Wall Street brokerages expect IMAX Co. (NYSE:IMAX) to post $0.24 earnings per share for the current quarter, according to Zacks. Five analysts have issued estimates for IMAX’s earnings, with estimates ranging from $0.23 to $0.25. IMAX reported earnings per share of $0.15 in the same quarter last year, which suggests a positive year over year growth rate of 60%. The company is expected to announce its next earnings report on Wednesday, July 25th.
On average, analysts expect that IMAX will report full year earnings of $0.90 per share for the current financial year, with EPS estimates ranging from $0.75 to $1.02. For the next financial year, analysts expect that the company will post earnings of $1.03 per share, with EPS estimates ranging from $0.90 to $1.17. Zacks’ earnings per share calculations are an average based on a survey of analysts that cover IMAX.
IMAX (NYSE:IMAX) last posted its quarterly earnings data on Tuesday, May 1st. The company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.10. The business had revenue of $85.00 million during the quarter, compared to the consensus estimate of $81.64 million. IMAX had a return on equity of 5.02% and a net margin of 2.71%. The firm’s quarterly revenue was up 23.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.06 earnings per share.
A number of equities analysts have issued reports on IMAX shares. JPMorgan Chase started coverage on IMAX in a report on Tuesday, February 20th. They issued an “overweight” rating and a $28.00 price objective for the company. Wedbush reiterated an “outperform” rating and issued a $30.00 price objective on shares of IMAX in a report on Tuesday, February 20th. ValuEngine downgraded IMAX from a “hold” rating to a “sell” rating in a report on Friday, February 2nd. B. Riley increased their price objective on IMAX from $35.00 to $37.75 and gave the stock a “buy” rating in a report on Wednesday, February 28th. Finally, Barrington Research restated a “buy” rating and set a $30.00 price target on shares of IMAX in a report on Tuesday, March 20th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company’s stock. IMAX currently has an average rating of “Hold” and an average price target of $27.68.
In other news, insider Robert D. Lister sold 3,518 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $22.95, for a total transaction of $80,738.10. Following the completion of the transaction, the insider now directly owns 38,540 shares in the company, valued at $884,493. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Patrick Mcclymont sold 2,811 shares of the firm’s stock in a transaction on Thursday, March 8th. The shares were sold at an average price of $20.40, for a total value of $57,344.40. Following the transaction, the chief financial officer now owns 2,145 shares of the company’s stock, valued at $43,758. The disclosure for this sale can be found here. Insiders have sold 24,131 shares of company stock valued at $501,243 over the last 90 days. Corporate insiders own 18.90% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IMAX. Dimensional Fund Advisors LP increased its holdings in IMAX by 15.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 785,422 shares of the company’s stock worth $17,791,000 after buying an additional 103,401 shares in the last quarter. Acadian Asset Management LLC bought a new stake in IMAX in the 4th quarter worth about $775,000. Fox Run Management L.L.C. bought a new stake in IMAX in the 4th quarter worth about $521,000. Duff & Phelps Investment Management Co. increased its holdings in IMAX by 15.6% in the 4th quarter. Duff & Phelps Investment Management Co. now owns 417,110 shares of the company’s stock worth $9,638,000 after buying an additional 56,146 shares in the last quarter. Finally, Foundry Partners LLC bought a new stake in IMAX in the 4th quarter worth about $244,000. Institutional investors own 84.17% of the company’s stock.
IMAX opened at $22.85 on Friday, according to MarketBeat Ratings. The firm has a market capitalization of $1.47 billion, a price-to-earnings ratio of 126.94, a PEG ratio of 1.72 and a beta of 0.83. IMAX has a 12-month low of $17.58 and a 12-month high of $27.77.
IMAX Corporation, together with its subsidiaries, operates as an entertainment technology company that specializes in motion picture technologies and presentations worldwide. It offers cinematic solution comprising proprietary software, theater architecture, and equipment. The company engages in Digital Re-Mastering (DMR) of films into the IMAX format for exhibition in the IMAX theater network; the provision of IMAX premium theater systems to exhibitor customers through sales, long-term leases, or joint revenue sharing arrangements; the distribution of documentary films; the provision of production technical support and film post-production services; the ownership and operation of IMAX theaters; and the provision of camera and other miscellaneous items rental services.
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