Q3 2024 EPS Estimates for IMAX Co. (NYSE:IMAX) Cut by Analyst

IMAX Co. (NYSE:IMAX) – Stock analysts at B. Riley dropped their Q3 2024 EPS estimates for shares of IMAX in a research note issued on Thursday, October 3rd. B. Riley analyst E. Wold now forecasts that the company will post earnings per share of $0.09 for the quarter, down from their prior estimate of $0.11. B. Riley has a “Buy” rating and a $30.00 price target on the stock. The consensus estimate for IMAX’s current full-year earnings is $0.69 per share. B. Riley also issued estimates for IMAX’s FY2024 earnings at $0.75 EPS, Q2 2025 earnings at $0.04 EPS, Q3 2025 earnings at $0.15 EPS and FY2025 earnings at $0.84 EPS.

IMAX has been the subject of several other research reports. Wedbush upped their price objective on shares of IMAX from $24.00 to $26.00 and gave the company an “outperform” rating in a research note on Tuesday, September 3rd. Macquarie upped their price target on IMAX from $24.00 to $26.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Roth Mkm increased their price target on IMAX from $23.00 to $27.00 and gave the company a “buy” rating in a report on Friday, July 26th. Barrington Research reissued an “outperform” rating and set a $24.00 price objective on shares of IMAX in a research note on Wednesday, September 25th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $28.00 price target on shares of IMAX in a report on Friday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $23.67.

IMAX Stock Down 1.6 %

IMAX stock opened at $19.51 on Friday. The company has a fifty day simple moving average of $20.56 and a 200-day simple moving average of $18.03. The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of 40.65, a PEG ratio of 1.38 and a beta of 1.25. IMAX has a 52-week low of $13.20 and a 52-week high of $22.13.

IMAX (NYSE:IMAX) last released its earnings results on Thursday, July 25th. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.11. IMAX had a return on equity of 7.78% and a net margin of 5.97%. The business had revenue of $88.96 million for the quarter, compared to the consensus estimate of $74.52 million. During the same quarter last year, the business posted $0.17 earnings per share. The business’s quarterly revenue was down 9.2% compared to the same quarter last year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in shares of IMAX by 13.2% in the 1st quarter. Vanguard Group Inc. now owns 584,795 shares of the company’s stock worth $9,456,000 after acquiring an additional 68,155 shares during the last quarter. GSA Capital Partners LLP purchased a new position in shares of IMAX during the first quarter worth $1,070,000. Acadian Asset Management LLC boosted its position in shares of IMAX by 178.7% during the first quarter. Acadian Asset Management LLC now owns 490,917 shares of the company’s stock worth $7,934,000 after buying an additional 314,742 shares during the period. Principal Financial Group Inc. acquired a new stake in shares of IMAX in the first quarter valued at $871,000. Finally, Victory Capital Management Inc. raised its holdings in shares of IMAX by 33.1% in the 2nd quarter. Victory Capital Management Inc. now owns 1,293,221 shares of the company’s stock valued at $21,687,000 after buying an additional 321,506 shares during the period. Hedge funds and other institutional investors own 93.51% of the company’s stock.

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.