Q3 2024 EPS Estimates for IMAX Co. Decreased by Analyst (NYSE:IMAX)

IMAX Co. (NYSE:IMAX) – Analysts at Roth Capital decreased their Q3 2024 EPS estimates for IMAX in a research note issued to investors on Thursday, October 10th. Roth Capital analyst E. Handler now expects that the company will post earnings of $0.17 per share for the quarter, down from their previous forecast of $0.19. The consensus estimate for IMAX’s current full-year earnings is $0.69 per share. Roth Capital also issued estimates for IMAX’s FY2025 earnings at $0.93 EPS.

IMAX (NYSE:IMAX) last released its quarterly 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. The company had revenue of $88.96 million during the quarter, compared to the consensus estimate of $74.52 million. IMAX had a return on equity of 7.78% and a net margin of 5.97%. The firm’s revenue was down 9.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.17 EPS.

Several other research analysts also recently commented on the stock. Seaport Res Ptn upgraded shares of IMAX to a “strong-buy” rating in a report on Wednesday, July 24th. Barrington Research reissued an “outperform” rating and set a $24.00 price objective on shares of IMAX in a research report on Wednesday, September 25th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $28.00 target price on shares of IMAX in a report on Friday, October 4th. Wedbush upped their price target on IMAX from $24.00 to $26.00 and gave the stock an “outperform” rating in a report on Tuesday, September 3rd. Finally, Macquarie raised 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. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, IMAX currently has an average rating of “Moderate Buy” and an average price target of $23.67.

IMAX Stock Up 7.5 %

NYSE:IMAX opened at $21.69 on Friday. The company’s 50 day moving average is $20.48 and its 200-day moving average is $18.19. The firm has a market cap of $1.14 billion, a price-to-earnings ratio of 54.23, a P/E/G ratio of 1.41 and a beta of 1.25. IMAX has a 12 month low of $13.20 and a 12 month high of $22.13.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of IMAX. Lombard Odier Asset Management USA Corp bought a new position in shares of IMAX in the 2nd quarter worth $300,000. Thrivent Financial for Lutherans raised its position in shares of IMAX by 5.5% in the 2nd quarter. Thrivent Financial for Lutherans now owns 819,325 shares of the company’s stock valued at $13,740,000 after acquiring an additional 42,952 shares during the period. XTX Topco Ltd bought a new position in IMAX during the 2nd quarter worth approximately $208,000. American Century Companies Inc. grew its holdings in IMAX by 57.0% during the second quarter. American Century Companies Inc. now owns 120,021 shares of the company’s stock valued at $2,013,000 after purchasing an additional 43,584 shares during the period. Finally, Headlands Technologies LLC bought a new stake in IMAX in the second quarter valued at approximately $35,000. 93.51% of the stock is currently owned by institutional investors and hedge funds.

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.