Q2 2024 Earnings Estimate for IMAX Co. (NYSE:IMAX) Issued By Barrington Research

IMAX Co. (NYSE:IMAX) – Investment analysts at Barrington Research decreased their Q2 2024 earnings estimates for IMAX in a report issued on Monday, April 22nd. Barrington Research analyst J. Goss now expects that the company will earn $0.05 per share for the quarter, down from their prior estimate of $0.09. Barrington Research currently has a “Outperform” rating and a $24.00 price target on the stock. The consensus estimate for IMAX’s current full-year earnings is $0.56 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 has been the topic of several other reports. B. Riley dropped their price target on shares of IMAX from $27.00 to $21.00 and set a “buy” rating on the stock in a research note on Tuesday, January 2nd. JPMorgan Chase & Co. lowered their target price on shares of IMAX from $20.00 to $17.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 6th. The Goldman Sachs Group lowered their target price on shares of IMAX from $15.00 to $13.00 and set a “sell” rating on the stock in a research report on Thursday, January 11th. StockNews.com lowered shares of IMAX from a “buy” rating to a “hold” rating in a research report on Saturday, January 27th. Finally, Rosenblatt Securities lowered their target price on shares of IMAX from $30.00 to $25.00 and set a “buy” rating on the stock in a research report on Tuesday, February 13th. One equities 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 company. According to data from MarketBeat.com, IMAX currently has an average rating of “Moderate Buy” and a consensus target price of $20.57.

IMAX Stock Up 1.7 %

Shares of IMAX stock opened at $17.44 on Wednesday. The firm has a market capitalization of $923.45 million, a P/E ratio of 37.91, a P/E/G ratio of 1.52 and a beta of 1.25. IMAX has a 52 week low of $13.20 and a 52 week high of $21.82. The firm’s 50 day moving average is $16.25 and its two-hundred day moving average is $16.08.

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

Institutional Investors Weigh In On IMAX

Hedge funds and other institutional investors have recently bought and sold shares of the business. PNC Financial Services Group Inc. acquired a new stake in IMAX in the fourth quarter valued at $33,000. Tower Research Capital LLC TRC raised its stake in shares of IMAX by 545.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,992 shares of the company’s stock worth $75,000 after buying an additional 4,218 shares during the last quarter. Partnership Wealth Management LLC acquired a new position in shares of IMAX during the 4th quarter worth $111,000. SG Americas Securities LLC acquired a new position in shares of IMAX during the 3rd quarter worth $139,000. Finally, C M Bidwell & Associates Ltd. acquired a new position in shares of IMAX during the 3rd quarter worth $160,000. Institutional investors and hedge funds own 93.51% of the company’s stock.

Insider Buying and Selling

In related news, VP Robert D. Lister sold 25,000 shares of the stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $16.87, for a total transaction of $421,750.00. Following the completion of the sale, the vice president now directly 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 is available through the SEC website. Corporate insiders own 24.33% 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.