Research Analysts Issue Forecasts for IMAX FY2024 Earnings

IMAX Co. (NYSE:IMAX) – Equities research analysts at Wedbush lowered their FY2024 earnings per share estimates for IMAX in a research note issued to investors on Wednesday, February 12th. Wedbush analyst A. Reese now forecasts that the company will earn $0.66 per share for the year, down from their prior estimate of $0.78. Wedbush currently has a “Outperform” rating and a $32.00 target price on the stock. The consensus estimate for IMAX’s current full-year earnings is $0.66 per share. Wedbush also issued estimates for IMAX’s Q4 2024 earnings at $0.21 EPS, Q2 2025 earnings at $0.10 EPS, FY2025 earnings at $0.92 EPS and FY2026 earnings at $1.11 EPS.

A number of other research analysts have also weighed in on IMAX. Rosenblatt Securities reissued a “buy” rating and issued a $28.00 price objective on shares of IMAX in a report on Thursday, January 16th. JPMorgan Chase & Co. raised their target price on IMAX from $21.00 to $25.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. Barrington Research reaffirmed an “outperform” rating and set a $30.00 target price on shares of IMAX in a report on Friday, January 10th. StockNews.com lowered IMAX from a “buy” rating to a “hold” rating in a report on Thursday. Finally, Benchmark reaffirmed a “buy” rating and set a $30.00 target price on shares of IMAX in a report on Friday, January 17th. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, IMAX presently has an average rating of “Moderate Buy” and an average price target of $28.63.

IMAX Stock Performance

Shares of IMAX stock opened at $26.82 on Friday. The stock’s 50-day simple moving average is $24.53 and its 200-day simple moving average is $22.75. The firm has a market capitalization of $1.41 billion, a PE ratio of 60.96, a P/E/G ratio of 1.40 and a beta of 1.22. IMAX has a fifty-two week low of $14.06 and a fifty-two week high of $26.85.

Insiders Place Their Bets

In other news, EVP Robert D. Lister sold 55,910 shares of IMAX stock in a transaction on Monday, December 9th. The stock was sold at an average price of $25.50, for a total value of $1,425,705.00. Following the completion of the sale, the executive vice president now directly owns 138,889 shares of the company’s stock, valued at approximately $3,541,669.50. The trade was a 28.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Kenneth Ian Weissman sold 6,309 shares of IMAX stock in a transaction on Monday, December 9th. The shares were sold at an average price of $25.51, for a total value of $160,942.59. Following the completion of the sale, the insider now directly owns 25,139 shares of the company’s stock, valued at $641,295.89. The trade was a 20.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 65,176 shares of company stock valued at $1,662,110 over the last quarter. 24.08% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of IMAX. FMR LLC grew its stake in IMAX by 108.4% during the 3rd 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 in the last quarter. Raymond James Financial Inc. acquired a new position in IMAX during the 4th quarter worth $9,143,000. Lord Abbett & CO. LLC purchased a new stake in IMAX during the 3rd quarter worth about $6,322,000. Pier Capital LLC lifted its holdings in IMAX by 132.6% during the 4th quarter. Pier Capital LLC now owns 478,760 shares of the company’s stock worth $12,256,000 after buying an additional 272,949 shares during the last quarter. Finally, Castleark Management LLC purchased a new stake in IMAX during the 3rd quarter worth about $5,199,000. 93.51% of the stock is owned by institutional investors and hedge funds.

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.