Q1 2024 Earnings Forecast for IMAX Co. Issued By Wedbush (NYSE:IMAX)

IMAX Co. (NYSE:IMAX) – Research analysts at Wedbush raised their Q1 2024 earnings per share (EPS) estimates for shares of IMAX in a report released on Thursday, April 18th. Wedbush analyst A. Reese now forecasts that the company will post earnings per share of $0.08 for the quarter, up from their prior estimate of $0.02. Wedbush currently has a “Outperform” rating and a $22.00 target price on the stock. The consensus estimate for IMAX’s current full-year earnings is $0.56 per share. Wedbush also issued estimates for IMAX’s Q4 2024 earnings at $0.37 EPS, FY2024 earnings at $0.87 EPS, Q3 2025 earnings at $0.41 EPS and FY2026 earnings at $1.50 EPS.

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

Other analysts have also recently issued research reports about the company. JPMorgan Chase & Co. lowered their price target on IMAX from $20.00 to $17.00 and set a “neutral” rating for the company in a research report on Tuesday, February 6th. Barrington Research reaffirmed an “outperform” rating and set a $24.00 price target on shares of IMAX in a research report on Monday. Benchmark reaffirmed a “buy” rating and set a $22.00 price target on shares of IMAX in a research report on Tuesday, April 16th. The Goldman Sachs Group lowered their price target on IMAX from $15.00 to $13.00 and set a “sell” rating for the company in a research report on Thursday, January 11th. Finally, B. Riley decreased their price objective on IMAX from $27.00 to $21.00 and set a “buy” rating for the company in a report on Tuesday, January 2nd. One research 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. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $20.57.

IMAX Price Performance

IMAX stock opened at $17.44 on Monday. The stock has a market capitalization of $923.45 million, a price-to-earnings ratio of 37.91, a PEG ratio of 1.52 and a beta of 1.25. IMAX has a 1-year low of $13.20 and a 1-year high of $21.82. The business has a fifty day moving average price of $16.25 and a 200-day moving average price of $16.08.

Insider Activity

In related news, VP Robert D. Lister sold 25,000 shares of IMAX 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 completion of the transaction, the vice president now owns 138,889 shares in the company, valued at approximately $2,343,057.43. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 24.33% of the company’s stock.

Hedge Funds Weigh In On IMAX

Institutional investors and hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP increased its stake in IMAX by 0.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,454,524 shares of the company’s stock worth $21,847,000 after buying an additional 10,358 shares in the last quarter. Private Capital Management LLC increased its stake in IMAX by 54.3% during the 4th quarter. Private Capital Management LLC now owns 1,185,715 shares of the company’s stock worth $17,809,000 after buying an additional 417,169 shares in the last quarter. Victory Capital Management Inc. increased its stake in IMAX by 13.0% during the 4th quarter. Victory Capital Management Inc. now owns 825,319 shares of the company’s stock worth $12,396,000 after buying an additional 95,182 shares in the last quarter. Alpine Woods Capital Investors LLC increased its stake in IMAX by 33.8% during the 3rd 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 in the last quarter. Finally, Mizuho Markets Americas LLC purchased a new stake in IMAX during the 3rd quarter worth approximately $7,118,000. Hedge funds and other institutional investors own 93.51% of the company’s stock.

IMAX Company Profile

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.