Analysts Anticipate IMAX Co. (NYSE:IMAX) to Announce -$0.11 EPS

Analysts expect IMAX Co. (NYSE:IMAX) to report earnings of ($0.11) per share for the current quarter, according to Zacks. Four analysts have issued estimates for IMAX’s earnings, with estimates ranging from ($0.17) to $0.01. IMAX posted earnings per share of ($0.75) in the same quarter last year, which suggests a positive year over year growth rate of 85.3%. The business is scheduled to issue its next earnings results on Thursday, November 4th.

According to Zacks, analysts expect that IMAX will report full year earnings of ($0.40) per share for the current year, with EPS estimates ranging from ($0.52) to ($0.11). For the next year, analysts expect that the business will post earnings of $0.68 per share, with EPS estimates ranging from $0.40 to $0.88. Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that that provide coverage for IMAX.

IMAX (NYSE:IMAX) last issued its quarterly earnings results on Monday, July 26th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.27) by $0.15. IMAX had a negative net margin of 50.56% and a negative return on equity of 22.38%. The business had revenue of $50.96 million for the quarter, compared to analyst estimates of $43.79 million. During the same quarter in the prior year, the business posted ($0.44) EPS. IMAX’s revenue for the quarter was up 475.4% compared to the same quarter last year.

Several analysts have recently commented on IMAX shares. Barrington Research dropped their price objective on shares of IMAX from $27.00 to $22.00 and set an “outperform” rating on the stock in a report on Thursday, July 29th. JPMorgan Chase & Co. dropped their price objective on shares of IMAX from $24.00 to $20.00 and set a “neutral” rating on the stock in a report on Wednesday, July 28th. Wedbush reaffirmed a “buy” rating and issued a $26.00 price objective on shares of IMAX in a report on Wednesday, August 11th. Benchmark upped their price objective on shares of IMAX from $24.00 to $25.00 and gave the company a “buy” rating in a report on Monday, May 24th. Finally, The Goldman Sachs Group downgraded shares of IMAX from a “neutral” rating to a “sell” rating and dropped their price objective for the company from $19.60 to $18.60 in a report on Wednesday, June 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat, IMAX currently has a consensus rating of “Buy” and a consensus price target of $23.86.

IMAX stock traded up $0.28 during mid-day trading on Wednesday, reaching $16.69. 20,486 shares of the company traded hands, compared to its average volume of 852,698. The firm’s fifty day moving average is $16.07 and its two-hundred day moving average is $19.61. The company has a market capitalization of $991.32 million, a price-to-earnings ratio of -10.57 and a beta of 1.77. IMAX has a fifty-two week low of $10.50 and a fifty-two week high of $25.05.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its holdings in IMAX by 12.3% during the first quarter. BlackRock Inc. now owns 3,109,955 shares of the company’s stock worth $62,509,000 after buying an additional 341,440 shares in the last quarter. Invesco Ltd. raised its position in IMAX by 0.7% during the second quarter. Invesco Ltd. now owns 2,645,587 shares of the company’s stock worth $56,879,000 after acquiring an additional 18,794 shares during the period. Alliancebernstein L.P. raised its position in IMAX by 6.3% during the second quarter. Alliancebernstein L.P. now owns 2,452,720 shares of the company’s stock worth $52,733,000 after acquiring an additional 144,949 shares during the period. Renaissance Technologies LLC raised its position in IMAX by 8.8% during the first quarter. Renaissance Technologies LLC now owns 2,027,700 shares of the company’s stock worth $40,757,000 after acquiring an additional 163,200 shares during the period. Finally, Bank of New York Mellon Corp raised its position in IMAX by 17.4% during the second quarter. Bank of New York Mellon Corp now owns 1,111,564 shares of the company’s stock worth $23,898,000 after acquiring an additional 164,731 shares during the period. 74.08% of the stock is currently owned by hedge funds and other institutional investors.

IMAX Company Profile

IMAX Corp. is an entertainment technology company, which engages in the business of motion picture technologies and presentations. It operates through following four business segments: IMAX Technology Network; IMAX Technology Sales and Maintenance; New Business Initiatives; and Film Distribution and Post-Production.

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Earnings History and Estimates for IMAX (NYSE:IMAX)

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