IMAX (NYSE:IMAX) Issues Quarterly Earnings Results

IMAX (NYSE:IMAX) posted its quarterly earnings results on Thursday. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.11, Briefing.com reports. IMAX had a net margin of 5.97% and a return on equity of 7.77%. The firm had revenue of $88.96 million for the quarter, compared to analyst estimates of $74.52 million. During the same period in the prior year, the firm posted $0.17 earnings per share. The company’s quarterly revenue was down 9.2% compared to the same quarter last year.

IMAX Stock Performance

NYSE:IMAX traded up $0.69 during mid-day trading on Friday, reaching $20.09. 2,156,796 shares of the company’s stock were exchanged, compared to its average volume of 706,442. IMAX has a one year low of $13.20 and a one year high of $20.70. The firm has a market capitalization of $1.06 billion, a PE ratio of 41.86, a price-to-earnings-growth ratio of 1.69 and a beta of 1.26. The business’s fifty day simple moving average is $16.75 and its two-hundred day simple moving average is $16.12.

Wall Street Analyst Weigh In

Several research firms have issued reports on IMAX. Roth Mkm upped their price target on shares of IMAX from $23.00 to $27.00 and gave the stock a “buy” rating in a research report on Friday. Wedbush upped their price target on shares of IMAX from $22.00 to $24.00 and gave the stock an “outperform” rating in a research report on Friday. Macquarie upped their price target on shares of IMAX from $24.00 to $26.00 and gave the stock an “outperform” rating in a research report on Friday. Rosenblatt Securities increased their price objective on shares of IMAX from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Friday. Finally, Benchmark reissued a “buy” rating and issued a $22.00 price objective on shares of IMAX in a research report on Thursday, June 20th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, IMAX currently has an average rating of “Moderate Buy” and a consensus target price of $23.56.

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.