Roth Capital Brokers Lower Earnings Estimates for IMAX Co. (NYSE:IMAX)

IMAX Co. (NYSE:IMAX) – Analysts at Roth Capital lowered their FY2024 EPS estimates for shares of IMAX in a report released on Wednesday, April 10th. Roth Capital analyst E. Handler now expects that the company will earn $0.59 per share for the year, down from their previous estimate of $0.62. The consensus estimate for IMAX’s current full-year earnings is $0.58 per share. Roth Capital also issued estimates for IMAX’s FY2025 earnings at $0.93 EPS and FY2026 earnings at $1.07 EPS.

Other analysts have also issued reports about the stock. B. Riley reduced their price objective on shares of IMAX from $27.00 to $21.00 and set a “buy” rating on the stock in a research report on Tuesday, January 2nd. StockNews.com lowered shares of IMAX from a “buy” rating to a “hold” rating in a research report on Saturday, January 27th. JPMorgan Chase & Co. reduced their target price on shares of IMAX from $20.00 to $17.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 6th. The Goldman Sachs Group reduced their target price on shares of IMAX from $15.00 to $13.00 and set a “sell” rating on the stock in a research report on Thursday, January 11th. Finally, Benchmark reaffirmed a “buy” rating and set a $22.00 target price on shares of IMAX in a research report on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, IMAX currently has an average rating of “Moderate Buy” and a consensus price target of $20.57.

IMAX Price Performance

IMAX stock opened at $16.43 on Monday. IMAX has a 1-year low of $13.20 and a 1-year high of $21.82. The firm has a market capitalization of $869.97 million, a P/E ratio of 35.72, a price-to-earnings-growth ratio of 1.42 and a beta of 1.25. The company’s 50-day moving average is $15.81 and its 200 day moving average is $16.18.

IMAX (NYSE:IMAX) last announced its earnings results on Tuesday, February 27th. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.12. IMAX had a net margin of 6.76% and a return on equity of 9.59%. The firm had revenue of $86.02 million for the quarter, compared to analysts’ expectations of $85.83 million. During the same period in the prior year, the company earned $0.05 EPS. The business’s revenue was down 12.3% compared to the same quarter last year.

Insider Activity

In other news, VP Robert D. Lister sold 25,000 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $16.87, for a total transaction of $421,750.00. Following the transaction, the vice president now directly owns 138,889 shares in the company, valued at $2,343,057.43. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 24.33% of the company’s stock.

Institutional Investors Weigh In On IMAX

Institutional investors have recently bought and sold shares of the company. PNC Financial Services Group Inc. acquired a new stake in IMAX in the fourth quarter valued at approximately $33,000. Tower Research Capital LLC TRC lifted its stake in shares of IMAX by 164.8% during the third quarter. Tower Research Capital LLC TRC now owns 3,260 shares of the company’s stock worth $46,000 after buying an additional 2,029 shares during the period. Point72 Hong Kong Ltd acquired a new stake in shares of IMAX during the fourth quarter worth $65,000. Tower Research Capital LLC TRC lifted its stake in shares of IMAX by 545.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,992 shares of the company’s stock worth $75,000 after buying an additional 4,218 shares during the period. Finally, SRS Capital Advisors Inc. lifted its stake in shares of IMAX by 11.1% during the first quarter. SRS Capital Advisors Inc. now owns 6,492 shares of the company’s stock worth $125,000 after buying an additional 650 shares during the period. 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.