IMAX Co. (NYSE:IMAX – Free Report) – Investment analysts at Roth Capital lifted their Q2 2024 earnings per share estimates for shares of IMAX in a research report issued on Wednesday, February 28th. Roth Capital analyst E. Handler now forecasts that the company will post earnings per share of $0.06 for the quarter, up from their previous forecast of $0.04. The consensus estimate for IMAX’s current full-year earnings is $0.52 per share. Roth Capital also issued estimates for IMAX’s Q3 2024 earnings at $0.19 EPS, Q4 2024 earnings at $0.28 EPS and FY2024 earnings at $0.62 EPS.
IMAX has been the subject of several other reports. B. Riley cut their price target on shares of IMAX from $27.00 to $21.00 and set a “buy” rating for the company in a research report on Tuesday, January 2nd. Rosenblatt Securities dropped their price target on shares of IMAX from $30.00 to $25.00 and set a “buy” rating on the stock in a research note on Tuesday, February 13th. Benchmark reduced their target price on shares of IMAX from $24.00 to $22.00 and set a “buy” rating on the stock in a report on Thursday, January 18th. Wedbush reiterated an “outperform” rating and issued a $22.00 price target on shares of IMAX in a report on Monday. Finally, StockNews.com lowered IMAX from a “buy” rating to a “hold” rating in a report on Saturday, January 27th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, IMAX currently has an average rating of “Moderate Buy” and an average target price of $20.57.
IMAX Stock Performance
IMAX stock opened at $16.67 on Monday. IMAX has a fifty-two week low of $13.20 and a fifty-two week high of $21.82. The firm’s fifty day moving average price is $14.75 and its 200-day moving average price is $16.72. The stock has a market cap of $882.68 million, a P/E ratio of 36.24, a PEG ratio of 1.62 and a beta of 1.26.
IMAX (NYSE:IMAX – Get Free Report) last announced its earnings results on Tuesday, February 27th. The company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.12. IMAX had a return on equity of 9.59% and a net margin of 6.76%. The firm had revenue of $86.02 million for the quarter, compared to the consensus estimate of $85.83 million. During the same quarter in the previous year, the business earned $0.05 EPS. The company’s revenue was down 12.3% compared to the same quarter last year.
Hedge Funds Weigh In On IMAX
A number of large investors have recently bought and sold shares of the business. PNC Financial Services Group Inc. acquired a new stake in shares of IMAX during the 4th quarter worth approximately $33,000. Tower Research Capital LLC TRC increased its position in IMAX by 164.8% in the 3rd quarter. Tower Research Capital LLC TRC now owns 3,260 shares of the company’s stock valued at $46,000 after acquiring an additional 2,029 shares during the period. Point72 Hong Kong Ltd purchased a new stake in IMAX in the 4th quarter valued at approximately $65,000. SRS Capital Advisors Inc. boosted its stake in shares of IMAX by 11.1% during the 1st quarter. SRS Capital Advisors Inc. now owns 6,492 shares of the company’s stock worth $125,000 after acquiring an additional 650 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in IMAX in the 3rd quarter valued at approximately $139,000. Institutional investors and hedge funds own 75.18% 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 through three segments: IMAX Technology Network; IMAX Technology Sales and Maintenance; and Film Distribution and Post-Production. 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.
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