FY2024 Earnings Estimate for IMAX Co. Issued By Roth Capital (NYSE:IMAX)

IMAX Co. (NYSE:IMAX) – Equities researchers at Roth Capital cut their FY2024 earnings per share estimates for shares of IMAX in a report issued on Thursday, October 10th. Roth Capital analyst E. Handler now expects that the company will earn $0.68 per share for the year, down from their prior estimate of $0.70. The consensus estimate for IMAX’s current full-year earnings is $0.69 per share. Roth Capital also issued estimates for IMAX’s FY2026 earnings at $1.13 EPS.

IMAX has been the topic of a number of other reports. Benchmark reissued a “buy” rating and issued a $22.00 price target on shares of IMAX in a research report on Thursday, June 20th. JPMorgan Chase & Co. upped their price objective on IMAX from $20.00 to $21.00 and gave the company a “neutral” rating in a research report on Monday. Seaport Res Ptn upgraded IMAX to a “strong-buy” rating in a research note on Wednesday, July 24th. Roth Mkm reiterated a “buy” rating and set a $27.00 target price on shares of IMAX in a research note on Thursday, October 10th. Finally, Wedbush increased their target price on IMAX from $24.00 to $26.00 and gave the company an “outperform” rating in a research note on Tuesday, September 3rd. One analyst has rated the stock with a sell rating, two have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $24.11.

IMAX Price Performance

Shares of IMAX stock opened at $20.79 on Monday. The business’s 50 day simple moving average is $20.50 and its two-hundred day simple moving average is $18.27. The stock has a market capitalization of $1.09 billion, a P/E ratio of 43.31, a price-to-earnings-growth ratio of 1.41 and a beta of 1.25. IMAX has a one year low of $13.20 and a one year high of $22.13.

IMAX (NYSE:IMAX) last announced its quarterly earnings data on Thursday, July 25th. The company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.11. IMAX had a return on equity of 7.78% and a net margin of 5.97%. The company had revenue of $88.96 million for the quarter, compared to analysts’ expectations of $74.52 million. During the same period last year, the firm posted $0.17 EPS. IMAX’s revenue for the quarter was down 9.2% compared to the same quarter last year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in IMAX. PNC Financial Services Group Inc. acquired a new position in shares of IMAX in the 4th quarter valued at $33,000. Quadrature Capital Ltd lifted its stake in shares of IMAX by 9.9% in the 4th quarter. Quadrature Capital Ltd now owns 60,867 shares of the company’s stock valued at $914,000 after purchasing an additional 5,470 shares during the last quarter. Partnership Wealth Management LLC lifted its stake in shares of IMAX by 63.1% in the 1st 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 during the last quarter. Private Capital Management LLC lifted its stake in shares of IMAX by 54.3% in the 4th 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 during the last quarter. Finally, Principal Financial Group Inc. acquired a new position in shares of IMAX in the 1st quarter valued at $871,000. 93.51% of the stock is currently owned by institutional investors and hedge funds.

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.