$127.23 Million in Sales Expected for Imax Corporation (IMAX) This Quarter

Wall Street analysts expect Imax Corporation (NYSE:IMAX) to report $127.23 million in sales for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for Imax’s earnings. The lowest sales estimate is $122.50 million and the highest is $130.67 million. Imax reported sales of $106.91 million during the same quarter last year, which indicates a positive year-over-year growth rate of 19%. The firm is expected to report its next quarterly earnings results on Thursday, February 22nd.

On average, analysts expect that Imax will report full-year sales of $127.23 million for the current fiscal year, with estimates ranging from $377.80 million to $385.90 million. For the next fiscal year, analysts forecast that the company will report sales of $407.88 million per share, with estimates ranging from $395.40 million to $422.80 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Imax.

Imax (NYSE:IMAX) last posted its quarterly earnings data on Thursday, October 26th. The company reported $0.08 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.07. Imax had a net margin of 1.78% and a return on equity of 2.62%. The company had revenue of $98.80 million for the quarter, compared to analyst estimates of $86.17 million. During the same period in the prior year, the company posted $0.12 EPS. The firm’s revenue for the quarter was up 14.2% on a year-over-year basis.

IMAX has been the topic of a number of recent analyst reports. Zacks Investment Research raised shares of Imax from a “sell” rating to a “hold” rating in a research report on Tuesday, September 12th. BidaskClub raised shares of Imax from a “strong sell” rating to a “sell” rating in a research report on Thursday, September 14th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $28.00 target price on shares of Imax in a research report on Sunday, September 17th. Credit Suisse Group reduced their target price on shares of Imax from $26.00 to $25.00 and set a “neutral” rating on the stock in a research report on Thursday, September 28th. Finally, Wedbush reaffirmed a “buy” rating and set a $29.00 target price on shares of Imax in a research report on Tuesday, October 10th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $30.10.

Imax (IMAX) traded down $0.62 during trading on Thursday, reaching $22.45. 621,694 shares of the company were exchanged, compared to its average volume of 707,788. Imax has a 12 month low of $17.58 and a 12 month high of $34.60. The stock has a market cap of $1,450.00, a price-to-earnings ratio of 224.50, a P/E/G ratio of 1.17 and a beta of 1.13.

In other news, CEO Greg Foster sold 3,566 shares of the stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $23.97, for a total transaction of $85,477.02. Following the transaction, the chief executive officer now directly owns 74,696 shares in the company, valued at $1,790,463.12. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Robert D. Lister sold 3,528 shares of the stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $23.97, for a total transaction of $84,566.16. Following the transaction, the insider now owns 35,594 shares in the company, valued at $853,188.18. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 17,050 shares of company stock worth $425,276. Corporate insiders own 18.90% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cubist Systematic Strategies LLC boosted its stake in shares of Imax by 98.4% during the third quarter. Cubist Systematic Strategies LLC now owns 56,251 shares of the company’s stock valued at $1,274,000 after purchasing an additional 27,893 shares in the last quarter. Janus Henderson Group PLC boosted its stake in Imax by 90.2% in the third quarter. Janus Henderson Group PLC now owns 1,068,456 shares of the company’s stock valued at $24,201,000 after acquiring an additional 506,705 shares in the last quarter. Crestwood Capital Management L.P. acquired a new stake in Imax in the third quarter valued at approximately $6,116,000. Vivaldi Asset Management LLC acquired a new stake in Imax in the third quarter valued at approximately $10,670,000. Finally, Formula Growth Ltd. acquired a new stake in Imax in the third quarter valued at approximately $222,000. Hedge funds and other institutional investors own 83.91% of the company’s stock.

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About Imax

IMAX Corporation is an entertainment technology company. The Company operates through seven segments: IMAX systems; theater system maintenance; joint revenue sharing arrangements; film production and IMAX DMR; film distribution; film post-production, and other. The IMAX systems segment designs, manufactures, sells or leases IMAX theater projection system equipment.

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