Zacks: Brokerages Anticipes IMAX Co. (NYSE: IMAX) to Report Earnings of $ -0.11 per Share
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.
Several stock analysts have published reports on the company. Colliers Securities reiterated a âbuyâ 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 âc-â rating to a âd +â 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 âBuyâ 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.
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.
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