Brokerages predict that IMAX Co. (NYSE:IMAX) will announce earnings of $0.24 per share for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for IMAX’s earnings, with the lowest EPS estimate coming in at $0.23 and the highest estimate coming in at $0.25. IMAX posted earnings per share of $0.15 in the same quarter last year, which would indicate a positive year-over-year growth rate of 60%. The company is expected to issue its next earnings results on Wednesday, July 25th.
According to Zacks, 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 anticipate that the company will report earnings of $1.03 per share, with EPS estimates ranging from $0.90 to $1.17. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that cover IMAX.
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IMAX (NYSE:IMAX) last posted its earnings results on Tuesday, May 1st. The company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.10. The company had revenue of $85.00 million for the quarter, compared to analyst estimates of $81.64 million. IMAX had a net margin of 2.71% and a return on equity of 5.02%. IMAX’s revenue was up 23.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.06 EPS.
Several equities analysts have weighed in on IMAX shares. ValuEngine lowered shares of IMAX from a “hold” rating to a “sell” rating in a report on Friday, February 2nd. Wedbush reiterated an “outperform” rating and issued a $30.00 target price on shares of IMAX in a report on Tuesday, February 20th. JPMorgan Chase started coverage on shares of IMAX in a report on Tuesday, February 20th. They issued an “overweight” rating and a $28.00 target price on the stock. B. Riley boosted their target price on shares of IMAX from $35.00 to $37.75 and gave the company a “buy” rating in a report on Wednesday, February 28th. Finally, Roth Capital reiterated a “neutral” rating and issued a $22.50 target price (down from $25.00) on shares of IMAX in a report on Wednesday, February 28th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company’s stock. The company 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 business’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $22.95, for a total value of $80,738.10. Following the sale, the insider now directly owns 38,540 shares of the company’s stock, valued at approximately $884,493. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Robert D. Lister sold 11,874 shares of the business’s stock in a transaction that occurred on Thursday, March 8th. The shares were sold at an average price of $20.40, for a total transaction of $242,229.60. Following the completion of the sale, the insider now directly owns 41,456 shares in the company, valued at $845,702.40. The disclosure for this sale can be found here. Insiders sold a total of 24,131 shares of company stock worth $501,243 over the last three months. Insiders own 18.90% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Anson Funds Management LP purchased a new stake in IMAX during the 1st quarter worth approximately $960,000. Point72 Asia Hong Kong Ltd purchased a new stake in IMAX during the 1st quarter worth approximately $145,000. Point72 Asset Management L.P. purchased a new stake in IMAX during the 1st quarter worth approximately $21,830,000. Guggenheim Capital LLC increased its stake in IMAX by 18.7% during the 1st quarter. Guggenheim Capital LLC now owns 13,435 shares of the company’s stock worth $257,000 after buying an additional 2,116 shares during the period. Finally, Ladenburg Thalmann Financial Services Inc. increased its stake in IMAX by 82.2% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 7,800 shares of the company’s stock worth $150,000 after buying an additional 3,520 shares during the period. 83.74% of the stock is currently owned by hedge funds and other institutional investors.
IMAX opened at $23.85 on Friday, Marketbeat.com reports. The stock has a market capitalization of $1.55 billion, a price-to-earnings ratio of 132.50, a PEG ratio of 1.82 and a beta of 0.83. IMAX has a 1-year low of $23.90 and a 1-year high of $24.25.
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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