Roth Capital Estimates IMAX’s FY2024 Earnings (NYSE:IMAX)

IMAX Co. (NYSE:IMAX) – Research analysts at Roth Capital cut their FY2024 EPS estimates for IMAX in a note issued to investors on Wednesday, January 22nd. Roth Capital analyst E. Handler now anticipates that the company will earn $0.58 per share for the year, down from their prior forecast of $0.71. The consensus estimate for IMAX’s current full-year earnings is $0.75 per share. Roth Capital also issued estimates for IMAX’s Q2 2025 earnings at $0.27 EPS and FY2026 earnings at $1.16 EPS.

A number of other analysts also recently weighed in on IMAX. JPMorgan Chase & Co. upped their target price on shares of IMAX from $20.00 to $21.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. StockNews.com raised shares of IMAX from a “hold” rating to a “buy” rating in a research note on Wednesday. Benchmark reissued a “buy” rating and issued a $30.00 price target on shares of IMAX in a research report on Friday, January 17th. Wedbush reaffirmed an “outperform” rating and set a $32.00 price objective on shares of IMAX in a research report on Friday, January 17th. Finally, Roth Mkm boosted their target price on IMAX from $27.00 to $28.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, IMAX currently has an average rating of “Buy” and a consensus target price of $28.13.

IMAX Trading Up 1.1 %

IMAX opened at $23.74 on Friday. The company has a market cap of $1.25 billion, a price-to-earnings ratio of 53.95, a price-to-earnings-growth ratio of 1.29 and a beta of 1.24. The stock has a fifty day simple moving average of $24.79 and a two-hundred day simple moving average of $22.02. IMAX has a 12-month low of $13.20 and a 12-month high of $26.84.

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

Insider Transactions at IMAX

In related news, CFO Natasha Fernandes sold 2,957 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $25.52, for a total value of $75,462.64. Following the sale, the chief financial officer now owns 14,883 shares in the company, valued at approximately $379,814.16. This trade represents a 16.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Kenneth Ian Weissman sold 6,309 shares of the business’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $25.51, for a total transaction of $160,942.59. Following the sale, the insider now owns 25,139 shares of the company’s stock, valued at approximately $641,295.89. This represents a 20.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 65,176 shares of company stock worth $1,662,110 over the last quarter. 24.08% of the stock is currently owned by insiders.

Institutional Trading of IMAX

Several large investors have recently modified their holdings of the company. FMR LLC boosted its position in IMAX by 108.4% in the third quarter. FMR LLC now owns 3,949,643 shares of the company’s stock worth $81,007,000 after purchasing an additional 2,054,031 shares during the last quarter. Lord Abbett & CO. LLC bought a new position in shares of IMAX in the 3rd quarter worth approximately $6,322,000. Castleark Management LLC purchased a new position in shares of IMAX in the third quarter worth approximately $5,199,000. Pier Capital LLC bought a new stake in IMAX during the third quarter valued at approximately $4,221,000. Finally, Victory Capital Management Inc. increased its holdings in IMAX by 9.8% during the third quarter. Victory Capital Management Inc. now owns 1,420,592 shares of the company’s stock valued at $29,136,000 after buying an additional 127,371 shares during the last quarter. Institutional investors own 93.51% 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.