Research Analysts Issue Forecasts for IMAX FY2024 Earnings

IMAX Co. (NYSE:IMAX) – Stock analysts at Wedbush reduced their FY2024 earnings per share estimates for shares of IMAX in a report issued on Wednesday, February 12th. Wedbush analyst A. Reese now anticipates that the company will post earnings of $0.66 per share for the year, down from their previous estimate of $0.78. Wedbush currently has a “Outperform” rating and a $32.00 target price on the stock. The consensus estimate for IMAX’s current full-year earnings is $0.66 per share. Wedbush also issued estimates for IMAX’s Q4 2024 earnings at $0.21 EPS, Q2 2025 earnings at $0.10 EPS, FY2025 earnings at $0.92 EPS and FY2026 earnings at $1.11 EPS.

Several other analysts also recently commented on the company. Benchmark reaffirmed a “buy” rating and set a $30.00 price objective on shares of IMAX in a research note on Friday, January 17th. Rosenblatt Securities reaffirmed a “buy” rating and set a $28.00 price objective on shares of IMAX in a research note on Thursday, January 16th. JPMorgan Chase & Co. upped their price objective on IMAX from $21.00 to $25.00 and gave the company a “neutral” rating in a research note on Thursday, January 30th. StockNews.com downgraded IMAX from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, Roth Mkm boosted their target price on IMAX from $27.00 to $28.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $28.63.

IMAX Stock Up 2.9 %

IMAX opened at $26.82 on Friday. The business has a 50 day moving average price of $24.53 and a two-hundred day moving average price of $22.75. The company has a market cap of $1.41 billion, a PE ratio of 60.96, a P/E/G ratio of 1.40 and a beta of 1.22. IMAX has a 52 week low of $14.06 and a 52 week high of $26.85.

Insider Activity at IMAX

In related news, insider Kenneth Ian Weissman sold 6,309 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $25.51, for a total value of $160,942.59. Following the transaction, the insider now directly owns 25,139 shares of the company’s stock, valued at approximately $641,295.89. This trade represents a 20.06 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Robert D. Lister sold 55,910 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $25.50, for a total value of $1,425,705.00. Following the completion of the transaction, the executive vice president now directly owns 138,889 shares in the company, valued at $3,541,669.50. This trade represents a 28.70 % decrease in their ownership of the stock. 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. 24.08% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in IMAX. Blue Trust Inc. raised its position in shares of IMAX by 138.5% in the 4th quarter. Blue Trust Inc. now owns 966 shares of the company’s stock worth $25,000 after buying an additional 561 shares during the period. Huntington National Bank acquired a new stake in IMAX in the 3rd quarter valued at $34,000. Quarry LP increased its holdings in IMAX by 78,333.3% in the 3rd quarter. Quarry LP now owns 2,353 shares of the company’s stock valued at $48,000 after purchasing an additional 2,350 shares in the last quarter. nVerses Capital LLC acquired a new stake in IMAX in the 3rd quarter valued at $70,000. Finally, US Bancorp DE increased its holdings in IMAX by 23.4% in the 3rd quarter. US Bancorp DE now owns 7,656 shares of the company’s stock valued at $157,000 after purchasing an additional 1,452 shares in the last quarter. 93.51% of the stock is owned by hedge funds and other institutional investors.

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.