Zacks Research Issues Negative Estimate for IMAX Earnings

IMAX Co. (NYSE:IMAX) – Equities research analysts at Zacks Research dropped their Q4 2024 earnings per share estimates for shares of IMAX in a research note issued on Wednesday, November 20th. Zacks Research analyst R. Department now forecasts that the company will post earnings of $0.27 per share for the quarter, down from their previous forecast of $0.28. The consensus estimate for IMAX’s current full-year earnings is $0.76 per share. Zacks Research also issued estimates for IMAX’s Q1 2025 earnings at $0.10 EPS, Q2 2025 earnings at $0.10 EPS, Q3 2025 earnings at $0.19 EPS and Q3 2026 earnings at $0.18 EPS.

IMAX (NYSE:IMAX) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.12. IMAX had a return on equity of 7.53% and a net margin of 6.74%. The firm had revenue of $91.50 million for the quarter, compared to analysts’ expectations of $93.71 million. During the same quarter in the prior year, the firm posted $0.27 earnings per share. IMAX’s revenue for the quarter was down 11.9% compared to the same quarter last year.

A number of other equities research analysts have also recently issued reports on IMAX. JPMorgan Chase & Co. raised their target price on IMAX from $20.00 to $21.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. Wedbush raised their target price on IMAX from $24.00 to $26.00 and gave the company an “outperform” rating in a research report on Tuesday, September 3rd. Rosenblatt Securities reiterated a “buy” rating and issued a $28.00 target price on shares of IMAX in a research report on Thursday, October 31st. StockNews.com lowered shares of IMAX from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, Roth Mkm lifted their price target on IMAX from $27.00 to $28.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. One analyst has rated the stock with a sell rating, two have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, IMAX presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.22.

IMAX Stock Performance

IMAX stock opened at $25.19 on Friday. IMAX has a 1 year low of $13.20 and a 1 year high of $25.51. The firm’s 50-day moving average is $21.77 and its 200-day moving average is $19.49. The company has a market cap of $1.33 billion, a P/E ratio of 57.25, a PEG ratio of 1.63 and a beta of 1.22.

Institutional Investors Weigh In On IMAX

Large investors have recently made changes to their positions in the company. Huntington National Bank bought a new stake in IMAX in the third quarter worth $34,000. Headlands Technologies LLC bought a new stake in shares of IMAX during the 2nd quarter worth about $35,000. Quarry LP increased its holdings in shares of IMAX by 78,333.3% during the 3rd quarter. Quarry LP now owns 2,353 shares of the company’s stock valued at $48,000 after acquiring an additional 2,350 shares during the last quarter. nVerses Capital LLC bought a new position in shares of IMAX in the 3rd quarter valued at approximately $70,000. Finally, Summit Securities Group LLC bought a new position in shares of IMAX in the 2nd quarter valued at approximately $80,000. Institutional investors own 93.51% of the company’s stock.

About IMAX

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.