Equities research analysts expect that Imax Corp (NYSE:IMAX) will announce sales of $99.08 million for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Imax’s earnings, with the lowest sales estimate coming in at $95.97 million and the highest estimate coming in at $101.47 million. Imax posted sales of $98.35 million during the same quarter last year, which suggests a positive year-over-year growth rate of 0.7%. The company is expected to announce its next quarterly earnings report on Wednesday, July 24th.
According to Zacks, analysts expect that Imax will report full year sales of $397.89 million for the current financial year, with estimates ranging from $390.81 million to $404.53 million. For the next year, analysts anticipate that the business will post sales of $413.15 million, with estimates ranging from $392.51 million to $429.75 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that cover Imax.
Imax (NYSE:IMAX) last released its earnings results on Friday, April 26th. The company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.01. Imax had a return on equity of 6.31% and a net margin of 6.12%. The business had revenue of $80.20 million for the quarter, compared to analyst estimates of $81.29 million. During the same quarter in the prior year, the company posted $0.21 earnings per share. Imax’s revenue was down 5.6% on a year-over-year basis.
In other news, insider Mark Welton sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $24.83, for a total value of $372,450.00. Following the transaction, the insider now owns 20,670 shares of the company’s stock, valued at $513,236.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Kenneth Ian Weissman sold 4,077 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $24.90, for a total value of $101,517.30. Following the completion of the transaction, the senior vice president now directly owns 7,426 shares in the company, valued at approximately $184,907.40. The disclosure for this sale can be found here. Insiders sold 65,975 shares of company stock worth $1,529,542 in the last ninety days. 18.70% of the stock is owned by company insiders.
A number of large investors have recently modified their holdings of IMAX. Penserra Capital Management LLC grew its position in Imax by 50.0% during the first quarter. Penserra Capital Management LLC now owns 2,376 shares of the company’s stock worth $53,000 after buying an additional 792 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Imax by 29.8% during the fourth quarter. Principal Financial Group Inc. now owns 10,367 shares of the company’s stock worth $195,000 after purchasing an additional 2,379 shares during the last quarter. Stone Ridge Asset Management LLC bought a new stake in Imax during the fourth quarter worth $218,000. NumerixS Investment Technologies Inc bought a new stake in Imax during the first quarter worth $218,000. Finally, Mission Wealth Management LP bought a new stake in Imax during the first quarter worth $237,000. 77.61% of the stock is currently owned by institutional investors and hedge funds.
IMAX traded down $0.03 on Wednesday, hitting $20.20. 11,172 shares of the company were exchanged, compared to its average volume of 409,443. Imax has a 12 month low of $17.55 and a 12 month high of $26.10. The company has a market cap of $1.26 billion, a P/E ratio of 36.11, a PEG ratio of 1.28 and a beta of 0.98. The company has a fifty day moving average price of $20.67.
Imax Company Profile
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, and 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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