Q3 2024 EPS Estimates for IMAX Co. (NYSE:IMAX) Lowered by Roth Capital

IMAX Co. (NYSE:IMAX) – Roth Capital cut their Q3 2024 earnings per share (EPS) estimates for IMAX in a research note issued to investors on Thursday, October 10th. Roth Capital analyst E. Handler now expects that the company will earn $0.17 per share for the quarter, down from their prior estimate of $0.19. The consensus estimate for IMAX’s current full-year earnings is $0.69 per share. Roth Capital also issued estimates for IMAX’s FY2025 earnings at $0.93 EPS.

Several other equities analysts also recently weighed in on IMAX. B. Riley lifted their target price on IMAX from $27.00 to $30.00 and gave the company a “buy” rating in a research report on Monday, July 8th. Barrington Research reiterated an “outperform” rating and set a $24.00 price objective on shares of IMAX in a research note on Wednesday, September 25th. Seaport Res Ptn raised shares of IMAX to a “strong-buy” rating in a report on Wednesday, July 24th. Benchmark reaffirmed a “buy” rating and set a $22.00 price target on shares of IMAX in a report on Thursday, June 20th. Finally, Macquarie raised their price objective 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. One analyst has rated the stock with a sell rating, two have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $23.67.

IMAX Price Performance

Shares of IMAX stock opened at $21.70 on Friday. The stock has a market capitalization of $1.14 billion, a PE ratio of 54.25, a P/E/G ratio of 1.41 and a beta of 1.25. IMAX has a 1-year low of $13.20 and a 1-year high of $22.13. The company’s fifty day simple moving average is $20.48 and its 200-day simple moving average is $18.17.

IMAX (NYSE:IMAX) last posted its quarterly earnings data on Thursday, July 25th. The company reported $0.18 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to the consensus estimate of $74.52 million. During the same quarter last year, the firm posted $0.17 earnings per share. The firm’s revenue was down 9.2% compared to the same quarter last year.

Institutional Investors Weigh In On IMAX

Large investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. purchased a new position in IMAX during the 4th quarter valued at approximately $33,000. Quadrature Capital Ltd increased its position in IMAX by 9.9% in the fourth quarter. Quadrature Capital Ltd now owns 60,867 shares of the company’s stock worth $914,000 after purchasing an additional 5,470 shares during the last quarter. Partnership Wealth Management LLC raised its stake in IMAX by 63.1% during the first quarter. Partnership Wealth Management LLC now owns 12,932 shares of the company’s stock valued at $209,000 after purchasing an additional 5,005 shares in the last quarter. Private Capital Management LLC raised its stake in IMAX by 54.3% during the fourth quarter. Private Capital Management LLC now owns 1,185,715 shares of the company’s stock valued at $17,809,000 after purchasing an additional 417,169 shares in the last quarter. Finally, Principal Financial Group Inc. bought a new position in IMAX during the first quarter valued at $871,000. 93.51% of the stock is owned by institutional investors.

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.