Q3 2024 Earnings Estimate for IMAX Co. (NYSE:IMAX) Issued By Seaport Res Ptn

IMAX Co. (NYSE:IMAX) – Equities research analysts at Seaport Res Ptn decreased their Q3 2024 earnings estimates for shares of IMAX in a research note issued on Monday, October 7th. Seaport Res Ptn analyst D. Joyce now forecasts that the company will post earnings of $0.22 per share for the quarter, down from their previous estimate of $0.26. Seaport Res Ptn has a “Strong-Buy” rating on the stock. The consensus estimate for IMAX’s current full-year earnings is $0.69 per share. Seaport Res Ptn also issued estimates for IMAX’s Q4 2024 earnings at $0.31 EPS.

A number of other equities research analysts have also commented on IMAX. Macquarie upped their target price on IMAX from $24.00 to $26.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Wedbush increased their price target on IMAX from $24.00 to $26.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 3rd. B. Riley lifted their target price on shares of IMAX from $27.00 to $30.00 and gave the company a “buy” rating in a report on Monday, July 8th. Benchmark reaffirmed a “buy” rating and issued a $22.00 price target on shares of IMAX in a report on Thursday, June 20th. Finally, Roth Mkm restated a “buy” rating and issued a $27.00 price objective on shares of IMAX in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, two have issued 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, the stock currently has an average rating of “Moderate Buy” and an average target price of $23.67.

IMAX Stock Performance

Shares of IMAX stock opened at $20.17 on Thursday. IMAX has a fifty-two week low of $13.20 and a fifty-two week high of $22.13. The firm has a market capitalization of $1.06 billion, a PE ratio of 42.02, a P/E/G ratio of 1.38 and a beta of 1.25. The stock’s 50-day simple moving average is $20.48 and its 200-day simple moving average is $18.13.

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

Institutional Investors Weigh In On IMAX

A number of large investors have recently modified their holdings of the business. PNC Financial Services Group Inc. acquired a new stake in IMAX during the fourth quarter worth about $33,000. Headlands Technologies LLC purchased a new stake in IMAX in the 2nd quarter valued at about $35,000. Summit Securities Group LLC acquired a new position in IMAX in the second quarter valued at about $80,000. Laurus Investment Counsel Inc. purchased a new position in IMAX during the second quarter worth about $150,000. Finally, XTX Topco Ltd acquired a new stake in shares of IMAX during the second quarter valued at about $208,000. Hedge funds and other institutional investors own 93.51% 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.