IMAX (NYSE:IMAX) Announces Earnings Results, Misses Estimates By $0.14 EPS

IMAX (NYSE:IMAX) announced its quarterly earnings results on Wednesday. The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.14), Zacks reports. IMAX had a net margin of 6.74% and a return on equity of 7.53%.

IMAX Stock Performance

Shares of IMAX stock traded up $0.21 on Wednesday, reaching $27.23. 1,630,262 shares of the stock were exchanged, compared to its average volume of 690,877. The firm’s 50 day moving average is $24.60 and its 200-day moving average is $22.90. IMAX has a one year low of $14.90 and a one year high of $27.38. The firm has a market cap of $1.43 billion, a PE ratio of 61.90, a P/E/G ratio of 1.49 and a beta of 1.22.

Insider Transactions at IMAX

In related news, EVP Robert D. Lister sold 55,910 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $25.50, for a total value of $1,425,705.00. Following the completion of the transaction, the executive vice president now owns 138,889 shares of the company’s stock, valued at $3,541,669.50. This represents a 28.70 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Kenneth Ian Weissman sold 6,309 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 25,139 shares of the company’s stock, valued at approximately $641,295.89. The trade was a 20.06 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 65,176 shares of company stock valued at $1,662,110. Company insiders own 24.08% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on IMAX. Benchmark reiterated a “buy” rating and issued a $30.00 price target on shares of IMAX in a research note on Friday, January 17th. JPMorgan Chase & Co. increased their target price on shares of IMAX from $21.00 to $25.00 and gave the stock a “neutral” rating in a research report on Thursday, January 30th. StockNews.com lowered shares of IMAX from a “buy” rating to a “hold” rating in a research report on Thursday, February 13th. Roth Mkm increased their target price on shares of IMAX from $27.00 to $28.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, Barrington Research restated an “outperform” rating and set a $30.00 target price on shares of IMAX in a research report on Friday, January 10th. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $28.63.

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.