IMAX Co. (NYSE:IMAX) Forecasted to Post Q3 2024 Earnings of $0.17 Per Share

IMAX Co. (NYSE:IMAX) – Research analysts at Roth Capital decreased their Q3 2024 earnings per share (EPS) estimates for IMAX in a research report issued on Thursday, October 10th. Roth Capital analyst E. Handler now forecasts that the company will post earnings per share of $0.17 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 announced its earnings results on Thursday, July 25th. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter was down 9.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.17 earnings per share.

A number of other equities analysts also recently issued reports on IMAX. Barrington Research reissued an “outperform” rating and issued a $24.00 price target on shares of IMAX in a research note on Wednesday, September 25th. Seaport Res Ptn upgraded IMAX to a “strong-buy” rating in a research report on Wednesday, July 24th. Wedbush boosted their target price on shares of IMAX from $24.00 to $26.00 and gave the company an “outperform” rating in a report on Tuesday, September 3rd. Macquarie lifted their price target on shares of IMAX from $24.00 to $26.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $28.00 target price on shares of IMAX in a report on Friday, October 4th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $23.67.

IMAX Trading Up 4.2 %

NYSE:IMAX opened at $20.17 on Friday. The company has a 50-day moving average price of $20.48 and a 200-day moving average price of $18.13. IMAX has a 12 month low of $13.20 and a 12 month high of $22.13. The stock has a market cap of $1.06 billion, a price-to-earnings ratio of 50.43, a P/E/G ratio of 1.41 and a beta of 1.25.

Hedge Funds Weigh In On IMAX

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Headlands Technologies LLC purchased a new stake in IMAX during the second quarter valued at $35,000. Price T Rowe Associates Inc. MD lifted its stake in shares of IMAX by 19.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,082 shares of the company’s stock worth $212,000 after purchasing an additional 2,153 shares during the period. PNC Financial Services Group Inc. purchased a new position in shares of IMAX in the fourth quarter worth approximately $33,000. Summit Securities Group LLC bought a new stake in IMAX during the second quarter valued at approximately $80,000. Finally, Partnership Wealth Management LLC increased its holdings in IMAX by 63.1% during the first quarter. Partnership Wealth Management LLC now owns 12,932 shares of the company’s stock valued at $209,000 after buying an additional 5,005 shares during the last quarter. 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.