IMAX (NYSE:IMAX) Announces Quarterly Earnings Results

IMAX (NYSE:IMAX) released its earnings results on Thursday. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.11, Briefing.com reports. IMAX had a net margin of 5.97% and a return on equity of 7.77%. The company had revenue of $88.96 million for the quarter, compared to the consensus estimate of $74.52 million. During the same quarter in the previous year, the firm earned $0.17 EPS. IMAX’s revenue was down 9.2% compared to the same quarter last year.

IMAX Trading Up 3.6 %

IMAX traded up $0.69 during midday trading on Friday, hitting $20.09. 2,156,796 shares of the company traded hands, compared to its average volume of 706,442. The company has a market capitalization of $1.06 billion, a price-to-earnings ratio of 41.86, a PEG ratio of 1.75 and a beta of 1.26. IMAX has a 52-week low of $13.20 and a 52-week high of $20.70. The business has a 50 day simple moving average of $16.75 and a two-hundred day simple moving average of $16.14.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on IMAX. Barrington Research reissued an “outperform” rating and set a $25.00 price target on shares of IMAX in a report on Friday. Roth Mkm increased their price target on shares of IMAX from $23.00 to $27.00 and gave the stock a “buy” rating in a report on Friday. Benchmark reissued a “buy” rating and set a $22.00 price target on shares of IMAX in a report on Thursday, June 20th. Macquarie increased their price target on shares of IMAX from $24.00 to $26.00 and gave the stock an “outperform” rating in a report on Friday. Finally, Seaport Res Ptn raised shares of IMAX to a “strong-buy” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, two have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, IMAX currently has an average rating of “Moderate Buy” and a consensus target price of $23.56.

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.