Analysts forecast that Imax Corp (NYSE:IMAX) will post $99.37 million in sales for the current fiscal quarter, according to Zacks. Five analysts have made estimates for Imax’s earnings, with the highest sales estimate coming in at $101.20 million and the lowest estimate coming in at $97.88 million. Imax posted sales of $87.76 million during the same quarter last year, which suggests a positive year-over-year growth rate of 13.2%. The company is scheduled to report its next earnings results on Wednesday, July 25th.
According to Zacks, analysts expect that Imax will report full year sales of $381.94 million for the current year, with estimates ranging from $370.97 million to $395.42 million. For the next year, analysts expect that the company will report sales of $412.08 million per share, with estimates ranging from $391.70 million to $436.30 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow Imax.
Imax (NYSE:IMAX) last posted its quarterly earnings results on Tuesday, May 1st. The company reported $0.21 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.10. Imax had a net margin of 2.71% and a return on equity of 5.02%. The firm had revenue of $85.00 million for the quarter, compared to the consensus estimate of $81.64 million. During the same quarter in the previous year, the company earned $0.06 earnings per share. The business’s revenue was up 23.7% compared to the same quarter last year.
Several equities research analysts have recently commented on IMAX shares. B. Riley boosted their target price on shares of Imax from $35.00 to $37.75 and gave the company a “buy” rating in a research note on Wednesday, February 28th. Wedbush set a $32.00 target price on shares of Imax and gave the company a “buy” rating in a research note on Monday, April 9th. Barrington Research restated a “buy” rating and issued a $30.00 target price on shares of Imax in a research note on Tuesday, March 20th. Benchmark upgraded shares of Imax from a “hold” rating to a “buy” rating and set a $28.00 target price on the stock in a research note on Friday, April 27th. Finally, Roth Capital restated a “neutral” rating and issued a $22.50 target price (down previously from $25.00) on shares of Imax in a research note on Wednesday, February 28th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company. Imax has a consensus rating of “Hold” and a consensus price target of $27.32.
IMAX traded down $0.30 during trading on Friday, reaching $22.40. 6,273 shares of the company’s stock were exchanged, compared to its average volume of 655,488. Imax has a fifty-two week low of $17.58 and a fifty-two week high of $26.70. The company has a market capitalization of $1.45 billion, a P/E ratio of 126.11, a P/E/G ratio of 1.72 and a beta of 0.80.
In related news, Director Eric A. Demirian sold 3,103 shares of Imax stock in a transaction dated Thursday, June 7th. The stock was sold at an average price of $21.40, for a total value of $66,404.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 18.70% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Point72 Asia Hong Kong Ltd bought a new position in shares of Imax in the first quarter valued at about $145,000. Ladenburg Thalmann Financial Services Inc. raised its holdings in Imax by 82.2% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 7,800 shares of the company’s stock worth $150,000 after purchasing an additional 3,520 shares during the last quarter. CIBC World Markets Inc. bought a new stake in Imax during the 1st quarter worth about $194,000. Invictus RG bought a new stake in Imax during the 4th quarter worth about $213,000. Finally, Guggenheim Capital LLC raised its holdings in Imax by 18.7% during the 1st quarter. Guggenheim Capital LLC now owns 13,435 shares of the company’s stock worth $257,000 after purchasing an additional 2,116 shares during the last quarter. 81.14% of the stock is owned by institutional investors and hedge funds.
Imax Company Profile
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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