Barrington Research Comments on IMAX Co.’s Q3 2024 Earnings (NYSE:IMAX)

IMAX Co. (NYSE:IMAX) – Research analysts at Barrington Research reduced their Q3 2024 earnings per share (EPS) estimates for IMAX in a report released on Wednesday, September 25th. Barrington Research analyst J. Goss now forecasts that the company will earn $0.08 per share for the quarter, down from their previous estimate of $0.09. Barrington Research has a “Outperform” rating and a $24.00 price target on the stock. The consensus estimate for IMAX’s current full-year earnings is $0.69 per share. Barrington Research also issued estimates for IMAX’s FY2024 earnings at $0.51 EPS, Q2 2025 earnings at $0.03 EPS and FY2025 earnings at $0.53 EPS.

Several other research firms also recently commented on IMAX. Seaport Res Ptn raised IMAX to a “strong-buy” rating in a research report on Wednesday, July 24th. B. Riley upped their target price on IMAX from $27.00 to $30.00 and gave the company a “buy” rating in a research report on Monday, July 8th. Rosenblatt Securities upped their target price on IMAX from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Roth Mkm upped their target price on IMAX from $23.00 to $27.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Finally, Benchmark reaffirmed a “buy” rating and issued a $22.00 target price on shares of IMAX in a research report on Thursday, June 20th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $23.67.

IMAX Stock Up 0.5 %

Shares of NYSE IMAX opened at $20.35 on Monday. The business’s 50 day moving average price is $20.41 and its two-hundred day moving average price is $17.92. The company has a market cap of $1.07 billion, a PE ratio of 42.40, a price-to-earnings-growth ratio of 1.38 and a beta of 1.25. IMAX has a twelve month low of $13.20 and a twelve month high of $22.13.

IMAX (NYSE:IMAX) last announced its quarterly earnings results on Thursday, July 25th. The company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.11. The firm had revenue of $88.96 million for the quarter, compared to the consensus estimate of $74.52 million. IMAX had a return on equity of 7.78% and a net margin of 5.97%. The business’s revenue was down 9.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.17 earnings per share.

Institutional Investors Weigh In On IMAX

Large investors have recently added to or reduced their stakes in the stock. Headlands Technologies LLC bought a new stake in IMAX during the second quarter worth $35,000. Price T Rowe Associates Inc. MD lifted its stake in IMAX by 19.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 13,082 shares of the company’s stock worth $212,000 after purchasing an additional 2,153 shares during the last quarter. PNC Financial Services Group Inc. bought a new stake in IMAX during the fourth quarter worth $33,000. Summit Securities Group LLC bought a new stake in IMAX during the second quarter worth $80,000. Finally, Partnership Wealth Management LLC lifted its stake in IMAX by 63.1% during the first quarter. Partnership Wealth Management LLC now owns 12,932 shares of the company’s stock worth $209,000 after purchasing an additional 5,005 shares during the last quarter. Institutional investors and hedge funds 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.