Seaport Res Ptn Predicts IMAX’s FY2024 Earnings (NYSE:IMAX)

IMAX Co. (NYSE:IMAX) – Equities research analysts at Seaport Res Ptn dropped their FY2024 EPS estimates for IMAX in a report issued on Thursday, January 9th. Seaport Res Ptn analyst D. Joyce now expects that the company will earn $0.75 per share for the year, down from their prior forecast of $0.79. The consensus estimate for IMAX’s current full-year earnings is $0.77 per share. Seaport Res Ptn also issued estimates for IMAX’s Q4 2024 earnings at $0.30 EPS, Q1 2025 earnings at $0.19 EPS, Q3 2025 earnings at $0.34 EPS, FY2025 earnings at $1.22 EPS and FY2026 earnings at $1.53 EPS.

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

Other equities analysts have also issued reports about the stock. Roth Mkm increased their price objective on shares of IMAX from $27.00 to $28.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Rosenblatt Securities reiterated a “buy” rating and set a $28.00 price objective on shares of IMAX in a research note on Thursday, October 31st. JPMorgan Chase & Co. boosted their price objective on shares of IMAX from $20.00 to $21.00 and gave the company a “neutral” rating in a report on Monday, October 14th. Wedbush restated an “outperform” rating on shares of IMAX in a research note on Wednesday, November 27th. Finally, StockNews.com upgraded IMAX from a “hold” rating to a “buy” rating in a research note on Thursday, January 2nd. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $27.38.

IMAX Stock Performance

Shares of NYSE IMAX opened at $22.86 on Monday. IMAX has a fifty-two week low of $13.20 and a fifty-two week high of $26.84. The company has a market cap of $1.20 billion, a PE ratio of 51.96, a P/E/G ratio of 1.69 and a beta of 1.24. The business has a 50-day simple moving average of $25.01 and a two-hundred day simple moving average of $21.74.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in IMAX. Lord Abbett & CO. LLC acquired a new position in IMAX during the third quarter worth $6,322,000. Public Employees Retirement System of Ohio acquired a new position in shares of IMAX during the 3rd quarter worth about $1,555,000. Pier Capital LLC purchased a new position in IMAX in the 3rd quarter valued at about $4,221,000. Castleark Management LLC acquired a new stake in IMAX in the 3rd quarter worth about $5,199,000. Finally, Systematic Financial Management LP purchased a new stake in IMAX during the 3rd quarter worth approximately $838,000. Hedge funds and other institutional investors own 93.51% of the company’s stock.

Insider Buying and Selling at IMAX

In related news, EVP Robert D. Lister sold 55,910 shares of the company’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $25.50, for a total value of $1,425,705.00. Following the completion of the transaction, the executive vice president now owns 138,889 shares of the company’s stock, valued at approximately $3,541,669.50. This represents a 28.70 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Kenneth Ian Weissman sold 6,309 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $25.51, for a total value of $160,942.59. Following the completion of the sale, the insider now directly owns 25,139 shares in the company, valued at approximately $641,295.89. The trade was a 20.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 65,176 shares of company stock worth $1,662,110. Insiders own 24.08% 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.