Q3 2024 EPS Estimates for IMAX Co. Cut by Wedbush (NYSE:IMAX)

IMAX Co. (NYSE:IMAX) – Research analysts at Wedbush cut their Q3 2024 earnings estimates for shares of IMAX in a note issued to investors on Thursday, September 26th. Wedbush analyst A. Reese now anticipates that the company will post earnings of $0.20 per share for the quarter, down from their previous estimate of $0.29. Wedbush currently has a “Outperform” rating and a $26.00 target price on the stock. The consensus estimate for IMAX’s current full-year earnings is $0.69 per share. Wedbush also issued estimates for IMAX’s Q4 2024 earnings at $0.41 EPS, Q3 2025 earnings at $0.36 EPS, Q4 2025 earnings at $0.35 EPS, FY2025 earnings at $0.99 EPS and FY2026 earnings at $1.22 EPS.

Several other research firms have also recently issued reports on IMAX. Macquarie lifted their price objective on shares of IMAX from $24.00 to $26.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Barrington Research reissued an “outperform” rating and issued a $24.00 price target on shares of IMAX in a research report on Wednesday, September 25th. Rosenblatt Securities boosted their price target on shares of IMAX from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Roth Mkm boosted their price target on shares of IMAX from $23.00 to $27.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Finally, B. Riley boosted their price target on shares of IMAX from $27.00 to $30.00 and gave the company a “buy” rating in a research report on Monday, July 8th. One research analyst has rated the stock with a sell rating, two have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $23.67.

IMAX Trading Up 0.5 %

IMAX stock opened at $20.35 on Monday. The stock has a market cap of $1.07 billion, a P/E ratio of 42.40, a price-to-earnings-growth ratio of 1.38 and a beta of 1.25. The company has a fifty day simple moving average of $20.41 and a 200-day simple moving average of $17.92. IMAX has a 12-month low of $13.20 and a 12-month high of $22.13.

IMAX (NYSE:IMAX) last released its quarterly earnings data on Thursday, July 25th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.11. The business had revenue of $88.96 million during the quarter, compared to analysts’ expectations of $74.52 million. IMAX had a net margin of 5.97% and a return on equity of 7.78%. The company’s revenue for the quarter was down 9.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.17 EPS.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of IMAX. Lombard Odier Asset Management USA Corp acquired a new position in shares of IMAX during the second quarter worth about $300,000. Thrivent Financial for Lutherans increased its stake in shares of IMAX by 5.5% during the second quarter. Thrivent Financial for Lutherans now owns 819,325 shares of the company’s stock worth $13,740,000 after acquiring an additional 42,952 shares during the period. XTX Topco Ltd acquired a new position in shares of IMAX during the second quarter worth about $208,000. American Century Companies Inc. increased its stake in shares of IMAX by 57.0% during the second quarter. American Century Companies Inc. now owns 120,021 shares of the company’s stock worth $2,013,000 after acquiring an additional 43,584 shares during the period. Finally, Headlands Technologies LLC acquired a new position in shares of IMAX during the second quarter worth about $35,000. 93.51% of the stock is currently owned by institutional investors and hedge funds.

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.