FY2024 Earnings Estimate for IMAX Co. (NYSE:IMAX) Issued By Roth Capital

IMAX Co. (NYSE:IMAX) – Equities research analysts at Roth Capital decreased their FY2024 earnings estimates for IMAX in a research report issued on Wednesday, April 10th. Roth Capital analyst E. Handler now anticipates that the company will post earnings of $0.59 per share for the year, down from their prior forecast 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 also recently issued reports about the stock. StockNews.com downgraded shares of IMAX from a “buy” rating to a “hold” rating in a report on Saturday, January 27th. JPMorgan Chase & Co. reduced their price target on shares of IMAX from $20.00 to $17.00 and set a “neutral” rating for the company in a report on Tuesday, February 6th. B. Riley reduced their price target on shares of IMAX from $27.00 to $21.00 and set a “buy” rating for the company in a report on Tuesday, January 2nd. Wedbush reissued an “outperform” rating and issued a $22.00 price target on shares of IMAX in a report on Wednesday, April 10th. Finally, Rosenblatt Securities reduced their price target on shares of IMAX from $30.00 to $25.00 and set a “buy” rating for the company in a report on Tuesday, February 13th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $20.57.

IMAX Stock Up 3.3 %

IMAX stock opened at $16.88 on Monday. The company has a market capitalization of $893.55 million, a price-to-earnings ratio of 36.68, a P/E/G ratio of 1.43 and a beta of 1.25. IMAX has a 12 month low of $13.20 and a 12 month high of $21.82. The firm has a 50 day moving average of $15.93 and a two-hundred day moving average of $16.15.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Swiss National Bank raised its holdings in IMAX by 8.5% during the 3rd quarter. Swiss National Bank now owns 102,000 shares of the company’s stock worth $1,971,000 after buying an additional 8,000 shares during the period. Mizuho Markets Americas LLC acquired a new stake in IMAX during the 3rd quarter worth approximately $7,118,000. Alpine Woods Capital Investors LLC raised its holdings in IMAX by 33.8% during the 3rd quarter. Alpine Woods Capital Investors LLC now owns 392,278 shares of the company’s stock worth $7,579,000 after buying an additional 99,163 shares during the period. GTS Securities LLC acquired a new stake in IMAX during the 3rd quarter worth approximately $1,092,000. Finally, HighTower Advisors LLC raised its holdings in IMAX by 562.8% during the 3rd quarter. HighTower Advisors LLC now owns 77,338 shares of the company’s stock worth $1,480,000 after buying an additional 65,670 shares during the period. Institutional investors own 93.51% of the company’s stock.

Insider Activity

In other news, VP Robert D. Lister sold 25,000 shares of the firm’s 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 transaction, the vice president now owns 138,889 shares of the company’s stock, valued at approximately $2,343,057.43. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 24.33% of the company’s stock.

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.