Q1 2024 Earnings Forecast for IMAX Co. (NYSE:IMAX) Issued By Wedbush

IMAX Co. (NYSE:IMAX) – Investment analysts at Wedbush boosted their Q1 2024 earnings per share estimates for shares of IMAX in a note issued to investors on Thursday, April 18th. Wedbush analyst A. Reese now forecasts that the company will earn $0.08 per share for the quarter, up from their previous forecast of $0.02. Wedbush has a “Outperform” rating and a $22.00 price objective on the stock. The consensus estimate for IMAX’s current full-year earnings is $0.56 per share. Wedbush also issued estimates for IMAX’s Q4 2024 earnings at $0.37 EPS, FY2024 earnings at $0.87 EPS, Q3 2025 earnings at $0.41 EPS and FY2026 earnings at $1.50 EPS.

IMAX has been the subject of a number of other reports. Benchmark reaffirmed a “buy” rating and set a $22.00 target price on shares of IMAX in a research report on Tuesday, April 16th. JPMorgan Chase & Co. lowered their price objective on shares of IMAX from $20.00 to $17.00 and set a “neutral” rating for the company in a research note on Tuesday, February 6th. StockNews.com downgraded shares of IMAX from a “buy” rating to a “hold” rating in a research report on Saturday, January 27th. Rosenblatt Securities reduced their price target on shares of IMAX from $30.00 to $25.00 and set a “buy” rating for the company in a report on Tuesday, February 13th. Finally, The Goldman Sachs Group dropped their price objective on shares of IMAX from $15.00 to $13.00 and set a “sell” rating on the stock in a research note on Thursday, January 11th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, IMAX currently has an average rating of “Moderate Buy” and an average target price of $20.57.

IMAX Stock Performance

Shares of NYSE:IMAX opened at $17.15 on Monday. The firm has a market cap of $908.09 million, a PE ratio of 37.28, a price-to-earnings-growth ratio of 1.52 and a beta of 1.25. The firm’s 50 day simple moving average is $16.19 and its 200-day simple moving average is $16.09. IMAX has a one year low of $13.20 and a one year high of $21.82.

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

Insider Activity at IMAX

In other IMAX news, VP Robert D. Lister sold 25,000 shares of the business’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $16.87, for a total transaction of $421,750.00. Following the transaction, the vice president now owns 138,889 shares of the company’s stock, valued at $2,343,057.43. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 24.33% of the stock is currently owned by corporate insiders.

Institutional Trading of IMAX

Several hedge funds have recently made changes to their positions in the business. PNC Financial Services Group Inc. purchased a new stake in shares of IMAX during the fourth quarter worth approximately $33,000. Tower Research Capital LLC TRC raised its holdings in shares of IMAX by 545.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,992 shares of the company’s stock valued at $75,000 after purchasing an additional 4,218 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of IMAX in the 3rd quarter valued at $139,000. Partnership Wealth Management LLC purchased a new stake in shares of IMAX during the 4th quarter worth $111,000. Finally, C M Bidwell & Associates Ltd. acquired a new position in shares of IMAX during the third quarter worth $160,000. Institutional investors and hedge funds 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.