Q3 2019 Earnings Estimate for Imax Corp Issued By Wedbush (NYSE:IMAX)

Imax Corp (NYSE:IMAX) – Analysts at Wedbush boosted their Q3 2019 earnings estimates for Imax in a report issued on Monday, April 29th, Zacks Investment Research reports. Wedbush analyst M. Pachter now expects that the company will earn $0.17 per share for the quarter, up from their prior forecast of $0.16. Wedbush has a “Buy” rating and a $28.00 price target on the stock. Wedbush also issued estimates for Imax’s Q4 2019 earnings at $0.36 EPS, FY2019 earnings at $0.88 EPS, Q2 2020 earnings at $0.24 EPS and Q4 2020 earnings at $0.32 EPS.

Imax (NYSE:IMAX) last issued its earnings results on Friday, April 26th. The company reported $0.12 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.01. Imax had a return on equity of 6.31% and a net margin of 6.12%. The firm had revenue of $80.20 million for the quarter, compared to the consensus estimate of $81.29 million. During the same quarter last year, the business posted $0.21 EPS. The company’s revenue was down 5.6% compared to the same quarter last year.

A number of other brokerages have also recently commented on IMAX. Barrington Research reiterated a “buy” rating and issued a $27.00 price target on shares of Imax in a research note on Wednesday, March 6th. MKM Partners increased their price target on Imax to $28.00 and gave the company a “buy” rating in a research note on Friday, April 12th. B. Riley set a $34.00 price target on Imax and gave the company a “buy” rating in a research note on Friday, April 26th. TheStreet upgraded Imax from a “c” rating to a “b-” rating in a research note on Friday, April 26th. Finally, Canaccord Genuity cut Imax from a “buy” rating to a “hold” rating and set a $23.00 price target for the company. in a research note on Monday, February 25th. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $26.83.

Shares of IMAX opened at $23.24 on Wednesday. Imax has a 52 week low of $17.55 and a 52 week high of $26.10. The firm has a market capitalization of $1.45 billion, a PE ratio of 41.50, a PEG ratio of 1.53 and a beta of 1.08.

In related news, VP Robert D. Lister sold 44,767 shares of the firm’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $22.36, for a total transaction of $1,000,990.12. Following the completion of the transaction, the vice president now directly owns 39,163 shares of the company’s stock, valued at approximately $875,684.68. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Jeffrey Vance sold 1,436 shares of the firm’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $22.43, for a total value of $32,209.48. Following the transaction, the senior vice president now directly owns 3,875 shares of the company’s stock, valued at $86,916.25. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 150,930 shares of company stock valued at $3,452,599. 18.70% of the stock is owned by corporate insiders.

A number of large investors have recently made changes to their positions in the stock. BlueMountain Capital Management LLC raised its position in Imax by 139.4% during the 1st quarter. BlueMountain Capital Management LLC now owns 11,108 shares of the company’s stock worth $252,000 after purchasing an additional 6,469 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. raised its position in Imax by 24.7% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 10,600 shares of the company’s stock worth $240,000 after purchasing an additional 2,100 shares during the last quarter. SEI Investments Co raised its position in Imax by 11.4% during the 1st quarter. SEI Investments Co now owns 76,982 shares of the company’s stock worth $1,746,000 after purchasing an additional 7,900 shares during the last quarter. Ellington Management Group LLC bought a new position in Imax during the 1st quarter worth $363,000. Finally, Hsbc Holdings PLC bought a new position in Imax during the 1st quarter worth $385,000. 79.82% of the stock is owned by institutional investors and hedge funds.

About Imax

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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