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

IMAX (NYSE:IMAX) posted its earnings results on Wednesday. The company reported $0.58 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $120.30 million.

IMAX Stock Down 0.8%

Shares of NYSE:IMAX traded down $0.29 during midday 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 P/E/G ratio of 1.82 and a beta of 0.38. IMAX has a fifty-two week low of $20.48 and a fifty-two week high of $39.98. The stock has a fifty day simple moving average of $36.25 and a two-hundred day simple moving average of $33.79.

Wall Street Analyst Weigh In

IMAX has been the subject of several recent research reports. Rosenblatt Securities reaffirmed a “buy” rating and set a $47.00 target price on shares of IMAX in a report on Tuesday. Wedbush reiterated an “outperform” rating and set a $46.00 price objective on shares of IMAX in a research note on Monday. B. Riley Financial reissued a “buy” rating on shares of IMAX in a research note on Monday, December 8th. Wells Fargo & Company boosted their target price on IMAX from $40.00 to $47.00 and gave the stock an “overweight” rating in a research report on Thursday, December 18th. Finally, Benchmark reissued a “buy” rating on shares of IMAX in a research note on Monday, January 5th. Ten equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, IMAX has a consensus rating of “Moderate Buy” and a consensus target price of $42.70.

Institutional Trading of IMAX

A number of institutional investors have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd lifted its holdings in shares of IMAX by 28.7% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,489 shares of the company’s stock worth $55,000 after acquiring an additional 332 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in IMAX by 0.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 108,781 shares of the company’s stock valued at $4,021,000 after purchasing an additional 546 shares during the last quarter. Quarry LP lifted its position in shares of IMAX by 166.8% during the fourth quarter. Quarry LP now owns 875 shares of the company’s stock valued at $32,000 after purchasing an additional 547 shares in the last quarter. Public Employees Retirement System of Ohio grew its position in shares of IMAX by 1.0% during the 4th quarter. Public Employees Retirement System of Ohio now owns 61,438 shares of the company’s stock valued at $2,271,000 after acquiring an additional 594 shares during the period. Finally, LPL Financial LLC lifted its holdings in IMAX by 3.0% during the fourth quarter. LPL Financial LLC now owns 21,860 shares of the company’s stock valued at $808,000 after purchasing an additional 639 shares during the last quarter. Institutional investors own 93.51% of the company’s stock.

About IMAX

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.