By otakuyassine3@gmail.com 
IMAX Co. (NYSE:IMAX – Free Report) – Seaport Res Ptn lowered their FY2024 EPS estimates for shares of IMAX in a note issued to investors on Thursday, January 9th. Seaport Res Ptn analyst D. Joyce now forecasts that the company will post earnings per share of $0.75 for the year, down from their previous forecast of $0.79. The consensus estimate for IMAX’s current full-year earnings is $0.77 per share. Seaport Res Ptn also issued estimates for IMAX’s Q4 2024 earnings at $0.30 EPS, Q1 2025 earnings at $0.19 EPS, Q3 2025 earnings at $0.34 EPS, FY2025 earnings at $1.22 EPS and FY2026 earnings at $1.53 EPS.
IMAX (NYSE:IMAX – Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.12. IMAX had a net margin of 6.74% and a return on equity of 7.53%. The company had revenue of $91.50 million for the quarter, compared to analyst estimates of $93.71 million. During the same period in the prior year, the firm posted $0.27 EPS. The company’s quarterly revenue was down 11.9% on a year-over-year basis.
Several other research firms also recently commented on IMAX. Barrington Research restated an “outperform” rating and set a $30.00 price objective on shares of IMAX in a report on Friday, January 10th. Benchmark restated a “buy” rating and set a $30.00 price target on shares of IMAX in a research note on Friday, January 10th. StockNews.com lowered shares of IMAX from a “buy” rating to a “hold” rating in a research note on Tuesday. Roth Mkm boosted their target price on shares of IMAX from $27.00 to $28.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, JPMorgan Chase & Co. raised their price target on shares of IMAX from $20.00 to $21.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued 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 a consensus price target of $27.38.
Check Out Our Latest Stock Analysis on IMAX
IMAX Stock Up 1.3 %
Shares of NYSE IMAX opened at $23.10 on Monday. The firm has a market cap of $1.22 billion, a PE ratio of 52.50, a P/E/G ratio of 1.69 and a beta of 1.24. The company’s fifty day simple moving average is $25.01 and its 200 day simple moving average is $21.74. IMAX has a 12-month low of $13.20 and a 12-month high of $26.84.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in IMAX. Headlands Technologies LLC bought a new stake in IMAX in the 2nd quarter valued at about $35,000. American Century Companies Inc. lifted its holdings in shares of IMAX by 57.0% in the second quarter. American Century Companies Inc. now owns 120,021 shares of the company’s stock worth $2,013,000 after buying an additional 43,584 shares in the last quarter. XTX Topco Ltd bought a new position in shares of IMAX in the second quarter valued at approximately $208,000. Thrivent Financial for Lutherans grew its stake in IMAX by 5.5% during the second quarter. Thrivent Financial for Lutherans now owns 819,325 shares of the company’s stock valued at $13,740,000 after acquiring an additional 42,952 shares in the last quarter. Finally, Lombard Odier Asset Management USA Corp bought a new stake in IMAX during the 2nd quarter worth approximately $300,000. Institutional investors own 93.51% of the company’s stock.
Insider Activity
In other IMAX news, insider Kenneth Ian Weissman sold 6,309 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $25.51, for a total transaction of $160,942.59. Following the completion of the transaction, the insider now directly owns 25,139 shares of the company’s stock, valued at approximately $641,295.89. This represents a 20.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Natasha Fernandes sold 2,957 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $25.52, for a total value of $75,462.64. Following the completion of the sale, the chief financial officer now directly owns 14,883 shares of the company’s stock, valued at $379,814.16. This represents a 16.58 % 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 valued at $1,662,110 over the last three months. Corporate insiders own 24.08% 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.
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