Barrington Research Comments on IMAX Co.’s Q3 2024 Earnings (NYSE:IMAX)

IMAX Co. (NYSE:IMAX) – Investment analysts at Barrington Research decreased their Q3 2024 earnings per share estimates for shares of IMAX in a research note issued to investors on Wednesday, September 25th. Barrington Research analyst J. Goss now expects that the company will earn $0.08 per share for the quarter, down from their prior estimate of $0.09. Barrington Research currently has a “Outperform” rating and a $24.00 target price on the stock. The consensus estimate for IMAX’s current full-year earnings is $0.69 per share. Barrington Research also issued estimates for IMAX’s FY2024 earnings at $0.51 EPS, Q2 2025 earnings at $0.03 EPS and FY2025 earnings at $0.53 EPS.

IMAX (NYSE:IMAX) last announced its quarterly earnings results on Thursday, July 25th. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.11. The company had revenue of $88.96 million during the quarter, compared to analysts’ expectations of $74.52 million. IMAX had a return on equity of 7.78% and a net margin of 5.97%. IMAX’s revenue was down 9.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.17 EPS.

A number of other analysts also recently weighed in on the company. Macquarie increased their price objective on IMAX from $24.00 to $26.00 and gave the company an “outperform” rating in a report on Friday, July 26th. B. Riley increased their price objective on IMAX from $27.00 to $30.00 and gave the company a “buy” rating in a report on Monday, July 8th. Seaport Res Ptn upgraded IMAX to a “strong-buy” rating in a report on Wednesday, July 24th. Wedbush increased their price objective on IMAX from $24.00 to $26.00 and gave the company an “outperform” rating in a report on Tuesday, September 3rd. Finally, Roth Mkm increased their price objective on IMAX from $23.00 to $27.00 and gave the company a “buy” rating in a report on Friday, July 26th. One analyst has rated the stock with a sell rating, two have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $23.67.

IMAX Stock Up 0.5 %

NYSE IMAX opened at $20.35 on Monday. The company has a market capitalization of $1.07 billion, a price-to-earnings ratio of 42.40, a PEG ratio of 1.38 and a beta of 1.25. IMAX has a twelve month low of $13.20 and a twelve month high of $22.13. The stock has a fifty day simple moving average of $20.41 and a 200 day simple moving average of $17.92.

Institutional Trading of IMAX

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in shares of IMAX by 13.2% in the 1st quarter. Vanguard Group Inc. now owns 584,795 shares of the company’s stock valued at $9,456,000 after buying an additional 68,155 shares during the period. GSA Capital Partners LLP acquired a new stake in shares of IMAX in the 1st quarter valued at about $1,070,000. Acadian Asset Management LLC grew its stake in shares of IMAX by 178.7% in the 1st quarter. Acadian Asset Management LLC now owns 490,917 shares of the company’s stock valued at $7,934,000 after buying an additional 314,742 shares during the period. Kodai Capital Management LP acquired a new stake in shares of IMAX in the 4th quarter valued at about $5,287,000. Finally, Principal Financial Group Inc. acquired a new stake in shares of IMAX in the 1st quarter valued at about $871,000. 93.51% of the stock is currently owned by institutional investors and hedge funds.

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.