IMAX Co. (NYSE:IMAX) to Post FY2024 Earnings of $0.59 Per Share, Roth Capital Forecasts

IMAX Co. (NYSE:IMAX - Free Report) - Roth Capital reduced their FY2024 EPS estimates for shares of IMAX in a note issued to investors on Wednesday, April 10th. Roth Capital analyst E. Handler now expects that the company will earn $0.59 per share for the year, down from their prior estimate of $0.62. The consensus estimate for IMAX's current full-year earnings is $0.58 per share. Roth Capital also issued estimates for IMAX's FY2025 earnings at $0.93 EPS and FY2026 earnings at $1.07 EPS.

Other analysts have also issued research reports about the stock. JPMorgan Chase & Co. reduced their price target on shares of IMAX from $20.00 to $17.00 and set a "neutral" rating on the stock in a research report on Tuesday, February 6th. The Goldman Sachs Group dropped their price objective on shares of IMAX from $15.00 to $13.00 and set a "sell" rating for the company in a research note on Thursday, January 11th. Wedbush reissued an "outperform" rating and issued a $22.00 price objective on shares of IMAX in a research note on Wednesday, April 10th. StockNews.com downgraded shares of IMAX from a "buy" rating to a "hold" rating in a research note on Saturday, January 27th. Finally, Barrington Research reissued an "outperform" rating and issued a $24.00 price objective on shares of IMAX in a research note on Wednesday, February 28th. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $20.57.

IMAX Trading Down 0.4 %

Shares of NYSE:IMAX traded down $0.07 on Monday, reaching $16.36. 1,043,330 shares of the company's stock were exchanged, compared to its average volume of 824,978. The company has a market capitalization of $866.26 million, a price-to-earnings ratio of 35.57, a PEG ratio of 1.43 and a beta of 1.25. The company has a fifty day moving average of $15.87 and a 200-day moving average of $16.17. IMAX has a twelve month low of $13.20 and a twelve month high of $21.82.

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

Insider Activity

In related 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 of the company's stock, valued at $2,343,057.43. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 24.33% of the company's stock.

Hedge Funds Weigh In On IMAX

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Macquarie Group Ltd. boosted its stake in shares of IMAX by 16.8% in the 1st quarter. Macquarie Group Ltd. now owns 3,002,830 shares of the company's stock valued at $57,594,000 after purchasing an additional 431,231 shares in the last quarter. Invesco Ltd. boosted its stake in shares of IMAX by 2.2% in the 1st quarter. Invesco Ltd. now owns 2,217,169 shares of the company's stock valued at $41,971,000 after purchasing an additional 48,232 shares in the last quarter. Millennium Management LLC boosted its stake in shares of IMAX by 21.3% in the 4th quarter. Millennium Management LLC now owns 2,194,019 shares of the company's stock valued at $32,164,000 after purchasing an additional 385,912 shares in the last quarter. Alliancebernstein L.P. boosted its stake in shares of IMAX by 1.8% in the 4th quarter. Alliancebernstein L.P. now owns 2,018,885 shares of the company's stock valued at $29,597,000 after purchasing an additional 36,620 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of IMAX by 6.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,684,780 shares of the company's stock valued at $32,313,000 after purchasing an additional 107,989 shares in the last quarter. Hedge funds and other institutional investors own 93.51% 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.