Roth Capital Brokers Decrease Earnings Estimates for IMAX Co. (NYSE:IMAX)

IMAX Co. (NYSE:IMAX) – Analysts at Roth Capital lowered their Q3 2024 earnings per share estimates for IMAX in a research report issued to clients and investors on Thursday, October 10th. Roth Capital analyst E. Handler now expects that the company will earn $0.17 per share for the quarter, down from their prior estimate of $0.19. The consensus estimate for IMAX’s current full-year earnings is $0.69 per share. Roth Capital also issued estimates for IMAX’s FY2025 earnings at $0.93 EPS.

Other equities research analysts have also issued research reports about the stock. Barrington Research reiterated an “outperform” rating and set a $24.00 price objective on shares of IMAX in a report on Wednesday, September 25th. B. Riley lifted their price target on shares of IMAX from $27.00 to $30.00 and gave the company a “buy” rating in a research note on Monday, July 8th. Seaport Res Ptn raised IMAX to a “strong-buy” rating in a research note on Wednesday, July 24th. Benchmark reaffirmed a “buy” rating and set a $22.00 target price on shares of IMAX in a research report on Thursday, June 20th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $28.00 target price on shares of IMAX in a report on Friday, October 4th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $23.67.

IMAX Trading Up 7.6 %

Shares of IMAX opened at $21.70 on Friday. The firm has a fifty day moving average price of $20.48 and a 200-day moving average price of $18.17. The firm has a market capitalization of $1.14 billion, a P/E ratio of 54.25, a P/E/G ratio of 1.41 and a beta of 1.25. IMAX has a 12-month low of $13.20 and a 12-month high of $22.13.

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. PNC Financial Services Group Inc. purchased a new stake in IMAX during the fourth quarter valued at approximately $33,000. Headlands Technologies LLC purchased a new stake in shares of IMAX during the 2nd quarter valued at $35,000. Summit Securities Group LLC acquired a new stake in shares of IMAX in the 2nd quarter worth $80,000. Laurus Investment Counsel Inc. purchased a new position in IMAX during the 2nd quarter worth $150,000. Finally, XTX Topco Ltd acquired a new position in IMAX during the 2nd quarter valued at about $208,000. 93.51% of the stock is owned by institutional investors.

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.