Equities Analysts Set Expectations for IMAX FY2024 Earnings

IMAX Co. (NYSE:IMAX) – Research analysts at Wedbush decreased their FY2024 earnings per share estimates for shares of IMAX in a research note issued on Wednesday, February 12th. Wedbush analyst A. Reese now forecasts that the company will earn $0.66 per share for the year, down from their previous estimate of $0.78. Wedbush currently has a “Outperform” rating and a $32.00 target price on the stock. The consensus estimate for IMAX’s current full-year earnings is $0.66 per share. Wedbush also issued estimates for IMAX’s Q4 2024 earnings at $0.21 EPS, Q2 2025 earnings at $0.10 EPS, FY2025 earnings at $0.92 EPS and FY2026 earnings at $1.11 EPS.

A number of other equities research analysts have also recently weighed in on IMAX. StockNews.com cut IMAX from a “buy” rating to a “hold” rating in a research note on Thursday. Roth Mkm increased their price target on IMAX from $27.00 to $28.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Barrington Research restated an “outperform” rating and issued a $30.00 price target on shares of IMAX in a research note on Friday, January 10th. JPMorgan Chase & Co. increased their price target on IMAX from $21.00 to $25.00 and gave the company a “neutral” rating in a research note on Thursday, January 30th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $28.00 price target on shares of IMAX in a research note on Thursday, January 16th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $28.63.

IMAX Trading Up 0.6 %

NYSE IMAX opened at $27.00 on Friday. The company has a market cap of $1.42 billion, a PE ratio of 61.36, a PEG ratio of 1.40 and a beta of 1.22. IMAX has a 12 month low of $14.48 and a 12 month high of $27.29. The stock has a 50 day moving average of $24.55 and a 200-day moving average of $22.79.

Institutional Trading of IMAX

A number of hedge funds have recently made changes to their positions in the company. FMR LLC boosted its stake in shares of IMAX by 14.2% during the fourth quarter. FMR LLC now owns 4,508,583 shares of the company’s stock valued at $115,420,000 after purchasing an additional 558,940 shares in the last quarter. Royce & Associates LP lifted its stake in shares of IMAX by 3.1% in the third quarter. Royce & Associates LP now owns 1,822,616 shares of the company’s stock worth $37,382,000 after acquiring an additional 54,850 shares during the period. Victory Capital Management Inc. lifted its stake in shares of IMAX by 9.8% in the third quarter. Victory Capital Management Inc. now owns 1,420,592 shares of the company’s stock worth $29,136,000 after acquiring an additional 127,371 shares during the period. Wells Fargo & Company MN lifted its stake in shares of IMAX by 45.4% in the fourth quarter. Wells Fargo & Company MN now owns 624,510 shares of the company’s stock worth $15,987,000 after acquiring an additional 194,917 shares during the period. Finally, Vanguard Group Inc. lifted its stake in shares of IMAX by 11.0% in the fourth quarter. Vanguard Group Inc. now owns 612,115 shares of the company’s stock worth $15,670,000 after acquiring an additional 60,762 shares during the period. 93.51% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Kenneth Ian Weissman sold 6,309 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $25.51, for a total value of $160,942.59. Following the sale, the insider now directly owns 25,139 shares of the company’s stock, valued at $641,295.89. This trade represents a 20.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Robert D. Lister sold 55,910 shares of the firm’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $25.50, for a total value of $1,425,705.00. Following the completion of the sale, the executive vice president now directly owns 138,889 shares in the company, valued at $3,541,669.50. This trade represents a 28.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have 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.