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

IMAX Co. (NYSE:IMAX) – Equities researchers at Barrington Research cut their Q2 2024 EPS estimates for IMAX in a research note issued to investors on Monday, April 22nd. Barrington Research analyst J. Goss now anticipates that the company will post earnings of $0.05 per share for the quarter, down from their prior forecast of $0.09. Barrington Research has a “Outperform” rating and a $24.00 price objective 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 has been the topic of a number of other reports. StockNews.com downgraded shares of IMAX from a “buy” rating to a “hold” rating in a research report on Saturday, January 27th. Wedbush restated an “outperform” rating and set a $22.00 target price on shares of IMAX in a research report on Thursday, April 18th. Rosenblatt Securities cut 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. JPMorgan Chase & Co. cut 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. Finally, Benchmark restated a “buy” rating and set a $22.00 target price on shares of IMAX in a research report on Tuesday, April 16th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $20.57.

IMAX Stock Down 1.1 %

Shares of NYSE IMAX opened at $17.46 on Wednesday. The firm’s 50-day simple moving average is $16.31 and its 200 day simple moving average is $16.09. The company has a market cap of $924.52 million, a price-to-earnings ratio of 37.96, a price-to-earnings-growth ratio of 1.53 and a beta of 1.25. IMAX has a 12-month low of $13.20 and a 12-month high of $21.82.

IMAX (NYSE:IMAX) last issued its quarterly earnings data on Tuesday, February 27th. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.12. The company had revenue of $86.02 million during 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 business’s revenue was down 12.3% on a year-over-year basis. During the same period last year, the business earned $0.05 earnings per share.

Institutional Investors Weigh In On IMAX

Several hedge funds have recently added to or reduced their stakes in IMAX. Dimensional Fund Advisors LP lifted its holdings in shares of IMAX by 0.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,454,524 shares of the company’s stock worth $21,847,000 after buying an additional 10,358 shares in the last quarter. Private Capital Management LLC lifted its holdings in shares of IMAX by 54.3% during the fourth quarter. Private Capital Management LLC now owns 1,185,715 shares of the company’s stock worth $17,809,000 after buying an additional 417,169 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of IMAX by 13.0% during the fourth quarter. Victory Capital Management Inc. now owns 825,319 shares of the company’s stock worth $12,396,000 after buying an additional 95,182 shares in the last quarter. Alpine Woods Capital Investors LLC lifted its holdings in shares of IMAX by 33.8% during the third quarter. Alpine Woods Capital Investors LLC now owns 392,278 shares of the company’s stock worth $7,579,000 after buying an additional 99,163 shares in the last quarter. Finally, Mizuho Markets Americas LLC acquired a new stake in shares of IMAX during the third quarter worth $7,118,000. Institutional investors and hedge funds own 93.51% of the company’s stock.

Insider Transactions at IMAX

In other news, VP Robert D. Lister sold 25,000 shares of the 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 completion of the sale, the vice president now owns 138,889 shares of the company’s stock, valued at approximately $2,343,057.43. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 24.33% of the company’s stock.

IMAX Company Profile

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.