Imax Corp (NYSE:IMAX) Expected to Post Earnings of $0.41 Per Share

Brokerages expect Imax Corp (NYSE:IMAX) to announce $0.41 earnings per share for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Imax’s earnings. The highest EPS estimate is $0.44 and the lowest is $0.34. Imax posted earnings per share of $0.26 in the same quarter last year, which would suggest a positive year-over-year growth rate of 57.7%. The company is expected to announce its next earnings results on Tuesday, February 25th.

According to Zacks, analysts expect that Imax will report full-year earnings of $1.09 per share for the current year, with EPS estimates ranging from $1.05 to $1.12. For the next year, analysts expect that the company will post earnings of $1.22 per share, with EPS estimates ranging from $1.09 to $1.30. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Imax.

Imax (NYSE:IMAX) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.01. Imax had a return on equity of 6.90% and a net margin of 7.99%. The business had revenue of $86.40 million for the quarter, compared to the consensus estimate of $87.23 million. During the same period in the prior year, the firm posted $0.14 earnings per share. The business’s quarterly revenue was up 5.2% on a year-over-year basis.

A number of research analysts have recently weighed in on IMAX shares. B. Riley reissued a “buy” rating and issued a $30.00 price objective on shares of Imax in a report on Thursday. ValuEngine cut shares of Imax from a “sell” rating to a “strong sell” rating in a research note on Wednesday, November 20th. Zacks Investment Research lowered shares of Imax from a “hold” rating to a “sell” rating and set a $23.00 target price for the company. in a report on Tuesday, October 1st. Goldman Sachs Group set a $23.00 target price on shares of Imax and gave the company a “hold” rating in a research note on Tuesday, October 15th. Finally, Canaccord Genuity raised shares of Imax from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a report on Friday, November 1st. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. Imax presently has an average rating of “Hold” and a consensus price target of $26.29.

In related news, insider Mark Welton sold 2,831 shares of Imax stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $21.25, for a total value of $60,158.75. Following the completion of the transaction, the insider now owns 5,670 shares in the company, valued at approximately $120,487.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 20.20% of the stock is owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the business. First Trust Advisors LP increased its stake in shares of Imax by 73.0% during the first quarter. First Trust Advisors LP now owns 38,383 shares of the company’s stock worth $871,000 after purchasing an additional 16,201 shares in the last quarter. Strs Ohio acquired a new stake in Imax in the 2nd quarter worth about $595,000. SG Americas Securities LLC increased its stake in Imax by 338.9% during the 2nd quarter. SG Americas Securities LLC now owns 95,246 shares of the company’s stock worth $1,924,000 after buying an additional 73,547 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Imax by 107.4% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,649 shares of the company’s stock worth $134,000 after buying an additional 3,443 shares in the last quarter. Finally, Aperio Group LLC purchased a new stake in Imax during the 2nd quarter worth approximately $35,000. 78.14% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE:IMAX traded up $0.29 on Friday, hitting $21.84. 209,695 shares of the company were exchanged, compared to its average volume of 226,790. The firm has a market capitalization of $1.32 billion, a P/E ratio of 39.00, a price-to-earnings-growth ratio of 1.53 and a beta of 0.94. Imax has a 1-year low of $17.55 and a 1-year high of $25.75. The stock’s 50 day moving average price is $21.39 and its 200 day moving average price is $21.17.

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, and 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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