What is Seaport Res Ptn’s Forecast for IMAX FY2024 Earnings?

IMAX Co. (NYSE:IMAX) – Analysts at Seaport Res Ptn decreased their FY2024 earnings estimates for IMAX in a research note issued on Monday, December 9th. Seaport Res Ptn analyst D. Joyce now anticipates that the company will post earnings per share of $0.79 for the year, down from their prior forecast of $0.80. 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 $0.34 EPS, Q1 2025 earnings at $0.20 EPS and Q2 2025 earnings at $0.22 EPS.

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

Other analysts also recently issued research reports about the stock. StockNews.com downgraded shares of IMAX from a “buy” rating to a “hold” rating in a research report on Tuesday. Rosenblatt Securities reiterated a “buy” rating and issued a $28.00 price objective on shares of IMAX in a research note on Thursday, October 31st. Roth Mkm increased their price objective 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. Wedbush reiterated an “outperform” rating on shares of IMAX in a report on Wednesday, November 27th. Finally, JPMorgan Chase & Co. increased their target price on IMAX from $20.00 to $21.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $24.22.

IMAX Trading Down 0.5 %

IMAX opened at $25.84 on Thursday. The company has a market cap of $1.36 billion, a P/E ratio of 58.72, a PEG ratio of 1.68 and a beta of 1.23. The company’s 50 day moving average is $23.39 and its 200-day moving average is $20.36. IMAX has a 1-year low of $13.20 and a 1-year high of $26.84.

Institutional Trading of IMAX

Several institutional investors have recently made changes to their positions in the business. US Bancorp DE boosted its stake in IMAX by 23.4% during the third quarter. US Bancorp DE now owns 7,656 shares of the company’s stock worth $157,000 after buying an additional 1,452 shares during the period. Huntington National Bank bought a new position in IMAX in the 3rd quarter worth about $34,000. Headlands Technologies LLC bought a new position in IMAX in the second quarter worth approximately $35,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of IMAX by 19.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,082 shares of the company’s stock worth $212,000 after buying an additional 2,153 shares during the period. Finally, Quarry LP increased its stake in shares of IMAX by 78,333.3% during the third quarter. Quarry LP now owns 2,353 shares of the company’s stock valued at $48,000 after buying an additional 2,350 shares during the period. Hedge funds and other institutional investors own 93.51% of the company’s stock.

Insider Transactions at IMAX

In other news, insider Kenneth Ian Weissman sold 6,309 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $25.51, for a total transaction of $160,942.59. Following the completion of the sale, the insider now owns 25,139 shares of the company’s stock, valued at $641,295.89. This represents a 20.06 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Robert D. Lister sold 55,910 shares of IMAX stock in a transaction on Monday, December 9th. The stock was sold at an average price of $25.50, for a total transaction of $1,425,705.00. Following the transaction, the executive vice president now owns 138,889 shares in the company, valued at $3,541,669.50. This represents a 28.70 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 65,176 shares of company stock worth $1,662,110. Company 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.