Q1 2024 EPS Estimates for IMAX Co. Reduced by Analyst (NYSE:IMAX)

IMAX Co. (NYSE:IMAX - Free Report) - Investment analysts at Roth Capital dropped their Q1 2024 earnings per share estimates for shares of IMAX in a research report issued to clients and investors on Wednesday, April 10th. Roth Capital analyst E. Handler now anticipates that the company will post earnings per share of $0.07 for the quarter, down from their previous forecast of $0.10. The consensus estimate for IMAX's current full-year earnings is $0.58 per share.

IMAX (NYSE:IMAX - Get Free Report) last posted its earnings results on Tuesday, February 27th. The company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.12. The firm had revenue of $86.02 million for the quarter, compared to analyst estimates of $85.83 million. IMAX had a return on equity of 9.59% and a net margin of 6.76%. The company's revenue for the quarter was down 12.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.05 earnings per share.

Several other research firms have also weighed in on IMAX. Wedbush reiterated an "outperform" rating and set a $22.00 target price on shares of IMAX in a report on Wednesday. B. Riley reduced their target price on IMAX from $27.00 to $21.00 and set a "buy" rating on the stock in a report on Tuesday, January 2nd. JPMorgan Chase & Co. dropped their price target on IMAX from $20.00 to $17.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 6th. Benchmark reissued a "buy" rating and issued a $22.00 price target on shares of IMAX in a research note on Wednesday. Finally, Rosenblatt Securities dropped their price target on IMAX from $30.00 to $25.00 and set a "buy" rating on the stock in a research note on Tuesday, February 13th. 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. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $20.57.

IMAX Stock Performance

IMAX stock traded down $0.25 during midday trading on Friday, hitting $16.47. 1,675,498 shares of the company's stock were exchanged, compared to its average volume of 821,901. The stock's fifty day moving average price is $15.81 and its 200-day moving average price is $16.23. The company has a market cap of $872.09 million, a PE ratio of 35.80, a price-to-earnings-growth ratio of 1.44 and a beta of 1.25. IMAX has a one year low of $13.20 and a one year high of $21.82.

Institutional Investors Weigh In On IMAX

A number of institutional investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. acquired a new position in IMAX during the fourth quarter valued at approximately $33,000. Tower Research Capital LLC TRC raised its position in IMAX by 164.8% during the third quarter. Tower Research Capital LLC TRC now owns 3,260 shares of the company's stock valued at $46,000 after purchasing an additional 2,029 shares in the last quarter. Point72 Hong Kong Ltd acquired a new position in IMAX during the fourth quarter valued at approximately $65,000. SRS Capital Advisors Inc. increased its holdings in shares of IMAX by 11.1% during the first quarter. SRS Capital Advisors Inc. now owns 6,492 shares of the company's stock worth $125,000 after buying an additional 650 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of IMAX during the third quarter worth $139,000. Institutional investors 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 stock was sold at an average price of $16.87, for a total transaction of $421,750.00. Following the transaction, the vice president now owns 138,889 shares of the company's stock, valued at $2,343,057.43. The sale was disclosed in a document filed with the SEC, which is available through this link. 24.33% of the stock is owned by company insiders.

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.