IMAX (NYSE:IMAX) Posts Quarterly Earnings Results

IMAX (NYSE:IMAX) issued its earnings results on Wednesday. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.14), Zacks reports. The firm had revenue of $92.67 million during the quarter, compared to analysts’ expectations of $104.08 million. IMAX had a return on equity of 7.53% and a net margin of 6.74%.

IMAX Trading Down 2.4 %

IMAX traded down $0.65 during trading on Thursday, hitting $26.58. The company’s stock had a trading volume of 106,918 shares, compared to its average volume of 672,959. IMAX has a twelve month low of $14.94 and a twelve month high of $27.38. The business’s fifty day simple moving average is $24.63 and its 200 day simple moving average is $22.93. The firm has a market capitalization of $1.40 billion, a price-to-earnings ratio of 60.50, a P/E/G ratio of 1.49 and a beta of 1.22.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on IMAX shares. Roth Mkm upped their price objective on IMAX from $27.00 to $28.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Wedbush reissued an “outperform” rating and issued a $32.00 price objective on shares of IMAX in a report on Wednesday, February 12th. Benchmark reissued a “buy” rating and issued a $30.00 price objective on shares of IMAX in a report on Thursday. Rosenblatt Securities increased their price objective on IMAX from $28.00 to $35.00 and gave the company a “buy” rating in a report on Thursday. Finally, StockNews.com lowered IMAX from a “buy” rating to a “hold” rating in a report on Thursday, February 13th. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $30.00.

Insider Transactions at IMAX

In related news, EVP Robert D. Lister sold 55,910 shares of IMAX stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $25.50, for a total transaction of $1,425,705.00. Following the transaction, the executive vice president now owns 138,889 shares in the company, valued at approximately $3,541,669.50. This trade represents a 28.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Kenneth Ian Weissman sold 6,309 shares of IMAX stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $25.51, for a total value of $160,942.59. Following the transaction, the insider now owns 25,139 shares in the company, valued at approximately $641,295.89. The trade was a 20.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 65,176 shares of company stock valued at $1,662,110 over the last ninety days. Insiders own 24.08% of the company’s stock.

IMAX Company Profile

IMAX Corporation, together with its subsidiaries, operates as a technology platform for entertainment and events worldwide. The company operates in two segments, Content Solutions and Technology Products and Services. The company offers IMAX DMR, a proprietary technology that digitally remasters films and other content into IMAX formats for distribution to the IMAX network; IMAX Enhanced that provides end-to-end technology across streaming content and entertainment devices at home; and SSIMWAVE, an AI-driven video quality solutions for media and entertainment companies.