IMAX (NYSE:IMAX) Posts Earnings Results, Beats Estimates By $0.15 EPS

IMAX (NYSE:IMAX) announced its earnings results on Wednesday. The company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.15, FiscalAI reports. IMAX had a net margin of 10.47% and a return on equity of 9.91%. The business had revenue of $125.21 million during the quarter, compared to the consensus estimate of $120.30 million.

IMAX Stock Performance

IMAX stock traded down $0.29 during mid-day trading on Wednesday, reaching $36.54. 1,108,190 shares of the company were exchanged, compared to its average volume of 1,074,135. The firm has a market cap of $1.97 billion, a PE ratio of 51.47, a price-to-earnings-growth ratio of 1.82 and a beta of 0.38. The firm’s 50-day simple moving average is $36.25 and its two-hundred day simple moving average is $33.79. IMAX has a twelve month low of $20.48 and a twelve month high of $39.98.

Analyst Ratings Changes

Several analysts have recently commented on IMAX shares. Wells Fargo & Company upped their price objective on shares of IMAX from $40.00 to $47.00 and gave the company an “overweight” rating in a report on Thursday, December 18th. Benchmark reiterated a “buy” rating on shares of IMAX in a research note on Monday, January 5th. Weiss Ratings reissued a “buy (b)” rating on shares of IMAX in a research note on Monday, December 29th. Rosenblatt Securities reissued a “buy” rating and set a $47.00 price target on shares of IMAX in a research report on Tuesday. Finally, Barrington Research reiterated an “outperform” rating and issued a $42.00 price objective on shares of IMAX in a report on Monday, January 26th. Ten research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, IMAX has an average rating of “Moderate Buy” and an average price target of $42.70.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. CIBC Private Wealth Group LLC acquired a new position in shares of IMAX during the 3rd quarter worth approximately $27,000. Quarry LP increased its stake in IMAX by 166.8% in the fourth quarter. Quarry LP now owns 875 shares of the company’s stock valued at $32,000 after purchasing an additional 547 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its position in IMAX by 2,310.4% during the third quarter. Caitong International Asset Management Co. Ltd now owns 1,157 shares of the company’s stock worth $38,000 after buying an additional 1,109 shares during the period. Aster Capital Management DIFC Ltd boosted its stake in IMAX by 863.0% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,666 shares of the company’s stock worth $62,000 after buying an additional 1,493 shares during the last quarter. Finally, Kestra Advisory Services LLC purchased a new stake in IMAX in the 4th quarter valued at about $74,000. Hedge funds and other institutional investors own 93.51% of the company’s stock.

IMAX Company Profile

IMAX Corporation is a global leader in immersive entertainment technologies, specializing in the design, manufacture and distribution of high-resolution cameras, projectors, and proprietary software solutions that enhance both film production and theatrical exhibition. The company licenses its premium large-format system to theatre owners and filmmakers around the world, enabling audiences to experience movies with greater clarity, scale and sound fidelity. IMAX also offers turnkey theatre development services, assisting cinema operators with auditorium design, installation and custom branding to optimize the customer experience.

Founded in 1967 and headquartered in Mississauga, Ontario, IMAX has built a reputation for pioneering film-format innovations, including its patented dual 15-perforation, 70-millimeter projection system.