Equities Analysts Issue Forecasts for IMAX Co.’s Q1 2024 Earnings (NYSE:IMAX)

IMAX Co. (NYSE:IMAX) – Analysts at Barrington Research issued their Q1 2024 earnings estimates for IMAX in a research report issued on Monday, April 22nd. Barrington Research analyst J. Goss anticipates that the company will post earnings per share of $0.06 for the quarter. 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 Q1 2025 earnings at $0.03 EPS.

IMAX (NYSE:IMAX) last issued its earnings results on Thursday, April 25th. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.05. IMAX had a net margin of 6.76% and a return on equity of 9.59%. The company had revenue of $79.12 million for the quarter, compared to the consensus estimate of $77.88 million.

IMAX has been the topic of a number of other reports. Benchmark reaffirmed a “buy” rating and set a $22.00 target price on shares of IMAX in a research note on Friday. JPMorgan Chase & Co. reduced their target price on shares of IMAX from $20.00 to $17.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 6th. Wedbush reiterated an “outperform” rating and set a $22.00 price target on shares of IMAX in a research report on Friday. The Goldman Sachs Group dropped their price target on shares of IMAX from $15.00 to $13.00 and set a “sell” rating for the company in a research report on Thursday, January 11th. Finally, B. Riley dropped their price target on shares of IMAX from $27.00 to $21.00 and set a “buy” rating for the company in a research report on Tuesday, January 2nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $20.57.

IMAX Price Performance

Shares of IMAX stock opened at $17.14 on Thursday. The firm’s 50-day moving average is $16.37 and its two-hundred day moving average is $16.10. IMAX has a 12 month low of $13.20 and a 12 month high of $21.82. The company has a market capitalization of $907.56 million, a PE ratio of 37.26, a price-to-earnings-growth ratio of 1.55 and a beta of 1.25.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its position in shares of IMAX by 0.7% during the 4th 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 during the last quarter. Private Capital Management LLC grew its stake in IMAX by 54.3% in the 4th quarter. Private Capital Management LLC now owns 1,185,715 shares of the company’s stock valued at $17,809,000 after acquiring an additional 417,169 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in IMAX by 13.0% in the 4th quarter. Victory Capital Management Inc. now owns 825,319 shares of the company’s stock valued at $12,396,000 after purchasing an additional 95,182 shares in the last quarter. Alpine Woods Capital Investors LLC lifted its holdings in IMAX by 33.8% in the 3rd quarter. Alpine Woods Capital Investors LLC now owns 392,278 shares of the company’s stock valued at $7,579,000 after purchasing an additional 99,163 shares in the last quarter. Finally, Mizuho Markets Americas LLC purchased a new position in IMAX in the 3rd quarter valued at about $7,118,000. Institutional investors and hedge funds own 93.51% of the company’s stock.

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 shares were sold at an average price of $16.87, for a total transaction of $421,750.00. Following the completion of the transaction, the vice president now owns 138,889 shares in the company, valued at approximately $2,343,057.43. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 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.