Wedbush Brokers Boost Earnings Estimates for IMAX Co. (NYSE:IMAX)

IMAX Co. (NYSE:IMAX) – Stock analysts at Wedbush boosted their Q4 2024 earnings estimates for IMAX in a research report issued to clients and investors on Tuesday, September 3rd. Wedbush analyst A. Reese now forecasts that the company will post earnings of $0.36 per share for the quarter, up from their previous estimate of $0.34. Wedbush has a “Outperform” rating and a $26.00 price objective on the stock. The consensus estimate for IMAX’s current full-year earnings is $0.69 per share. Wedbush also issued estimates for IMAX’s Q2 2025 earnings at $0.10 EPS, Q4 2025 earnings at $0.32 EPS, FY2025 earnings at $0.96 EPS and FY2026 earnings at $1.19 EPS.

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

Other research analysts have also recently issued reports about the stock. Seaport Res Ptn raised shares of IMAX to a “strong-buy” rating in a report on Wednesday, July 24th. Macquarie boosted their price objective on shares of IMAX from $24.00 to $26.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Barrington Research reissued an “outperform” rating and set a $25.00 price objective on shares of IMAX in a report on Friday, July 26th. Benchmark reissued a “buy” rating and set a $22.00 price objective on shares of IMAX in a report on Thursday, June 20th. Finally, Roth Mkm boosted their target price on shares of IMAX from $23.00 to $27.00 and gave the company a “buy” rating in a research report on Friday, July 26th. One 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, the stock has an average rating of “Moderate Buy” and an average price target of $23.78.

IMAX Stock Up 1.3 %

IMAX opened at $21.87 on Thursday. The firm has a 50 day moving average price of $19.35 and a 200-day moving average price of $17.45. IMAX has a twelve month low of $13.20 and a twelve month high of $22.13. The stock has a market capitalization of $1.15 billion, a price-to-earnings ratio of 45.56, a PEG ratio of 1.53 and a beta of 1.25.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in IMAX. Private Capital Management LLC raised its stake in IMAX by 54.3% during the 4th quarter. Private Capital Management LLC now owns 1,185,715 shares of the company’s stock valued at $17,809,000 after purchasing an additional 417,169 shares during the period. Kodai Capital Management LP bought a new stake in IMAX during the 4th quarter valued at approximately $5,287,000. Victory Capital Management Inc. raised its stake in IMAX by 33.1% during the 2nd quarter. Victory Capital Management Inc. now owns 1,293,221 shares of the company’s stock valued at $21,687,000 after purchasing an additional 321,506 shares during the period. Acadian Asset Management LLC raised its stake in IMAX by 178.7% during the 1st quarter. Acadian Asset Management LLC now owns 490,917 shares of the company’s stock valued at $7,934,000 after purchasing an additional 314,742 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in IMAX by 90.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 587,694 shares of the company’s stock valued at $9,856,000 after purchasing an additional 279,410 shares during the period. 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.