Q3 2024 EPS Estimates for IMAX Co. (NYSE:IMAX) Reduced by Analyst

IMAX Co. (NYSE:IMAX) – Equities researchers at B. Riley decreased their Q3 2024 earnings per share (EPS) estimates for IMAX in a research note issued to investors on Thursday, October 3rd. B. Riley analyst E. Wold now anticipates that the company will post earnings of $0.09 per share for the quarter, down from their previous forecast of $0.11. B. Riley has a “Buy” rating and a $30.00 price objective on the stock. The consensus estimate for IMAX’s current full-year earnings is $0.69 per share. B. Riley also issued estimates for IMAX’s FY2024 earnings at $0.75 EPS, Q2 2025 earnings at $0.04 EPS, Q3 2025 earnings at $0.15 EPS and FY2025 earnings at $0.84 EPS.

Several other research analysts have also issued reports on IMAX. Benchmark restated a “buy” rating and set a $22.00 target price on shares of IMAX in a research report on Thursday, June 20th. Wedbush boosted their target price on IMAX from $24.00 to $26.00 and gave the company an “outperform” rating in a research report on Tuesday, September 3rd. Roth Mkm boosted their target price on IMAX from $23.00 to $27.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Barrington Research restated an “outperform” rating and set a $24.00 target price on shares of IMAX in a research report on Wednesday, September 25th. Finally, Rosenblatt Securities restated a “buy” rating and set a $28.00 target price on shares of IMAX in a research report on Friday. One equities 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 given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $23.67.

IMAX Price Performance

Shares of NYSE:IMAX opened at $19.51 on Friday. IMAX has a 1 year low of $13.20 and a 1 year high of $22.13. The business has a 50 day simple moving average of $20.57 and a two-hundred day simple moving average of $18.00. The firm has a market capitalization of $1.03 billion, a PE ratio of 41.50, a price-to-earnings-growth ratio of 1.38 and a beta of 1.25.

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

Institutional Trading of IMAX

Large investors have recently modified their holdings of the company. Private Capital Management LLC raised its stake in IMAX by 10.0% in the first quarter. Private Capital Management LLC now owns 1,304,364 shares of the company’s stock worth $21,092,000 after buying an additional 118,649 shares in the last quarter. Victory Capital Management Inc. raised its stake in IMAX by 33.1% in the second quarter. Victory Capital Management Inc. now owns 1,293,221 shares of the company’s stock worth $21,687,000 after buying an additional 321,506 shares in the last quarter. Thrivent Financial for Lutherans raised its stake in IMAX by 5.5% in the second quarter. Thrivent Financial for Lutherans now owns 819,325 shares of the company’s stock worth $13,740,000 after buying an additional 42,952 shares in the last quarter. Bank of New York Mellon Corp raised its stake in IMAX by 90.6% in the second quarter. Bank of New York Mellon Corp now owns 587,694 shares of the company’s stock worth $9,856,000 after buying an additional 279,410 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in IMAX by 13.2% in the first quarter. Vanguard Group Inc. now owns 584,795 shares of the company’s stock worth $9,456,000 after buying an additional 68,155 shares in the last quarter. Hedge funds and other institutional investors own 93.51% of the company’s stock.

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.