Wall Street brokerages expect that Imax Corp (NYSE:IMAX) will announce earnings per share of $0.11 for the current quarter, Zacks reports. Five analysts have issued estimates for Imax’s earnings, with the highest EPS estimate coming in at $0.15 and the lowest estimate coming in at $0.05. Imax posted earnings per share of $0.06 during the same quarter last year, which indicates a positive year-over-year growth rate of 83.3%. The company is expected to announce its next quarterly earnings report on Thursday, April 19th.
According to Zacks, analysts expect that Imax will report full-year earnings of $0.90 per share for the current year, with EPS estimates ranging from $0.65 to $1.06. For the next fiscal year, analysts anticipate that the company will post earnings of $1.02 per share, with EPS estimates ranging from $0.62 to $1.21. Zacks Investment Research’s EPS averages are a mean average based on a survey of analysts that that provide coverage for Imax.
A number of brokerages have issued reports on IMAX. B. Riley reaffirmed a “buy” rating and set a $35.00 price objective on shares of Imax in a report on Monday, December 11th. ValuEngine downgraded Imax from a “hold” rating to a “sell” rating in a research report on Sunday, December 31st. Zacks Investment Research downgraded Imax from a “buy” rating to a “hold” rating in a research report on Wednesday, December 27th. JPMorgan Chase & Co. began coverage on Imax in a research report on Tuesday, February 20th. They set an “overweight” rating and a $28.00 target price for the company. Finally, Wedbush restated an “outperform” rating and issued a $30.00 price objective on shares of Imax in a report on Tuesday, February 20th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company. Imax presently has a consensus rating of “Hold” and a consensus price target of $28.63.
In related news, CFO Patrick Mcclymont sold 2,811 shares of the business’s stock in a transaction that occurred on Thursday, March 8th. The stock was sold at an average price of $20.40, for a total transaction of $57,344.40. Following the completion of the sale, the chief financial officer now directly owns 2,145 shares in the company, valued at $43,758. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Greg Foster sold 4,889 shares of the business’s stock in a transaction that occurred on Thursday, March 8th. The stock was sold at an average price of $20.40, for a total value of $99,735.60. Following the sale, the chief executive officer now owns 77,604 shares of the company’s stock, valued at $1,583,121.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 31,694 shares of company stock valued at $682,528. Corporate insiders own 18.90% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of IMAX. Crow Point Partners LLC purchased a new stake in Imax in the 4th quarter valued at $103,000. Invictus RG purchased a new position in Imax during the 4th quarter worth approximately $213,000. Formula Growth Ltd. purchased a new position in shares of Imax in the 3rd quarter valued at approximately $222,000. First Mercantile Trust Co. purchased a new position in shares of Imax in the 4th quarter valued at approximately $231,000. Finally, Foundry Partners LLC purchased a new position in shares of Imax in the 4th quarter valued at approximately $244,000. Hedge funds and other institutional investors own 84.63% of the company’s stock.
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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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