FY2024 Earnings Estimate for IMAX Co. (NYSE:IMAX) Issued By Roth Capital

IMAX Co. (NYSE:IMAX) – Stock analysts at Roth Capital lowered their FY2024 earnings per share estimates for IMAX in a research note issued to investors on Wednesday, April 10th. Roth Capital analyst E. Handler now forecasts that the company will post earnings of $0.59 per share for the year, down from their previous forecast of $0.62. The consensus estimate for IMAX’s current full-year earnings is $0.58 per share. Roth Capital also issued estimates for IMAX’s FY2025 earnings at $0.93 EPS and FY2026 earnings at $1.07 EPS.

IMAX (NYSE:IMAX) last released its quarterly earnings results on Tuesday, February 27th. The company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.12. IMAX had a return on equity of 9.59% and a net margin of 6.76%. The company had revenue of $86.02 million for the quarter, compared to analyst estimates of $85.83 million. During the same period in the previous year, the company posted $0.05 earnings per share. The firm’s revenue was down 12.3% on a year-over-year basis.

Several other equities research analysts also recently commented on the company. The Goldman Sachs Group dropped their target price on IMAX from $15.00 to $13.00 and set a “sell” rating on the stock in a report on Thursday, January 11th. JPMorgan Chase & Co. dropped their target price on IMAX from $20.00 to $17.00 and set a “neutral” rating on the stock in a report on Tuesday, February 6th. Rosenblatt Securities dropped their target price on IMAX from $30.00 to $25.00 and set a “buy” rating on the stock in a report on Tuesday, February 13th. Benchmark reissued a “buy” rating and issued a $22.00 target price on shares of IMAX in a report on Tuesday. Finally, Wedbush restated an “outperform” rating and issued a $22.00 price target on shares of IMAX in a research note on Wednesday, April 10th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.57.

IMAX Stock Up 3.3 %

NYSE IMAX opened at $16.88 on Monday. IMAX has a twelve month low of $13.20 and a twelve month high of $21.82. The firm has a market capitalization of $893.55 million, a PE ratio of 36.68, a P/E/G ratio of 1.43 and a beta of 1.25. The stock’s 50 day moving average is $15.93 and its 200 day moving average is $16.15.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Swiss National Bank lifted its holdings in IMAX by 8.5% in the third quarter. Swiss National Bank now owns 102,000 shares of the company’s stock valued at $1,971,000 after acquiring an additional 8,000 shares during the period. Mizuho Markets Americas LLC bought a new position in shares of IMAX in the third quarter worth about $7,118,000. Alpine Woods Capital Investors LLC raised its stake in shares of IMAX by 33.8% in the third quarter. Alpine Woods Capital Investors LLC now owns 392,278 shares of the company’s stock worth $7,579,000 after buying an additional 99,163 shares during the period. GTS Securities LLC bought a new position in shares of IMAX in the third quarter worth about $1,092,000. Finally, HighTower Advisors LLC raised its stake in shares of IMAX by 562.8% in the third quarter. HighTower Advisors LLC now owns 77,338 shares of the company’s stock worth $1,480,000 after buying an additional 65,670 shares during the period. Institutional investors own 93.51% of the company’s stock.

Insider Transactions at IMAX

In other IMAX news, VP Robert D. Lister sold 25,000 shares of the stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $16.87, for a total value of $421,750.00. Following the transaction, the vice president now owns 138,889 shares of the company’s stock, valued at $2,343,057.43. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 24.33% 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.