IMAX (NYSE:IMAX) Releases Quarterly Earnings Results, Beats Expectations By $0.11 EPS

IMAX (NYSE:IMAX) released its quarterly earnings results on Thursday. The company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.07 by $0.11, Briefing.com reports. IMAX had a net margin of 5.97% and a return on equity of 7.77%. The business had revenue of $88.96 million for the quarter, compared to analysts’ expectations of $74.52 million. During the same period in the prior year, the firm earned $0.17 earnings per share. IMAX’s revenue was down 9.2% compared to the same quarter last year.

IMAX Stock Up 3.6 %

Shares of IMAX stock traded up $0.69 on Friday, hitting $20.09. The stock had a trading volume of 2,156,796 shares, compared to its average volume of 706,442. IMAX has a twelve month low of $13.20 and a twelve month high of $20.70. The business’s 50 day moving average is $16.75 and its two-hundred day moving average is $16.14. The stock has a market cap of $1.06 billion, a price-to-earnings ratio of 41.86, a price-to-earnings-growth ratio of 1.75 and a beta of 1.26.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on IMAX. Barrington Research reaffirmed an “outperform” rating and issued a $25.00 price objective on shares of IMAX in a research note on Friday. Seaport Res Ptn upgraded shares of IMAX to a “strong-buy” rating in a report on Wednesday. Rosenblatt Securities raised their price objective on shares of IMAX from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Friday. Wedbush upped their target price on IMAX from $22.00 to $24.00 and gave the stock an “outperform” rating in a report on Friday. Finally, Roth Mkm upped their target price on IMAX from $23.00 to $27.00 and gave the stock a “buy” rating in a report on Friday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.56.

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.