Seaport Res Ptn Estimates IMAX’s FY2024 Earnings (NYSE:IMAX)

IMAX Co. (NYSE:IMAX) – Equities research analysts at Seaport Res Ptn reduced their FY2024 EPS estimates for shares of IMAX in a research report issued on Monday, December 9th. Seaport Res Ptn analyst D. Joyce now anticipates that the company will post earnings of $0.79 per share for the year, down from their prior estimate of $0.80. The consensus estimate for IMAX’s current full-year earnings is $0.77 per share. Seaport Res Ptn also issued estimates for IMAX’s Q4 2024 earnings at $0.34 EPS, Q1 2025 earnings at $0.20 EPS and Q2 2025 earnings at $0.22 EPS.

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

A number of other research firms have also weighed in on IMAX. Rosenblatt Securities reissued a “buy” rating and issued a $28.00 target price on shares of IMAX in a report on Thursday, October 31st. StockNews.com lowered shares of IMAX from a “buy” rating to a “hold” rating in a research report on Tuesday. Barrington Research restated an “outperform” rating and issued a $24.00 target price on shares of IMAX in a report on Thursday, October 31st. JPMorgan Chase & Co. increased their price target on shares of IMAX from $20.00 to $21.00 and gave the company a “neutral” rating in a report on Monday, October 14th. Finally, Wedbush reissued an “outperform” rating on shares of IMAX in a research note on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, IMAX presently has an average rating of “Moderate Buy” and a consensus target price of $25.11.

IMAX Price Performance

NYSE IMAX opened at $26.03 on Thursday. The stock has a market capitalization of $1.37 billion, a PE ratio of 59.16, a P/E/G ratio of 1.69 and a beta of 1.23. IMAX has a 1-year low of $13.20 and a 1-year high of $26.84. The business has a 50 day simple moving average of $23.52 and a two-hundred day simple moving average of $20.42.

Insider Buying and Selling

In other news, EVP Robert D. Lister sold 55,910 shares of IMAX stock in a transaction on Monday, December 9th. The stock was sold at an average price of $25.50, for a total transaction of $1,425,705.00. Following the completion of the sale, the executive vice president now directly owns 138,889 shares in the company, valued at approximately $3,541,669.50. This trade represents a 28.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kenneth Ian Weissman sold 6,309 shares of the business’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $25.51, for a total transaction of $160,942.59. Following the sale, the insider now directly owns 25,139 shares of the company’s stock, valued at $641,295.89. This represents a 20.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 65,176 shares of company stock valued at $1,662,110 in the last ninety days. 24.08% of the stock is owned by company insiders.

Hedge Funds Weigh In On IMAX

Institutional investors have recently modified their holdings of the stock. Huntington National Bank purchased a new position in shares of IMAX during the third quarter valued at $34,000. Headlands Technologies LLC purchased a new stake in IMAX in the second quarter worth about $35,000. Quarry LP grew its holdings in IMAX by 78,333.3% during the 3rd quarter. Quarry LP now owns 2,353 shares of the company’s stock worth $48,000 after acquiring an additional 2,350 shares in the last quarter. nVerses Capital LLC purchased a new position in IMAX during the 3rd quarter valued at about $70,000. Finally, Summit Securities Group LLC bought a new stake in shares of IMAX in the 2nd quarter valued at about $80,000. 93.51% of the stock is owned by hedge funds and other institutional investors.

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.