Wedbush Equities Analysts Raise Earnings Estimates for IMAX Co. (NYSE:IMAX)

IMAX Co. (NYSE:IMAX – Free Report) – Investment analysts at Wedbush raised their earnings estimates for IMAX for the first quarter of 2024 in a research report issued on Thursday, April 18. Wedbush analyst A. Reese now expects the company to earn $0.08 per share this quarter, up from their previous forecast of $0.02. Wedbush currently has an Outperform rating and a $22.00 price target on the stock. The consensus estimate for IMAX’s current full-year earnings is $0.56 per share. Wedbush also provided estimates for IMAX’s fourth-quarter 2024 earnings of $0.37 per share, fiscal 2024 earnings of $0.87 per share, third-quarter 2025 earnings of $0.41 per share and fiscal 2026 earnings of $1.50 per share.

Several other research analysts have also recently weighed in on IMAX. B. Riley lowered his target price on shares of IMAX from $27.00 to $21.00 and set a “buy” rating on the stock in a research report on Tuesday, January 2. Benchmark reiterated a “buy” rating and set a $22.00 price objective on shares of IMAX in a research report on Tuesday, April 16. Rosenblatt Securities lowered their price objective on shares of IMAX from $30.00 to $25.00 and set a “buy” rating on the stock in a research report on Tuesday, February 13. StockNews.com downgraded shares of IMAX from a “buy” rating to a “hold” rating in a research report on Saturday, January 27th. Finally, Barrington Research reiterated an “outperform” rating and set a $24.00 price objective on IMAX stock in a research report on Wednesday, February 28th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $20.57.

Read our latest report on IMAX

IMAX trading up 0.1%

IMAX opened Monday for $17.13. IMAX has a one-year low of $13.20 and a one-year high of $21.82. The company has a market cap of $907.03 million, a price-to-earnings ratio of 37.24, a PEG ratio of 1.55, and a beta of 1.25. The company’s 50-day simple moving average is $16.13 and its two-hundred-day simple moving average is $16.11.

IMAX (NYSE:IMAX – Get Free Report) last reported its quarterly results on Tuesday, February 27. The company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.12. IMAX had a net margin of 6.76% and a return on equity of 9.59%. The company had revenue of $86.02 million for the quarter, compared to the consensus estimate of $85.83 million. During the same period last year, the company earned $0.05 earnings per share. The company’s quarterly revenue fell 12.3% year over year.

Buy and sell Insider at IMAX

In other IMAX news: VP Robert D. Lister sold 25,000 IMAX shares in a transaction on Thursday, March 14. The shares sold at an average price of $16.87, for a total value of $421,750.00. Following the sale, the vice president now directly owns 138,889 shares of the company’s stock, valued at approximately $2,343,057.43. The sale was disclosed in a legal filing with the SEC, which can be accessed via this hyperlink. Currently, 24.33% of the shares are owned by insiders.

Institutional trading in IMAX

A number of institutional investors and hedge funds have recently bought and sold shares of IMAX. The Swiss National Bank increased its stake in IMAX shares by 8.5% in the third quarter. Swiss National Bank now owns 102,000 shares of the company worth $1,971,000 after purchasing an additional 8,000 shares in the last quarter. Mizuho Markets Americas LLC bought a new position in shares of IMAX during the third quarter valued at $7,118,000. Alpine Woods Capital Investors LLC grew its holdings in shares of IMAX by 33.8% in the 3rd quarter. Alpine Woods Capital Investors LLC now owns 392,278 shares of the company’s stock worth $7,579,000 after purchasing an additional 99,163 shares during the last quarter. Mutual of America Capital Management LLC grew its holdings in shares of IMAX by 44.0% in the 4th quarter. Mutual of America Capital Management LLC now owns 158,022 shares of the company’s stock worth $2,373,000 after purchasing an additional 48,266 shares in the last quarter. Finally, GTS Securities LLC bought a new position in shares of IMAX during the third quarter valued at $1,092,000. 93.51% of the shares are currently held by institutional investors.

About IMAX

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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 which provides end-to-end technology for streaming content and entertainment devices at home; and SSIMWAVE, an AI-powered video quality solution for media and entertainment companies.

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