Wedbush Issues Pessimistic Estimate for IMAX Earnings

IMAX Co. (NYSE:IMAX) – Equities research analysts at Wedbush decreased their FY2024 earnings per share estimates for shares of IMAX in a note issued to investors on Wednesday, November 27th. Wedbush analyst A. Reese now expects that the company will post earnings of $0.78 per share for the year, down from their previous estimate of $0.87. Wedbush currently has a “Outperform” rating on the stock. The consensus estimate for IMAX’s current full-year earnings is $0.77 per share. Wedbush also issued estimates for IMAX’s Q4 2024 earnings at $0.35 EPS and Q2 2025 earnings at $0.12 EPS.

Other equities analysts also recently issued reports about the company. JPMorgan Chase & Co. upped their price target on IMAX from $20.00 to $21.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. Barrington Research reaffirmed an “outperform” rating and set a $24.00 target price on shares of IMAX in a research report on Thursday, October 31st. Roth Mkm increased their price target on IMAX from $27.00 to $28.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Rosenblatt Securities restated a “buy” rating and set a $28.00 price target on shares of IMAX in a research note on Thursday, October 31st. Finally, StockNews.com lowered shares of IMAX from a “buy” rating to a “hold” rating 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, IMAX currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.22.

IMAX Stock Up 1.6 %

NYSE:IMAX opened at $26.73 on Monday. The stock has a market capitalization of $1.41 billion, a price-to-earnings ratio of 59.82, a PEG ratio of 1.68 and a beta of 1.22. IMAX has a 52 week low of $13.20 and a 52 week high of $26.84. The firm has a 50 day moving average of $22.31 and a 200 day moving average of $19.83.

IMAX (NYSE:IMAX) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.23 by $0.12. IMAX had a net margin of 6.74% and a return on equity of 7.53%. The business had revenue of $91.50 million during the quarter, compared to analyst estimates of $93.71 million. During the same period in the prior year, the firm posted $0.27 earnings per share. The company’s quarterly revenue was down 11.9% on a year-over-year basis.

Institutional Investors Weigh In On IMAX

A number of large investors have recently bought and sold shares of IMAX. Huntington National Bank acquired a new stake in IMAX during the 3rd quarter worth about $34,000. Headlands Technologies LLC purchased a new stake in shares of IMAX in the second quarter worth about $35,000. Quarry LP grew its holdings in IMAX by 78,333.3% during the third quarter. Quarry LP now owns 2,353 shares of the company’s stock worth $48,000 after acquiring an additional 2,350 shares during the period. nVerses Capital LLC purchased a new position in IMAX during the third quarter valued at approximately $70,000. Finally, Summit Securities Group LLC acquired a new position in IMAX in the second quarter valued at approximately $80,000. 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.