Wall Street brokerages forecast that Imax Corp (NYSE:IMAX) will announce earnings per share of ($0.12) for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Imax’s earnings. The highest EPS estimate is ($0.07) and the lowest is ($0.20). Imax reported earnings per share of $0.32 during the same quarter last year, which indicates a negative year over year growth rate of 137.5%. The company is scheduled to report its next earnings report on Tuesday, August 4th.
On average, analysts expect that Imax will report full-year earnings of ($1.03) per share for the current year, with EPS estimates ranging from ($1.45) to ($0.51). For the next financial year, analysts expect that the firm will report earnings of $0.55 per share, with EPS estimates ranging from $0.24 to $0.75. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research analysts that follow Imax.
Imax (NYSE:IMAX) last issued its quarterly earnings results on Thursday, April 30th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.21) by ($0.27). The business had revenue of $34.90 million during the quarter, compared to the consensus estimate of $43.23 million. Imax had a negative net margin of 3.07% and a positive return on equity of 1.08%. The company’s revenue for the quarter was down 56.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.18 EPS.
A number of equities research analysts recently weighed in on the company. Barrington Research restated a “buy” rating and set a $15.00 price objective on shares of Imax in a research report on Thursday, April 30th. Benchmark upgraded Imax from a “hold” rating to a “buy” rating and set a $14.00 price objective on the stock in a research report on Tuesday, April 28th. restated a “sell” rating on shares of Imax in a research report on Tuesday, June 9th. ValuEngine raised Imax from a “hold” rating to a “buy” rating in a report on Friday, April 17th. Finally, MKM Partners cut their target price on Imax from $24.00 to $20.00 and set a “buy” rating on the stock in a report on Wednesday, April 15th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $16.33.
Several large investors have recently made changes to their positions in the company. Deutsche Bank AG raised its stake in Imax by 1,320.5% during the 1st quarter. Deutsche Bank AG now owns 1,182,450 shares of the company’s stock worth $10,701,000 after buying an additional 1,099,211 shares during the period. Norges Bank acquired a new position in Imax during the 4th quarter worth approximately $21,624,000. Bank of New York Mellon Corp raised its stake in Imax by 379.1% during the 1st quarter. Bank of New York Mellon Corp now owns 740,792 shares of the company’s stock worth $6,705,000 after buying an additional 586,181 shares during the period. BlackRock Inc. raised its stake in Imax by 14.7% during the 1st quarter. BlackRock Inc. now owns 3,237,220 shares of the company’s stock worth $29,294,000 after buying an additional 413,885 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its stake in Imax by 18.9% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,039,997 shares of the company’s stock worth $18,462,000 after buying an additional 324,364 shares during the period. 73.82% of the stock is currently owned by institutional investors.
IMAX stock traded up $0.08 during midday trading on Tuesday, reaching $11.21. 877,720 shares of the stock were exchanged, compared to its average volume of 1,150,400. The stock has a market capitalization of $619.61 million, a PE ratio of -59.00 and a beta of 1.51. Imax has a 52 week low of $6.01 and a 52 week high of $22.88. The company has a fifty day moving average price of $12.36 and a 200 day moving average price of $14.75.
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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