Q1 2024 Earnings Estimate for IMAX Co. Issued By Barrington Research (NYSE:IMAX)

IMAX Co. (NYSE:IMAX) – Research analysts at Barrington Research issued their Q1 2024 earnings per share estimates for IMAX in a report issued on Monday, April 22nd. Barrington Research analyst J. Goss anticipates that the company will post earnings per share of $0.06 for the quarter. Barrington Research has a “Outperform” rating and a $24.00 price target 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.

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

A number of other research firms have also weighed in on IMAX. Benchmark reiterated a “buy” rating and issued a $22.00 price target on shares of IMAX in a research report on Tuesday, April 16th. Rosenblatt Securities reduced their price objective on IMAX from $30.00 to $25.00 and set a “buy” rating for the company in a research note on Tuesday, February 13th. JPMorgan Chase & Co. reduced their price objective on IMAX from $20.00 to $17.00 and set a “neutral” rating for the company in a research note on Tuesday, February 6th. Wedbush reissued an “outperform” rating and issued a $22.00 price objective on shares of IMAX in a research note on Thursday, April 18th. Finally, B. Riley reduced their price objective on IMAX from $27.00 to $21.00 and set a “buy” rating for the company in a research note on Tuesday, January 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $20.57.

IMAX Stock Up 1.2 %

NYSE:IMAX opened at $17.65 on Thursday. IMAX has a 1-year low of $13.20 and a 1-year high of $21.82. The firm has a market capitalization of $934.57 million, a price-to-earnings ratio of 38.37, a price-to-earnings-growth ratio of 1.53 and a beta of 1.25. The stock has a fifty day simple moving average of $16.25 and a 200 day simple moving average of $16.08.

Insider Activity at IMAX

In related news, VP Robert D. Lister sold 25,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the vice president now directly owns 138,889 shares of the company’s stock, valued at approximately $2,343,057.43. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 24.33% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. PNC Financial Services Group Inc. acquired a new stake in IMAX in the 4th quarter valued at approximately $33,000. Tower Research Capital LLC TRC grew its holdings in IMAX by 545.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,992 shares of the company’s stock valued at $75,000 after buying an additional 4,218 shares during the last quarter. SG Americas Securities LLC acquired a new stake in IMAX in the 3rd quarter valued at approximately $139,000. Partnership Wealth Management LLC acquired a new stake in IMAX in the 4th quarter valued at approximately $111,000. Finally, C M Bidwell & Associates Ltd. acquired a new stake in IMAX in the 3rd quarter valued at approximately $160,000. 93.51% of the stock is owned by institutional investors.

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.