IMAX (NYSE:IMAX) Announces Quarterly Earnings Results

IMAX (NYSE:IMAX) announced its earnings results on Thursday. The company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.07 by $0.11, Briefing.com reports. IMAX had a return on equity of 7.77% and a net margin of 5.97%. The business had revenue of $88.96 million for the quarter, compared to analysts’ expectations of $74.52 million. During the same period in the prior year, the business posted $0.17 earnings per share. The firm’s revenue was down 9.2% on a year-over-year basis.

IMAX Stock Up 3.6 %

IMAX traded up $0.69 during trading on Friday, hitting $20.09. 2,156,796 shares of the company’s stock were exchanged, compared to its average volume of 706,442. IMAX has a fifty-two week low of $13.20 and a fifty-two week high of $20.70. The stock has a market cap of $1.06 billion, a P/E ratio of 41.86, a PEG ratio of 1.69 and a beta of 1.26. The business’s 50 day moving average is $16.75 and its two-hundred day moving average is $16.12.

Analysts Set New Price Targets

IMAX has been the topic of a number of analyst reports. Benchmark reaffirmed a “buy” rating and issued a $22.00 price objective on shares of IMAX in a research note on Thursday, June 20th. B. Riley increased their price target on IMAX from $27.00 to $30.00 and gave the stock a “buy” rating in a report on Monday, July 8th. Barrington Research reissued an “outperform” rating and issued a $25.00 price objective on shares of IMAX in a research note on Friday. Seaport Res Ptn raised IMAX to a “strong-buy” rating in a research note on Wednesday. Finally, Macquarie boosted their price target on IMAX from $24.00 to $26.00 and gave the company an “outperform” rating in a research note on Friday. One analyst has rated the stock with a sell rating, two have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, IMAX has an average rating of “Moderate Buy” and a consensus target price of $23.56.

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.