IMAX Co. (NYSE:IMAX) Forecasted to Earn Q2 2024 Earnings of ($0.04) Per Share

IMAX Co. (NYSE:IMAX) – Equities researchers at Seaport Res Ptn issued their Q2 2024 earnings per share estimates for shares of IMAX in a research note issued to investors on Wednesday, July 24th. Seaport Res Ptn analyst D. Joyce anticipates that the company will post earnings per share of ($0.04) for the quarter. Seaport Res Ptn currently has a “Strong-Buy” rating on the stock. The consensus estimate for IMAX’s current full-year earnings is $0.56 per share. Seaport Res Ptn also issued estimates for IMAX’s Q3 2024 earnings at $0.12 EPS, Q4 2024 earnings at $0.26 EPS, FY2024 earnings at $0.45 EPS and FY2025 earnings at $0.63 EPS.

Several other equities research analysts have also issued reports on the stock. B. Riley increased their price objective on shares of IMAX from $27.00 to $30.00 and gave the stock a “buy” rating in a research report on Monday, July 8th. Barrington Research reiterated an “outperform” rating and issued a $25.00 price target on shares of IMAX in a report on Friday, July 26th. Macquarie boosted their price objective on IMAX from $24.00 to $26.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Roth Mkm upped their target price on IMAX from $23.00 to $27.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Finally, Benchmark reiterated a “buy” rating and set a $22.00 target price on shares of IMAX in a report on Thursday, June 20th. One analyst has rated the stock with a sell rating, two have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.56.

IMAX Stock Performance

NYSE IMAX opened at $20.66 on Monday. The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of 43.04, a PEG ratio of 1.80 and a beta of 1.26. IMAX has a one year low of $13.20 and a one year high of $20.97. The company’s 50 day moving average price is $16.89 and its 200 day moving average price is $16.23.

IMAX (NYSE:IMAX) last released its quarterly earnings data on Thursday, July 25th. The company reported $0.18 EPS for the quarter, topping 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 the consensus estimate of $74.52 million. During the same period last year, the business posted $0.17 EPS. The company’s quarterly revenue was down 9.2% compared to the same quarter last year.

Institutional Investors Weigh In On IMAX

Hedge funds have recently bought and sold shares of the business. Principal Financial Group Inc. raised its holdings in IMAX by 18.5% in the second quarter. Principal Financial Group Inc. now owns 63,818 shares of the company’s stock valued at $1,070,000 after acquiring an additional 9,974 shares in the last quarter. Summit Securities Group LLC bought a new stake in shares of IMAX in the 2nd quarter worth about $80,000. Bank of New York Mellon Corp raised its stake in shares of IMAX by 90.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 587,694 shares of the company’s stock valued at $9,856,000 after purchasing an additional 279,410 shares in the last quarter. Laurus Investment Counsel Inc. bought a new position in shares of IMAX during the second quarter worth about $150,000. Finally, Private Capital Management LLC grew its stake in IMAX by 10.0% in the first quarter. Private Capital Management LLC now owns 1,304,364 shares of the company’s stock worth $21,092,000 after purchasing an additional 118,649 shares in the last quarter. 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.