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

IMAX (NYSE:IMAX) issued its earnings results on Wednesday. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.14), Zacks reports. IMAX had a return on equity of 7.53% and a net margin of 6.74%.

IMAX Stock Up 0.8 %

Shares of IMAX traded up $0.21 during trading on Wednesday, reaching $27.23. The company’s stock had a trading volume of 1,630,063 shares, compared to its average volume of 690,852. The company has a fifty day moving average of $24.60 and a two-hundred day moving average of $22.90. IMAX has a twelve month low of $14.90 and a twelve month high of $27.38. The company has a market cap of $1.43 billion, a price-to-earnings ratio of 61.90, a P/E/G ratio of 1.49 and a beta of 1.22.

Insider Buying and Selling at IMAX

In related news, CFO Natasha Fernandes sold 2,957 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $25.52, for a total transaction of $75,462.64. Following the sale, the chief financial officer now directly owns 14,883 shares of the company’s stock, valued at approximately $379,814.16. This represents a 16.58 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible 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 shares were sold at an average price of $25.50, for a total value of $1,425,705.00. Following the sale, the executive vice president now directly owns 138,889 shares in the company, valued at approximately $3,541,669.50. This represents a 28.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 65,176 shares of company stock valued at $1,662,110 in the last three months. Corporate insiders own 24.08% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on IMAX. StockNews.com cut IMAX from a “buy” rating to a “hold” rating in a report on Thursday, February 13th. Barrington Research restated an “outperform” rating and issued a $30.00 price target on shares of IMAX in a report on Friday, January 10th. Wedbush restated an “outperform” rating and issued a $32.00 price target on shares of IMAX in a report on Wednesday, February 12th. Benchmark restated a “buy” rating and issued a $30.00 price target on shares of IMAX in a report on Friday, January 17th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $28.00 price target on shares of IMAX in a report on Thursday, January 16th. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $28.63.

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.