Brokerages predict that Imax Corp (NYSE:IMAX) will post $0.11 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Imax’s earnings. The lowest EPS estimate is $0.10 and the highest is $0.13. Imax reported earnings per share of $0.08 during the same quarter last year, which would suggest a positive year-over-year growth rate of 37.5%. The business is scheduled to announce its next quarterly earnings results on Thursday, October 25th.
On average, analysts expect that Imax will report full-year earnings of $0.99 per share for the current financial year, with EPS estimates ranging from $0.95 to $1.11. For the next year, analysts expect that the business will report earnings of $1.11 per share, with EPS estimates ranging from $0.97 to $1.19. Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that follow Imax.
Imax (NYSE:IMAX) last issued its quarterly earnings data on Wednesday, July 25th. The company reported $0.22 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.04. The business had revenue of $98.35 million for the quarter, compared to analysts’ expectations of $98.49 million. Imax had a return on equity of 6.37% and a net margin of 4.93%. The company’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.15 EPS.
Several analysts have recently issued reports on IMAX shares. Benchmark raised Imax from a “hold” rating to a “buy” rating and set a $28.00 price objective on the stock in a report on Friday, April 27th. ValuEngine downgraded Imax from a “hold” rating to a “sell” rating in a research report on Thursday, July 26th. Zacks Investment Research downgraded Imax from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 24th. B. Riley cut their target price on Imax from $37.75 to $34.00 and set a “buy” rating on the stock in a research report on Wednesday, May 2nd. Finally, Wedbush set a $32.00 target price on Imax and gave the company a “buy” rating in a research report on Thursday, July 26th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company. Imax has a consensus rating of “Hold” and a consensus target price of $27.15.
Shares of IMAX traded up $0.75 during mid-day trading on Monday, hitting $23.15. 1,310,500 shares of the stock were exchanged, compared to its average volume of 804,796. The stock has a market capitalization of $1.42 billion, a price-to-earnings ratio of 126.11, a price-to-earnings-growth ratio of 1.72 and a beta of 0.79. Imax has a 52-week low of $17.58 and a 52-week high of $26.70.
In other Imax news, insider Robert D. Lister sold 15,000 shares of the company’s stock in a transaction on Thursday, August 16th. The stock was sold at an average price of $22.67, for a total value of $340,050.00. Following the transaction, the insider now owns 51,247 shares of the company’s stock, valued at approximately $1,161,769.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Patrick Mcclymont sold 1,915 shares of the company’s stock in a transaction on Thursday, August 9th. The shares were sold at an average price of $22.65, for a total value of $43,374.75. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,018 shares of company stock worth $667,429. Corporate insiders own 18.70% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the business. Verition Fund Management LLC bought a new position in Imax in the 2nd quarter valued at $440,000. B. Riley Financial Inc. bought a new position in Imax in the 2nd quarter valued at $242,000. Bank of America Corp DE grew its position in Imax by 47.7% in the 2nd quarter. Bank of America Corp DE now owns 146,376 shares of the company’s stock valued at $3,242,000 after acquiring an additional 47,249 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Imax in the 2nd quarter valued at $430,000. Finally, Renaissance Technologies LLC bought a new position in Imax in the 2nd quarter valued at $202,000. 82.19% of the stock is currently owned by institutional investors.
IMAX Corporation, together with its subsidiaries, operates as an entertainment technology company that specializes in motion picture technologies and presentations worldwide. It offers cinematic solution comprising proprietary software, theater architecture, and equipment. The company engages in Digital Re-Mastering (DMR) of films into the IMAX format for exhibition in the IMAX theater network; the provision of IMAX premium theater systems to exhibitor customers through sales, long-term leases, or joint revenue sharing arrangements; the distribution of documentary films; the provision of production technical support and film post-production services; the ownership and operation of IMAX theaters; and the provision of camera and other miscellaneous items rental services.
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