IMAX Co. (NYSE:IMAX - Free Report) - Investment analysts at Wedbush cut their Q2 2024 earnings estimates for IMAX in a research report issued on Thursday, April 18th. Wedbush analyst A. Reese now expects that the company will post earnings per share of $0.12 for the quarter, down from their previous forecast of $0.15. Wedbush currently has a "Outperform" rating and a $22.00 target price on the stock. The consensus estimate for IMAX's current full-year earnings is $0.55 per share. Wedbush also issued estimates for IMAX's Q3 2024 earnings at $0.30 EPS, Q1 2025 earnings at $0.15 EPS, Q2 2025 earnings at $0.21 EPS and Q4 2025 earnings at $0.39 EPS.
Several other research firms also recently weighed in on IMAX. The Goldman Sachs Group decreased their price target on shares of IMAX from $15.00 to $13.00 and set a "sell" rating on the stock in a research note on Thursday, January 11th. Rosenblatt Securities decreased their price target on shares of IMAX from $30.00 to $25.00 and set a "buy" rating on the stock in a research note on Tuesday, February 13th. JPMorgan Chase & Co. decreased their price target 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. Benchmark reissued a "buy" rating and issued a $22.00 price target on shares of IMAX in a research note on Tuesday. Finally, StockNews.com downgraded shares of IMAX from a "buy" rating to a "hold" rating in a research note on Saturday, January 27th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, IMAX has a consensus rating of "Moderate Buy" and a consensus price target of $20.57.
View Our Latest Stock Report on IMAX
IMAX Stock Up 0.1 %
Shares of NYSE IMAX traded up $0.03 during trading on Friday, hitting $17.14. The company had a trading volume of 794,532 shares, compared to its average volume of 826,183. The stock has a fifty day simple moving average of $16.13 and a two-hundred day simple moving average of $16.14. IMAX has a fifty-two week low of $13.20 and a fifty-two week high of $21.82. The firm has a market capitalization of $907.30 million, a price-to-earnings ratio of 37.25, a price-to-earnings-growth ratio of 1.54 and a beta of 1.25.
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, beating the consensus estimate of $0.05 by $0.12. IMAX had a net margin of 6.76% and a return on equity of 9.59%. The business had revenue of $86.02 million for the quarter, compared to analyst estimates of $85.83 million. During the same quarter last year, the business earned $0.05 earnings per share. The company's revenue for the quarter was down 12.3% compared to the same quarter last year.
Insider Buying and Selling at IMAX
In other IMAX news, VP Robert D. Lister sold 25,000 shares of IMAX stock in a transaction dated 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 sale, the vice president now directly owns 138,889 shares in the company, valued at $2,343,057.43. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 24.33% of the company's stock.
Institutional Trading of IMAX
Institutional investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. purchased a new stake in shares of IMAX during the 4th quarter worth approximately $33,000. Tower Research Capital LLC TRC raised its position in IMAX by 164.8% in the 3rd 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 during the last quarter. Point72 Hong Kong Ltd purchased a new stake in IMAX in the 4th quarter valued at $65,000. Tower Research Capital LLC TRC raised its position in IMAX by 545.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,992 shares of the company's stock valued at $75,000 after purchasing an additional 4,218 shares during the last quarter. Finally, SRS Capital Advisors Inc. raised its position in IMAX by 11.1% in the 1st quarter. SRS Capital Advisors Inc. now owns 6,492 shares of the company's stock valued at $125,000 after purchasing an additional 650 shares during the last quarter. Hedge funds and other institutional investors own 93.51% of the company's stock.
About IMAX
(
Get Free Report)
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.
See Also
Before you consider IMAX, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and IMAX wasn't on the list.
While IMAX currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Need to stretch out your 401K or Roth IRA plan? Use these time-tested investing strategies to grow the monthly retirement income that your stock portfolio generates.
Get This Free Report
