Zacks: Brokerages Anticipes IMAX Co. (NYSE: IMAX) to Report Earnings of $ -0.11 per Share

0


Stock analysts expect IMAX Co. (NYSE: IMAX) to report earnings per share (EPS) of ($ 0.11) for the current quarter, according to Zacks Investment Research. Four analysts made estimates for IMAX’s earnings, with the lowest EPS estimate at ($ 0.17) and the highest estimate at $ 0.01. IMAX reported earnings per share of ($ 0.75) in the same quarter last year, which would suggest a positive year-over-year growth rate of 85.3%. The company is expected to release its next quarterly earnings report on Thursday, November 4.

According to Zacks, analysts expect IMAX to report annual earnings of ($ 0.40) per share for the current fiscal year, with EPS estimates ranging from $ 0.52 to $ 0.11. For next year, analysts expect the company to post earnings of $ 0.68 per share, with EPS estimates ranging from $ 0.40 to $ 0.88. Zacks Investment Research’s earnings per share calculations are an average based on a survey of seller-side research companies that provide coverage for IMAX.

IMAX (NYSE: IMAX) last released its results on Monday, July 26. The company reported ($ 0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($ 0.27) by $ 0.15. IMAX had a negative return on equity of 22.38% and a negative net margin of 50.56%. The company posted revenue of $ 50.96 million for the quarter, compared to analysts’ estimates of $ 43.79 million. In the same quarter of the previous year, the company achieved earnings per share ($ 0.44). The company’s quarterly revenue increased 475.4% from the same quarter last year.

(A d)

The explosive rise in tech stocks we saw in 2020 is just the start …

“The Earnings Whisperer” Louis Navellier posted a video detailing several key steps he believes every American should take right now.

Several stock analysts have published reports on the company. Colliers Securities reiterated a “buy” note and issued a target price of $ 22.00 on IMAX shares in a research note on Monday, July 26. Barrington Research lowered its price target on IMAX from $ 27.00 to $ 22.00 and set an “outperform” rating for the company in a report released Thursday, July 29. JPMorgan Chase & Co. lowered its price target on IMAX from $ 24.00 to $ 20.00 and set a “neutral” rating for the company in a report released on Wednesday, July 28. Goldman Sachs Group downgraded IMAX from a “neutral” to a “sell” rating and lowered its price target for the share from $ 19.60 to $ 18.60 in a report released on Wednesday, June 2 . Finally, TheStreet downgraded IMAX from a “c-” rating to a “d +” rating in a report released on Thursday, July 29. One analyst assigned a sell rating to the stock, two assigned a conservation rating, and seven assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $ 23.86.

Several institutional investors have recently increased or reduced their holdings in the stock. BlackRock Inc. increased its holdings in IMAX by 12.3% in the first quarter. BlackRock Inc. now owns 3,109,955 shares of the company valued at $ 62,509,000 after acquiring 341,440 additional shares during the period. Invesco Ltd. increased its holdings in IMAX by 0.7% in the second quarter. Invesco Ltd. now owns 2,645,587 shares of the company valued at $ 56,879,000 after acquiring an additional 18,794 shares during the period. Alliancebernstein LP increased its stake in IMAX by 6.3% in the second quarter. Alliancebernstein LP now owns 2,452,720 shares of the company valued at $ 52,733,000 after acquiring an additional 144,949 shares during the period. Renaissance Technologies LLC increased its stake in IMAX by 8.8% in the first quarter. Renaissance Technologies LLC now owns 2,027,700 shares of the company valued at $ 40,757,000 after acquiring an additional 163,200 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in IMAX by 17.4% in the second quarter. Bank of New York Mellon Corp now owns 1,111,564 shares of the company valued at $ 23,898,000 after acquiring an additional 164,731 shares during the period. 74.08% of the shares are held by hedge funds and other institutional investors.

IMAX traded at $ 0.62 on Monday, hitting $ 18.50. The company had a trading volume of 882,503 shares, compared to its average volume of 846,211. The stock has a fifty-day moving average price of $ 15.85 and a 200-day moving average price of 19.27. $. IMAX has a 12-month low of $ 10.50 and a 12-month high of $ 25.05. The stock has a market cap of $ 1.10 billion, a price-to-earnings ratio of -11.78 and a beta of 1.77.

About IMAX

IMAX Corp. is an entertainment technology company, engaged in film technology and presentations. It operates through the following four business segments: IMAX Technology Network; Sale and maintenance of IMAX technology; New business initiatives; and film distribution and post-production.

Read more: Moving Average – How it helps investors with stock selection

Get a Free Copy of Zacks’ Research Report on IMAX (IMAX)

For more information on Zacks Investment Research’s research offerings, visit Zacks.com

History and earnings estimates for IMAX (NYSE: IMAX)

This instant news alert was powered by narrative science technology and MarketBeat financial data to provide readers with the fastest, most accurate reports. This story was reviewed by the MarketBeat editorial team prior to publication. Please send any questions or comments about this story to [email protected]

Should you invest $ 1,000 in IMAX right now?

Before you consider IMAX, you’ll want to hear this.

MarketBeat tracks Wall Street’s top-rated and top-performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts quietly whisper to their clients to buy now before the broader market takes hold … and IMAX was not on the list.

Although IMAX currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better bets.

See the 5 actions here


Leave A Reply

Your email address will not be published.