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

IMAX Co. (NYSE:IMAX) – Equities researchers at Barrington Research cut their Q3 2024 earnings estimates for IMAX in a report released on Wednesday, September 25th. Barrington Research analyst J. Goss now expects that the company will earn $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.

A number of other brokerages have also weighed in on IMAX. Benchmark reaffirmed a “buy” rating and set a $22.00 target price on shares of IMAX in a research note on Thursday, June 20th. Roth Mkm raised their price target on IMAX from $23.00 to $27.00 and gave the company a “buy” rating in a report on Friday, July 26th. Macquarie raised their price target on shares of IMAX from $24.00 to $26.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Seaport Res Ptn raised IMAX to a “strong-buy” rating in a research report on Wednesday, July 24th. Finally, Wedbush boosted their target price on shares of IMAX from $24.00 to $26.00 and gave the company an “outperform” rating in a research note on Tuesday, September 3rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $23.67.

IMAX Stock Performance

IMAX opened at $20.12 on Monday. The stock’s 50 day moving average price is $20.51 and its 200-day moving average price is $17.97. The stock has a market capitalization of $1.06 billion, a PE ratio of 41.92, a price-to-earnings-growth ratio of 1.38 and a beta of 1.25. IMAX has a 52-week low of $13.20 and a 52-week high of $22.13.

IMAX (NYSE:IMAX) last announced 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 business had revenue of $88.96 million for the quarter, compared to analyst estimates of $74.52 million. During the same quarter last year, the firm earned $0.17 EPS. The company’s revenue was down 9.2% on a year-over-year basis.

Institutional Trading of IMAX

Several institutional investors and hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its holdings in IMAX by 0.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,454,524 shares of the company’s stock worth $21,847,000 after purchasing an additional 10,358 shares in the last quarter. Private Capital Management LLC boosted its stake in shares of IMAX by 10.0% during the first quarter. Private Capital Management LLC now owns 1,304,364 shares of the company’s stock valued at $21,092,000 after purchasing an additional 118,649 shares during the period. Victory Capital Management Inc. increased its position in shares of IMAX by 33.1% during the second quarter. Victory Capital Management Inc. now owns 1,293,221 shares of the company’s stock worth $21,687,000 after acquiring an additional 321,506 shares during the period. Thrivent Financial for Lutherans raised its position in IMAX by 5.5% during the 2nd quarter. Thrivent Financial for Lutherans now owns 819,325 shares of the company’s stock valued at $13,740,000 after purchasing an additional 42,952 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of IMAX by 90.6% during the second 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. 93.51% of the stock is currently owned by 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.