B. Riley Equities Analysts Lower Earnings Estimates for IMAX Co. (NYSE:IMAX)

IMAX Co. (NYSE:IMAX) – Analysts at B. Riley decreased their Q2 2024 earnings estimates for IMAX in a research note issued to investors on Sunday, July 7th. B. Riley analyst E. Wold now forecasts that the company will earn $0.01 per share for the quarter, down from their previous estimate of $0.04. B. Riley has a “Buy” rating and a $30.00 price objective on the stock. The consensus estimate for IMAX’s current full-year earnings is $0.61 per share. B. Riley also issued estimates for IMAX’s Q3 2025 earnings at $0.18 EPS.

Several other research analysts have also recently commented on the stock. Wedbush restated an “outperform” rating and set a $22.00 target price on shares of IMAX in a report on Friday, June 21st. Barrington Research restated an “outperform” rating and set a $24.00 target price on shares of IMAX in a report on Monday, April 22nd. Benchmark restated a “buy” rating and set a $22.00 target price on shares of IMAX in a report on Thursday, June 20th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $25.00 price target on shares of IMAX in a research report on Monday, June 17th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, IMAX presently has a consensus rating of “Moderate Buy” and an average target price of $21.86.

IMAX Trading Down 0.5 %

Shares of IMAX opened at $16.51 on Tuesday. IMAX has a 12 month low of $13.20 and a 12 month high of $20.70. The firm has a fifty day simple moving average of $16.52 and a 200 day simple moving average of $15.89. The stock has a market capitalization of $868.84 million, a price-to-earnings ratio of 34.40, a PEG ratio of 1.40 and a beta of 1.26.

IMAX (NYSE:IMAX) last released its quarterly earnings results on Thursday, April 25th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.05. The company had revenue of $79.12 million during the quarter, compared to analysts’ expectations of $77.88 million. IMAX had a net margin of 7.13% and a return on equity of 9.47%.

Insiders Place Their Bets

In other news, EVP Calamera Pablo sold 6,130 shares of the stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $17.05, for a total value of $104,516.50. Following the transaction, the executive vice president now directly owns 42,269 shares of the company’s stock, valued at $720,686.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 24.08% of the company’s stock.

Hedge Funds Weigh In On IMAX

Several large investors have recently modified their holdings of the stock. Mission Wealth Management LP raised its position in shares of IMAX by 3.6% in the fourth quarter. Mission Wealth Management LP now owns 50,587 shares of the company’s stock valued at $760,000 after purchasing an additional 1,737 shares during the period. Price T Rowe Associates Inc. MD increased its position in IMAX by 19.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 13,082 shares of the company’s stock worth $212,000 after acquiring an additional 2,153 shares during the period. PNC Financial Services Group Inc. bought a new position in IMAX during the fourth quarter worth about $33,000. Tower Research Capital LLC TRC increased its position in IMAX by 545.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,992 shares of the company’s stock worth $75,000 after acquiring an additional 4,218 shares during the period. Finally, Equitable Trust Co. increased its position in IMAX by 12.3% during the first quarter. Equitable Trust Co. now owns 40,710 shares of the company’s stock worth $658,000 after acquiring an additional 4,455 shares during the period. 93.51% of the stock is owned by institutional investors.

About IMAX

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.