Research Analysts Issue Forecasts for IMAX FY2024 Earnings

IMAX Co. (NYSE:IMAX) – Analysts at Wedbush decreased their FY2024 earnings estimates for shares of IMAX in a research note issued on Wednesday, November 27th. Wedbush analyst A. Reese now forecasts that the company will post earnings per share of $0.78 for the year, down from their prior forecast of $0.87. Wedbush currently has a “Outperform” rating on the stock. The consensus estimate for IMAX’s current full-year earnings is $0.77 per share. Wedbush also issued estimates for IMAX’s Q4 2024 earnings at $0.35 EPS and Q2 2025 earnings at $0.12 EPS.

A number of other equities research analysts also recently commented on IMAX. Roth Mkm lifted their price objective on IMAX from $27.00 to $28.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. StockNews.com lowered shares of IMAX from a “buy” rating to a “hold” rating in a report on Friday, November 29th. JPMorgan Chase & Co. upped their target price on IMAX from $20.00 to $21.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. Barrington Research reissued an “outperform” rating and issued a $24.00 price objective on shares of IMAX in a report on Thursday, October 31st. Finally, Rosenblatt Securities restated a “buy” rating and issued a $28.00 price target on shares of IMAX in a research report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, IMAX has a consensus rating of “Moderate Buy” and a consensus target price of $24.22.

IMAX Stock Down 1.2 %

NYSE IMAX opened at $26.41 on Monday. The business has a fifty day moving average of $22.46 and a 200-day moving average of $19.90. IMAX has a fifty-two week low of $13.20 and a fifty-two week high of $26.84. The stock has a market cap of $1.39 billion, a price-to-earnings ratio of 60.02, a price-to-earnings-growth ratio of 1.74 and a beta of 1.23.

IMAX (NYSE:IMAX) last announced its earnings results on Wednesday, October 30th. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.12. IMAX had a net margin of 6.74% and a return on equity of 7.53%. The company had revenue of $91.50 million during the quarter, compared to analysts’ expectations of $93.71 million. During the same quarter in the previous year, the business posted $0.27 earnings per share. The firm’s quarterly revenue was down 11.9% compared to the same quarter last year.

Institutional Investors Weigh In On IMAX

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of IMAX by 13.2% during the 1st quarter. Vanguard Group Inc. now owns 584,795 shares of the company’s stock valued at $9,456,000 after acquiring an additional 68,155 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of IMAX by 33.1% in the second quarter. Victory Capital Management Inc. now owns 1,293,221 shares of the company’s stock worth $21,687,000 after buying an additional 321,506 shares during the last quarter. Mizuho Markets Americas LLC grew its stake in IMAX by 47.5% in the 3rd quarter. Mizuho Markets Americas LLC now owns 387,689 shares of the company’s stock valued at $7,952,000 after buying an additional 124,811 shares during the last quarter. American Century Companies Inc. raised its holdings in IMAX by 57.0% in the 2nd quarter. American Century Companies Inc. now owns 120,021 shares of the company’s stock worth $2,013,000 after acquiring an additional 43,584 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in IMAX by 90.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 587,694 shares of the company’s stock worth $9,856,000 after acquiring an additional 279,410 shares during the last quarter. 93.51% of the stock is currently owned by institutional investors and hedge funds.

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.