IMAX Co. to Post Q3 2024 Earnings of $0.08 Per Share, Barrington Research Forecasts (NYSE:IMAX)

IMAX Co. (NYSE:IMAX) – Barrington Research reduced their Q3 2024 earnings estimates for shares of IMAX in a research report issued to clients and investors on Wednesday, September 25th. Barrington Research analyst J. Goss now expects that the company will post earnings of $0.08 per share for the quarter, down from their previous 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 $0.69 per share. Barrington Research also issued estimates for IMAX’s FY2024 earnings at $0.51 EPS, Q2 2025 earnings at $0.03 EPS and FY2025 earnings at $0.53 EPS.

IMAX (NYSE:IMAX) last issued its quarterly earnings results on Thursday, July 25th. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.11. IMAX had a net margin of 5.97% and a return on equity of 7.78%. The company had revenue of $88.96 million for the quarter, compared to analyst estimates of $74.52 million. During the same period in the prior year, the firm earned $0.17 earnings per share. The business’s revenue for the quarter was down 9.2% compared to the same quarter last year.

Several other research firms have also recently issued reports on IMAX. Wedbush lifted their price objective on shares of IMAX from $24.00 to $26.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 3rd. Rosenblatt Securities lifted their target price on shares of IMAX from $25.00 to $28.00 and gave the company a “buy” rating in a report on Friday, July 26th. B. Riley boosted their price target on IMAX from $27.00 to $30.00 and gave the company a “buy” rating in a research report on Monday, July 8th. Benchmark reissued a “buy” rating and issued a $22.00 price objective on shares of IMAX in a research note on Thursday, June 20th. Finally, Seaport Res Ptn raised IMAX to a “strong-buy” rating in a research note on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, IMAX has an average rating of “Moderate Buy” and an average price target of $23.67.

IMAX Price Performance

IMAX stock opened at $20.12 on Monday. IMAX has a 1 year low of $13.20 and a 1 year high of $22.13. The business’s 50-day moving average is $20.51 and its two-hundred day moving average is $17.97. The firm has a market capitalization of $1.06 billion, a P/E ratio of 41.92, a P/E/G ratio of 1.38 and a beta of 1.25.

Institutional Trading of IMAX

Large investors have recently made changes to their positions in the stock. Private Capital Management LLC increased its stake in IMAX by 54.3% in the fourth quarter. Private Capital Management LLC now owns 1,185,715 shares of the company’s stock valued at $17,809,000 after purchasing an additional 417,169 shares during the last quarter. Kodai Capital Management LP purchased a new stake in shares of IMAX during the fourth quarter valued at approximately $5,287,000. Victory Capital Management Inc. increased its stake in IMAX by 33.1% during the 2nd quarter. Victory Capital Management Inc. now owns 1,293,221 shares of the company’s stock worth $21,687,000 after buying an additional 321,506 shares during the period. Acadian Asset Management LLC lifted its stake in shares of IMAX by 178.7% in the first quarter. Acadian Asset Management LLC now owns 490,917 shares of the company’s stock worth $7,934,000 after acquiring an additional 314,742 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of IMAX by 90.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 587,694 shares of the company’s stock valued at $9,856,000 after purchasing an additional 279,410 shares in the last quarter. Institutional investors and hedge funds own 93.51% 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.