Imax Corp (NYSE:IMAX) – Research analysts at Wedbush cut their Q2 2019 earnings estimates for shares of Imax in a note issued to investors on Monday, April 29th. Wedbush analyst M. Pachter now expects that the company will post earnings per share of $0.23 for the quarter, down from their prior estimate of $0.25. Wedbush currently has a “Buy” rating and a $28.00 price target on the stock. Wedbush also issued estimates for Imax’s FY2020 earnings at $0.89 EPS.
Imax (NYSE:IMAX) last posted its earnings results on Friday, April 26th. The company reported $0.12 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.01. Imax had a net margin of 6.12% and a return on equity of 6.31%. The firm had revenue of $80.20 million during the quarter, compared to the consensus estimate of $81.29 million. During the same period last year, the firm posted $0.21 EPS. The firm’s revenue for the quarter was down 5.6% on a year-over-year basis.
Shares of NYSE IMAX opened at $24.84 on Thursday. The stock has a market cap of $1.49 billion, a PE ratio of 44.36, a PEG ratio of 1.62 and a beta of 1.08. Imax has a 12 month low of $17.55 and a 12 month high of $26.10.
In related news, SVP Jeffrey Vance sold 1,436 shares of the firm’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 sale, the senior vice president now directly owns 3,875 shares of the company’s stock, valued at $86,916.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Richard L. Gelfond sold 8,648 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $24.48, for a total transaction of $211,703.04. Following the completion of the sale, the chief executive officer now directly owns 245,279 shares in the company, valued at $6,004,429.92. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 146,853 shares of company stock valued at $3,351,082. Insiders own 18.70% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Shapiro Capital Management LLC boosted its position in shares of Imax by 6.9% in the fourth quarter. Shapiro Capital Management LLC now owns 5,150,005 shares of the company’s stock worth $96,872,000 after acquiring an additional 330,598 shares during the last quarter. Macquarie Group Ltd. acquired a new stake in shares of Imax in the third quarter worth approximately $113,000. Gamco Investors INC. ET AL boosted its position in shares of Imax by 3.1% in the fourth quarter. Gamco Investors INC. ET AL now owns 65,500 shares of the company’s stock worth $1,232,000 after acquiring an additional 2,000 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Imax by 7.1% in the third quarter. Vanguard Group Inc. now owns 331,863 shares of the company’s stock worth $8,562,000 after acquiring an additional 22,010 shares during the last quarter. Finally, Nordea Investment Management AB boosted its position in shares of Imax by 34.9% in the third quarter. Nordea Investment Management AB now owns 204,367 shares of the company’s stock worth $5,273,000 after acquiring an additional 52,897 shares during the last quarter. 79.62% of the stock is currently owned by institutional investors and hedge funds.
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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