IMAX Co. to Post Q3 2024 Earnings of $0.22 Per Share, Seaport Res Ptn Forecasts (NYSE:IMAX)

IMAX Co. (NYSE:IMAX) – Stock analysts at Seaport Res Ptn decreased their Q3 2024 earnings estimates for IMAX in a report released on Monday, October 7th. Seaport Res Ptn analyst D. Joyce now forecasts that the company will earn $0.22 per share for the quarter, down from their prior estimate of $0.26. Seaport Res Ptn has a “Strong-Buy” rating on the stock. The consensus estimate for IMAX’s current full-year earnings is $0.69 per share. Seaport Res Ptn also issued estimates for IMAX’s Q4 2024 earnings at $0.31 EPS.

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

IMAX has been the subject of a number of other research reports. Macquarie upped their target price on shares of IMAX from $24.00 to $26.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Wedbush upped their target price on shares of IMAX from $24.00 to $26.00 and gave the stock an “outperform” rating in a report on Tuesday, September 3rd. B. Riley upped their target price on shares of IMAX from $27.00 to $30.00 and gave the stock a “buy” rating in a report on Monday, July 8th. Rosenblatt Securities reissued a “buy” rating and issued a $28.00 price objective on shares of IMAX in a report on Friday, October 4th. Finally, Roth Mkm upped their price objective on shares of IMAX from $23.00 to $27.00 and gave the company a “buy” rating in a report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $23.67.

IMAX Stock Down 0.3 %

IMAX stock opened at $19.35 on Thursday. IMAX has a 52-week low of $13.20 and a 52-week high of $22.13. The firm has a market capitalization of $1.02 billion, a price-to-earnings ratio of 40.31, a PEG ratio of 1.38 and a beta of 1.25. The company has a fifty day simple moving average of $20.50 and a 200-day simple moving average of $18.12.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Headlands Technologies LLC acquired a new position in IMAX in the second quarter valued at about $35,000. PNC Financial Services Group Inc. acquired a new position in IMAX in the fourth quarter valued at about $33,000. Summit Securities Group LLC acquired a new position in IMAX in the second quarter valued at about $80,000. Laurus Investment Counsel Inc. acquired a new position in IMAX in the second quarter valued at about $150,000. Finally, XTX Topco Ltd acquired a new position in IMAX in the second quarter valued at about $208,000. Institutional investors and hedge funds own 93.51% of the company’s stock.

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.