IMAX (NYSE:IMAX) Issues Earnings Results, Misses Estimates By $0.14 EPS

IMAX (NYSE:IMAX) issued its earnings results on Wednesday. The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.14), Zacks reports. The business had revenue of $92.67 million during the quarter, compared to analysts’ expectations of $104.08 million. IMAX had a return on equity of 8.79% and a net margin of 7.40%.

IMAX Stock Down 2.5 %

Shares of IMAX traded down $0.67 during trading hours on Friday, reaching $26.26. 329,575 shares of the company traded hands, compared to its average volume of 696,838. The company’s fifty day moving average price is $24.65 and its two-hundred day moving average price is $22.96. The company has a market capitalization of $1.38 billion, a price-to-earnings ratio of 53.63, a price-to-earnings-growth ratio of 1.50 and a beta of 1.22. IMAX has a 12 month low of $14.94 and a 12 month high of $27.77.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on IMAX shares. Wells Fargo & Company lifted their target price on shares of IMAX from $26.00 to $32.00 and gave the stock an “overweight” rating in a research report on Thursday. Benchmark reiterated a “buy” rating and issued a $30.00 target price on shares of IMAX in a research report on Thursday. JPMorgan Chase & Co. lifted their target price on shares of IMAX from $25.00 to $27.00 and gave the stock a “neutral” rating in a research report on Friday. StockNews.com lowered shares of IMAX from a “buy” rating to a “hold” rating in a report on Thursday, February 13th. Finally, Macquarie raised their price target on shares of IMAX from $28.00 to $30.00 and gave the stock an “outperform” rating in a report on Thursday. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $30.67.

Insider Activity

In other news, CFO Natasha Fernandes sold 2,957 shares of IMAX stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $25.52, for a total transaction of $75,462.64. Following the sale, the chief financial officer now owns 14,883 shares of the company’s stock, valued at approximately $379,814.16. The trade was a 16.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Robert D. Lister sold 55,910 shares of IMAX stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $25.50, for a total transaction of $1,425,705.00. Following the sale, the executive vice president now directly owns 138,889 shares in the company, valued at $3,541,669.50. The trade was a 28.70 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 65,176 shares of company stock valued at $1,662,110. Corporate insiders own 24.08% 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.