases, or joint revenue sharing arrangements; the distribution of documentary films; the provision of production technical support and film post-production services; the ownership and operation of IMAX theaters; and the provision of camera and other miscellaneous items rental services.

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