IMAX (IMAX) to Release Earnings on Thursday

IMAX (NYSE:IMAX - Get Free Report) will issue its quarterly earnings data before the market opens on Thursday, April 25th. Analysts expect the company to announce earnings of $0.08 per share for the quarter. Investors that wish to listen to the company's conference call can do so using this link.

IMAX (NYSE:IMAX - Get Free Report) last posted its quarterly earnings data on Tuesday, February 27th. The company reported $0.17 EPS for the quarter, beating 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 the consensus estimate of $85.83 million. During the same period in the prior year, the firm posted $0.05 EPS. The firm's revenue was down 12.3% compared to the same quarter last year. On average, analysts expect IMAX to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

IMAX Trading Up 0.2 %

NYSE IMAX traded up $0.03 during trading hours on Thursday, reaching $17.10. 732,509 shares of the company traded hands, compared to its average volume of 826,605. IMAX has a 12 month low of $13.20 and a 12 month high of $21.82. The stock has a market capitalization of $905.45 million, a PE ratio of 37.17, a PEG ratio of 1.52 and a beta of 1.25. The company has a 50 day moving average of $16.07 and a two-hundred day moving average of $16.16.

Insider Buying and Selling

In related news, VP Robert D. Lister sold 25,000 shares of the stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $16.87, for a total value of $421,750.00. Following the sale, the vice president now owns 138,889 shares of the company's stock, valued at approximately $2,343,057.43. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 24.33% of the company's stock.

Hedge Funds Weigh In On IMAX

Several large investors have recently bought and sold shares of the stock. Macquarie Group Ltd. increased its stake in IMAX by 16.8% during the 1st quarter. Macquarie Group Ltd. now owns 3,002,830 shares of the company's stock valued at $57,594,000 after buying an additional 431,231 shares during the period. Invesco Ltd. boosted its position in shares of IMAX by 2.2% during 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 position in shares of IMAX by 21.3% during 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 position in shares of IMAX by 1.8% during 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 position in shares of IMAX by 6.8% during 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. Institutional investors and hedge funds own 93.51% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on IMAX shares. JPMorgan Chase & Co. reduced their price objective 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. B. Riley dropped their target price on shares of IMAX from $27.00 to $21.00 and set a "buy" rating on the stock in a report on Tuesday, January 2nd. Rosenblatt Securities dropped their target price on shares of IMAX from $30.00 to $25.00 and set a "buy" rating on the stock in a report on Tuesday, February 13th. Barrington Research reissued an "outperform" rating and set a $24.00 target price on shares of IMAX in a report on Wednesday, February 28th. Finally, Benchmark reissued a "buy" rating and set a $22.00 target price on shares of IMAX in a report on Tuesday. One equities 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. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $20.57.

About IMAX

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.