Imax Corp. (IMAX) Set to Announce Quarterly Earnings on Thursday
Imax Corp. (NYSE:IMAX) is scheduled to be announcing its Q316 earnings results on Thursday, October 20th. Analysts expect the company to announce earnings of $0.12 per share and revenue of $77.09 million for the quarter. Parties interested in listening to the company’s conference call can do so using this link.
Imax Corp. (NYSE:IMAX) last posted its quarterly earnings results on Wednesday, July 20th. The company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.17 by $0.01. Imax Corp. had a return on equity of 7.66% and a net margin of 12.47%. The business had revenue of $91.70 million for the quarter, compared to analyst estimates of $91.30 million. During the same quarter in the previous year, the firm earned $0.40 EPS. The company’s quarterly revenue was down 14.5% compared to the same quarter last year. On average, analysts expect Imax Corp. to post $0.89 EPS for the current fiscal year and $1.29 EPS for the next fiscal year.
Imax Corp. (NYSE:IMAX) opened at 29.72 on Tuesday. The stock’s 50 day moving average price is $29.46 and its 200 day moving average price is $30.77. Imax Corp. has a 12-month low of $25.52 and a 12-month high of $40.36. The stock has a market cap of $1.99 billion, a price-to-earnings ratio of 42.89 and a beta of 1.55.
In other Imax Corp. news, CEO Richard L. Gelfond sold 7,741 shares of the firm’s stock in a transaction dated Friday, September 2nd. The stock was sold at an average price of $30.83, for a total value of $238,655.03. Following the sale, the chief executive officer now directly owns 102,470 shares of the company’s stock, valued at approximately $3,159,150.10. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 5.80% of the stock is owned by company insiders.
A number of hedge funds have recently modified their holdings of IMAX. Alliancebernstein L.P. raised its stake in shares of Imax Corp. by 65.2% in the second quarter. Alliancebernstein L.P. now owns 2,551,591 shares of the company’s stock worth $75,221,000 after buying an additional 1,007,308 shares during the last quarter. State Street Corp raised its stake in shares of Imax Corp. by 1.5% in the second quarter. State Street Corp now owns 1,020,454 shares of the company’s stock worth $30,084,000 after buying an additional 15,457 shares during the last quarter. Lord Abbett & CO. LLC raised its stake in shares of Imax Corp. by 19.3% in the second quarter. Lord Abbett & CO. LLC now owns 993,539 shares of the company’s stock worth $29,290,000 after buying an additional 160,907 shares during the last quarter. Teachers Advisors Inc. raised its stake in shares of Imax Corp. by 4.1% in the second quarter. Teachers Advisors Inc. now owns 781,025 shares of the company’s stock worth $23,025,000 after buying an additional 30,431 shares during the last quarter. Finally, Primecap Management Co. CA raised its stake in shares of Imax Corp. by 24.2% in the second quarter. Primecap Management Co. CA now owns 413,300 shares of the company’s stock worth $12,184,000 after buying an additional 80,532 shares during the last quarter. 79.80% of the stock is currently owned by hedge funds and other institutional investors.
IMAX has been the subject of several research analyst reports. Roth Capital initiated coverage on Imax Corp. in a research report on Wednesday, July 20th. They issued a “buy” rating and a $38.00 price objective for the company. Canaccord Genuity reiterated a “buy” rating on shares of Imax Corp. in a research report on Tuesday, July 19th. Credit Suisse Group AG reiterated a “buy” rating on shares of Imax Corp. in a research report on Wednesday, June 22nd. Stifel Nicolaus reiterated a “buy” rating and issued a $45.00 price objective on shares of Imax Corp. in a research report on Thursday, June 23rd. Finally, Benchmark Co. reiterated a “buy” rating on shares of Imax Corp. in a research report on Wednesday, June 22nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $40.56.
About Imax Corp.
IMAX Corporation is an entertainment technology company. The Company operates through seven segments: the IMAX systems, the theater system maintenance, the joint revenue sharing arrangements, film production and IMAX DMR, film distribution, film post-production and other. The IMAX systems segment designs, manufactures, sells or leases IMAX theater projection system equipment.
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