Q2 2019 EPS Estimates for Imax Corp Lowered by Barrington Research (IMAX)
Imax Corp (NYSE:IMAX) – Barrington Research lowered their Q2 2019 earnings per share (EPS) estimates for shares of Imax in a research note issued on Tuesday, April 16th. Barrington Research analyst J. Goss now expects that the company will post earnings per share of $0.25 for the quarter, down from their previous forecast of $0.26. Barrington Research currently has a “Buy” rating and a $27.00 target price on the stock. Barrington Research also issued estimates for Imax’s Q3 2019 earnings at $0.12 EPS.
Imax (NYSE:IMAX) last announced its quarterly earnings data on Tuesday, February 26th. The company reported $0.18 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.17 by $0.01. The business had revenue of $109.00 million for the quarter, compared to analysts’ expectations of $101.42 million. Imax had a net margin of 6.10% and a return on equity of 6.44%. The business’s revenue was down 13.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.34 earnings per share.
Shares of IMAX opened at $25.41 on Thursday. The stock has a market capitalization of $1.53 billion, a price-to-earnings ratio of 45.38, a price-to-earnings-growth ratio of 1.59 and a beta of 1.06. Imax has a fifty-two week low of $17.55 and a fifty-two week high of $26.10.
In other news, SVP Jeffrey Vance sold 1,436 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $22.43, for a total value of $32,209.48. Following the transaction, the senior vice president now owns 3,875 shares in the company, valued at $86,916.25. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Robert D. Lister sold 44,767 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $22.36, for a total transaction of $1,000,990.12. Following the completion of the transaction, the vice president now owns 39,163 shares in the company, valued at approximately $875,684.68. The disclosure for this sale can be found here. In the last quarter, insiders sold 123,205 shares of company stock worth $2,766,929. Insiders own 18.70% of the company’s stock.
A number of institutional investors have recently modified their holdings of the stock. Macquarie Group Ltd. bought a new position in Imax in the third quarter worth approximately $113,000. Point72 Hong Kong Ltd raised its position in Imax by 185.5% in the third quarter. Point72 Hong Kong Ltd now owns 5,921 shares of the company’s stock worth $153,000 after acquiring an additional 3,847 shares during the period. Principal Financial Group Inc. raised its position in Imax by 29.8% in the fourth quarter. Principal Financial Group Inc. now owns 10,367 shares of the company’s stock worth $195,000 after acquiring an additional 2,379 shares during the period. Stone Ridge Asset Management LLC bought a new position in Imax in the fourth quarter worth approximately $218,000. Finally, AQR Capital Management LLC bought a new position in Imax in the third quarter worth approximately $278,000. Institutional investors own 79.36% of the company’s stock.
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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