Seaport Res Ptn Analysts Lower Earnings Estimates for IMAX Co. (NYSE:IMAX)

IMAX Co. (NYSE:IMAX) – Analysts at Seaport Res Ptn lowered their Q3 2024 EPS estimates for shares of IMAX in a research note issued on Monday, October 7th. Seaport Res Ptn analyst D. Joyce now expects that the company will earn $0.22 per share for the quarter, down from their prior estimate of $0.26. Seaport Res Ptn currently has a “Strong-Buy” rating on the stock. The consensus estimate for IMAX’s current full-year earnings is $0.69 per share. Seaport Res Ptn also issued estimates for IMAX’s Q4 2024 earnings at $0.31 EPS.

IMAX (NYSE:IMAX) last announced its quarterly earnings data on Thursday, July 25th. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.11. IMAX had a net margin of 5.97% and a return on equity of 7.78%. The company had revenue of $88.96 million during the quarter, compared to analysts’ expectations of $74.52 million. During the same quarter in the prior year, the company posted $0.17 EPS. The business’s revenue was down 9.2% on a year-over-year basis.

A number of other equities analysts have also commented on IMAX. Macquarie boosted their price target on shares of IMAX from $24.00 to $26.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. B. Riley increased their price target on IMAX from $27.00 to $30.00 and gave the stock a “buy” rating in a research report on Monday, July 8th. Rosenblatt Securities reaffirmed a “buy” rating and set a $28.00 price target on shares of IMAX in a report on Friday, October 4th. Wedbush boosted their price objective on IMAX from $24.00 to $26.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 3rd. Finally, Barrington Research restated an “outperform” rating and issued a $24.00 target price on shares of IMAX in a research note on Wednesday, September 25th. One analyst has rated the stock with a sell rating, two have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, IMAX has a consensus rating of “Moderate Buy” and a consensus price target of $23.67.

IMAX Stock Performance

Shares of IMAX stock opened at $21.70 on Thursday. The stock has a market cap of $1.14 billion, a price-to-earnings ratio of 54.25, a P/E/G ratio of 1.41 and a beta of 1.25. The firm has a fifty day moving average of $20.48 and a 200-day moving average of $18.17. IMAX has a 52-week low of $13.20 and a 52-week high of $22.13.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of IMAX. PNC Financial Services Group Inc. acquired a new position in shares of IMAX in the 4th quarter valued at $33,000. Headlands Technologies LLC acquired a new position in shares of IMAX in the 2nd quarter valued at $35,000. Summit Securities Group LLC acquired a new position in shares of IMAX in the 2nd quarter valued at $80,000. Laurus Investment Counsel Inc. acquired a new position in shares of IMAX in the 2nd quarter valued at $150,000. Finally, XTX Topco Ltd acquired a new position in shares of IMAX in the 2nd quarter valued at $208,000. 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.