Zacks Research Issues Negative Estimate for IMAX Earnings

IMAX Co. (NYSE:IMAX) – Equities research analysts at Zacks Research lowered their Q4 2024 EPS estimates for shares of IMAX in a report issued on Wednesday, November 20th. Zacks Research analyst R. Department now expects that the company will post earnings per share of $0.27 for the quarter, down from their prior forecast of $0.28. The consensus estimate for IMAX’s current full-year earnings is $0.76 per share. Zacks Research also issued estimates for IMAX’s Q1 2025 earnings at $0.10 EPS, Q2 2025 earnings at $0.10 EPS, Q3 2025 earnings at $0.19 EPS and Q3 2026 earnings at $0.18 EPS.

A number of other brokerages also recently commented on IMAX. Rosenblatt Securities reiterated a “buy” rating and set a $28.00 price target on shares of IMAX in a report on Thursday, October 31st. StockNews.com cut shares of IMAX from a “buy” rating to a “hold” rating in a research note on Thursday. JPMorgan Chase & Co. increased their price target on IMAX from $20.00 to $21.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. Roth Mkm raised their price objective on IMAX from $27.00 to $28.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Finally, Barrington Research reiterated an “outperform” rating and issued a $24.00 target price on shares of IMAX in a research note on Thursday, October 31st. One research analyst has rated the stock with a sell rating, two have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $24.22.

IMAX Trading Up 1.9 %

IMAX stock opened at $25.19 on Friday. The stock has a 50-day moving average price of $21.77 and a 200 day moving average price of $19.50. IMAX has a 52 week low of $13.20 and a 52 week high of $25.51. The stock has a market cap of $1.33 billion, a PE ratio of 57.25, a P/E/G ratio of 1.62 and a beta of 1.22.

IMAX (NYSE:IMAX) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.12. IMAX had a return on equity of 7.53% and a net margin of 6.74%. The company had revenue of $91.50 million during the quarter, compared to the consensus estimate of $93.71 million. During the same quarter last year, the business posted $0.27 earnings per share. IMAX’s revenue was down 11.9% compared to the same quarter last year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Huntington National Bank purchased a new stake in shares of IMAX in the third quarter worth about $34,000. Headlands Technologies LLC acquired a new position in IMAX during the 2nd quarter worth approximately $35,000. Quarry LP boosted its holdings in IMAX by 78,333.3% in the 3rd quarter. Quarry LP now owns 2,353 shares of the company’s stock worth $48,000 after acquiring an additional 2,350 shares during the period. nVerses Capital LLC acquired a new stake in IMAX in the third quarter valued at approximately $70,000. Finally, Summit Securities Group LLC purchased a new stake in shares of IMAX during the second quarter valued at approximately $80,000. 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.