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

IMAX (NYSE:IMAX) posted its quarterly earnings data on Wednesday. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.14), Zacks reports. IMAX had a return on equity of 8.79% and a net margin of 7.40%. The business had revenue of $92.67 million for the quarter, compared to the consensus estimate of $104.08 million.

IMAX Trading Down 2.5 %

NYSE IMAX traded down $0.67 during trading hours on Friday, hitting $26.26. 329,575 shares of the company’s stock traded hands, compared to its average volume of 696,838. The firm has a market capitalization of $1.38 billion, a P/E ratio of 53.63, a P/E/G ratio of 1.50 and a beta of 1.22. IMAX has a 52 week low of $14.94 and a 52 week high of $27.77. The business’s fifty day moving average price is $24.65 and its two-hundred day moving average price is $22.96.

Insiders Place Their Bets

In other IMAX news, insider Kenneth Ian Weissman sold 6,309 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $25.51, for a total value of $160,942.59. Following the completion of the transaction, the insider now directly owns 25,139 shares in the company, valued at $641,295.89. This represents a 20.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Robert D. Lister sold 55,910 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $25.50, for a total transaction 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 approximately $3,541,669.50. The trade was a 28.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 65,176 shares of company stock worth $1,662,110 over the last three months. 24.08% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

IMAX has been the subject of several recent analyst reports. Wedbush reaffirmed an “outperform” rating and issued a $32.00 target price on shares of IMAX in a report on Thursday. Roth Mkm lifted their target price on shares of IMAX from $27.00 to $28.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Benchmark reaffirmed a “buy” rating and issued a $30.00 target price on shares of IMAX in a report on Thursday. Barrington Research lifted their target price on shares of IMAX from $30.00 to $32.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, Rosenblatt Securities boosted their price objective on shares of IMAX from $28.00 to $35.00 and gave the company a “buy” rating in a report on Thursday. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $30.67.

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.