Barrington Research Equities Analysts Reduce Earnings Estimates for IMAX Co. (NYSE:IMAX)

IMAX Co. (NYSE:IMAX) – Analysts at Barrington Research decreased their Q2 2024 earnings per share estimates for IMAX in a research report issued on Monday, April 22nd. Barrington Research analyst J. Goss now expects that the company will post earnings of $0.05 per share for the quarter, down from their previous forecast of $0.09. Barrington Research currently has a “Outperform” rating and a $24.00 target price 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 Q3 2024 earnings at $0.12 EPS, FY2024 earnings at $0.48 EPS, Q2 2025 earnings at $0.08 EPS, Q3 2025 earnings at $0.14 EPS and FY2025 earnings at $0.59 EPS.

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

A number of other analysts have also recently commented on the company. JPMorgan Chase & Co. lowered their price target on IMAX from $20.00 to $17.00 and set a “neutral” rating for the company in a research report on Tuesday, February 6th. Benchmark reiterated a “buy” rating and set a $22.00 price objective on shares of IMAX in a research note on Tuesday, April 16th. 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. The Goldman Sachs Group reduced their price objective on IMAX from $15.00 to $13.00 and set a “sell” rating for the company in a research note on Thursday, January 11th. Finally, 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. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $20.57.

IMAX Stock Down 1.1 %

Shares of NYSE:IMAX opened at $17.46 on Wednesday. IMAX has a 52-week low of $13.20 and a 52-week high of $21.82. The stock has a market cap of $924.52 million, a P/E ratio of 37.96, a price-to-earnings-growth ratio of 1.53 and a beta of 1.25. The business’s 50 day moving average is $16.31 and its 200 day moving average is $16.09.

Insider Activity at IMAX

In other IMAX news, VP Robert D. Lister sold 25,000 shares of the business’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 sale, the vice president now owns 138,889 shares of the company’s stock, valued at $2,343,057.43. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 24.33% of the stock is currently owned by insiders.

Institutional Trading of IMAX

A number of large investors have recently modified their holdings of IMAX. PNC Financial Services Group Inc. purchased a new position in IMAX in the fourth quarter valued at $33,000. Tower Research Capital LLC TRC increased its holdings in IMAX by 545.0% in the fourth 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 purchased a new position in IMAX in the third quarter valued at $139,000. Partnership Wealth Management LLC purchased a new position in IMAX in the fourth quarter valued at $111,000. Finally, C M Bidwell & Associates Ltd. purchased a new position in IMAX in the third quarter valued at $160,000. Hedge funds and other institutional investors own 93.51% 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.