Q1 2024 Earnings Forecast for IMAX Co. Issued By Barrington Research (NYSE:IMAX)

IMAX Co. (NYSE:IMAX) – Stock analysts at Barrington Research issued their Q1 2024 EPS estimates for IMAX in a research report issued on Monday, April 22nd. Barrington Research analyst J. Goss forecasts that the company will post earnings per share of $0.06 for the quarter. Barrington Research currently has a “Outperform” rating and a $24.00 price target on the stock. The consensus estimate for IMAX’s current full-year earnings is $0.57 per share. Barrington Research also issued estimates for IMAX’s Q1 2025 earnings at $0.03 EPS.

IMAX (NYSE:IMAX) last released its quarterly earnings data on Tuesday, February 27th. The company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.12. IMAX had a net margin of 6.76% and a return on equity of 9.59%. The firm had revenue of $86.02 million during the quarter, compared to analysts’ expectations of $85.83 million. During the same period in the previous year, the business posted $0.05 earnings per share. The company’s revenue for the quarter was down 12.3% compared to the same quarter last year.

A number of other equities analysts have also recently commented on the stock. B. Riley reduced their price objective 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. JPMorgan Chase & Co. reduced their price objective on shares of IMAX from $20.00 to $17.00 and set a “neutral” rating for the company in a research report on Tuesday, February 6th. Benchmark reaffirmed a “buy” rating and set a $22.00 price objective on shares of IMAX in a research report on Tuesday, April 16th. The Goldman Sachs Group reduced their target price on shares of IMAX from $15.00 to $13.00 and set a “sell” rating for the company in a research report on Thursday, January 11th. Finally, Rosenblatt Securities dropped their price target on IMAX from $30.00 to $25.00 and set a “buy” rating for the company in a research note on Tuesday, February 13th. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $20.57.

IMAX Price Performance

IMAX stock opened at $17.65 on Thursday. The company has a fifty day moving average price of $16.25 and a two-hundred day moving average price of $16.08. IMAX has a one year low of $13.20 and a one year high of $21.82. The stock has a market cap of $934.57 million, a price-to-earnings ratio of 38.37, a price-to-earnings-growth ratio of 1.53 and a beta of 1.25.

Institutional Trading of IMAX

Several hedge funds and other institutional investors have recently made changes to their positions in IMAX. PNC Financial Services Group Inc. bought a new stake in shares of IMAX during the fourth quarter worth about $33,000. Tower Research Capital LLC TRC boosted its holdings in IMAX by 545.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,992 shares of the company’s stock valued at $75,000 after acquiring an additional 4,218 shares during the last quarter. Partnership Wealth Management LLC bought a new stake in IMAX in the fourth quarter valued at approximately $111,000. SG Americas Securities LLC bought a new stake in IMAX in the third quarter valued at approximately $139,000. Finally, C M Bidwell & Associates Ltd. bought a new stake in IMAX in the third quarter valued at approximately $160,000. 93.51% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other IMAX news, VP Robert D. Lister sold 25,000 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $16.87, for a total transaction of $421,750.00. Following the completion of the transaction, the vice president now owns 138,889 shares of the company’s stock, valued at $2,343,057.43. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 24.33% 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.