Imax Corp (IMAX) Expected to Earn Q4 2019 Earnings of $0.38 Per Share

Imax Corp (NYSE:IMAX) – Research analysts at B. Riley raised their Q4 2019 earnings per share estimates for Imax in a note issued to investors on Monday, October 8th. B. Riley analyst E. Wold now forecasts that the company will post earnings per share of $0.38 for the quarter, up from their prior estimate of $0.30.

Imax (NYSE:IMAX) last announced its quarterly earnings data on Wednesday, July 25th. The company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.04. Imax had a return on equity of 6.37% and a net margin of 4.93%. The business had revenue of $98.35 million during the quarter, compared to analyst estimates of $98.49 million. During the same period in the prior year, the company earned $0.15 earnings per share. Imax’s revenue was up 12.1% compared to the same quarter last year.

Several other equities analysts have also weighed in on the company. Zacks Investment Research raised Imax from a “hold” rating to a “buy” rating and set a $28.00 price objective for the company in a report on Tuesday, September 25th. ValuEngine lowered Imax from a “hold” rating to a “sell” rating in a report on Thursday, July 26th. Finally, Wedbush set a $32.00 price objective on Imax and gave the company a “buy” rating in a report on Thursday, July 26th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $27.72.

Shares of NYSE IMAX opened at $24.87 on Tuesday. Imax has a 1-year low of $18.98 and a 1-year high of $26.70. The firm has a market cap of $1.61 billion, a price-to-earnings ratio of 138.17, a PEG ratio of 1.91 and a beta of 0.86.

Several institutional investors have recently bought and sold shares of the company. Guggenheim Capital LLC boosted its holdings in shares of Imax by 18.7% in the first quarter. Guggenheim Capital LLC now owns 13,435 shares of the company’s stock worth $257,000 after acquiring an additional 2,116 shares during the period. Gamco Investors INC. ET AL boosted its holdings in shares of Imax by 6.4% in the second quarter. Gamco Investors INC. ET AL now owns 58,500 shares of the company’s stock worth $1,296,000 after acquiring an additional 3,500 shares during the period. Ladenburg Thalmann Financial Services Inc. boosted its holdings in shares of Imax by 82.2% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 7,800 shares of the company’s stock worth $150,000 after acquiring an additional 3,520 shares during the period. Aurora Investment Counsel boosted its holdings in shares of Imax by 5.0% in the second quarter. Aurora Investment Counsel now owns 91,159 shares of the company’s stock worth $2,019,000 after acquiring an additional 4,319 shares during the period. Finally, Wells Fargo & Company MN boosted its holdings in shares of Imax by 3.6% in the first quarter. Wells Fargo & Company MN now owns 147,804 shares of the company’s stock worth $2,837,000 after acquiring an additional 5,194 shares during the period. 83.40% of the stock is owned by hedge funds and other institutional investors.

In other news, insider Robert D. Lister sold 15,000 shares of the firm’s stock in a transaction on Thursday, August 16th. The stock was sold at an average price of $22.67, for a total value of $340,050.00. Following the completion of the transaction, the insider now directly owns 51,247 shares of the company’s stock, valued at $1,161,769.49. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Greg Foster sold 9,415 shares of the firm’s stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $23.46, for a total value of $220,875.90. Following the completion of the transaction, the chief executive officer now directly owns 86,960 shares of the company’s stock, valued at $2,040,081.60. The disclosure for this sale can be found here. Insiders sold 36,330 shares of company stock valued at $821,901 over the last ninety days. Corporate insiders own 18.70% of the company’s stock.

Imax Company Profile

IMAX Corporation, together with its subsidiaries, operates as an entertainment technology company that specializes in motion picture technologies and presentations worldwide. It offers cinematic solution comprising proprietary software, theater architecture, and equipment. The company engages in Digital Re-Mastering (DMR) of films into the IMAX format for exhibition in the IMAX theater network; the provision of IMAX premium theater systems to exhibitor customers through sales, long-term leases, or joint revenue sharing arrangements; the distribution of documentary films; the provision of production technical support and film post-production services; the ownership and operation of IMAX theaters; and the provision of camera and other miscellaneous items rental services.

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Earnings History and Estimates for Imax (NYSE:IMAX)

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