IMAX Co. (NYSE:IMAX) to Post FY2024 Earnings of $0.73 Per Share, Seaport Res Ptn Forecasts

IMAX Co. (NYSE:IMAX) – Analysts at Seaport Res Ptn raised their FY2024 earnings per share (EPS) estimates for shares of IMAX in a research report issued on Monday, October 7th. Seaport Res Ptn analyst D. Joyce now forecasts that the company will earn $0.73 per share for the year, up from their prior estimate of $0.70. 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 Q1 2025 earnings at $0.19 EPS, Q2 2025 earnings at $0.14 EPS, Q3 2025 earnings at $0.27 EPS, Q4 2025 earnings at $0.41 EPS, FY2025 earnings at $1.02 EPS and FY2026 earnings at $1.17 EPS.

IMAX (NYSE:IMAX) last posted its quarterly earnings data on Thursday, July 25th. The company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.11. The firm 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%. The firm’s quarterly revenue was down 9.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.17 EPS.

Other equities research analysts have also recently issued research reports about the company. Rosenblatt Securities restated a “buy” rating and set a $28.00 price objective on shares of IMAX in a report on Friday, October 4th. B. Riley increased their target price on shares of IMAX from $27.00 to $30.00 and gave the stock a “buy” rating in a research report on Monday, July 8th. Barrington Research restated an “outperform” rating and issued a $24.00 price target on shares of IMAX in a report on Wednesday, September 25th. Macquarie boosted their price objective on shares of IMAX from $24.00 to $26.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $27.00 price target on shares of IMAX in a research report on Thursday. One research analyst has rated the stock with a sell rating, two have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $23.67.

IMAX Stock Performance

IMAX stock opened at $20.17 on Wednesday. The company has a 50 day moving average price of $20.48 and a two-hundred day moving average price of $18.13. The stock has a market capitalization of $1.06 billion, a P/E ratio of 42.02, a PEG ratio of 1.38 and a beta of 1.25. IMAX has a one year low of $13.20 and a one year high of $22.13.

Hedge Funds Weigh In On IMAX

Several institutional investors and hedge funds have recently made changes to their positions in the business. Quadrature Capital Ltd increased its holdings in IMAX by 9.9% in the fourth quarter. Quadrature Capital Ltd now owns 60,867 shares of the company’s stock valued at $914,000 after buying an additional 5,470 shares during the last quarter. PNC Financial Services Group Inc. acquired a new stake in shares of IMAX during the 4th quarter worth approximately $33,000. Partnership Wealth Management LLC lifted its holdings in shares of IMAX by 63.1% in the 1st quarter. Partnership Wealth Management LLC now owns 12,932 shares of the company’s stock worth $209,000 after purchasing an additional 5,005 shares during the last quarter. Private Capital Management LLC lifted its holdings in shares of IMAX by 54.3% in the 4th quarter. Private Capital Management LLC now owns 1,185,715 shares of the company’s stock worth $17,809,000 after purchasing an additional 417,169 shares during the last quarter. Finally, Principal Financial Group Inc. acquired a new position in IMAX during the 1st quarter valued at approximately $871,000. 93.51% of the stock is currently owned by hedge funds and other institutional investors.

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.