IMAX (NYSE:IMAX) Posts Earnings Results, Beats Estimates By $0.11 EPS

IMAX (NYSE:IMAX) released its quarterly earnings results on Thursday. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.11, Briefing.com reports. The firm had revenue of $88.96 million during the quarter, compared to analyst estimates of $74.52 million. IMAX had a net margin of 5.97% and a return on equity of 7.77%. The business’s revenue for the quarter was down 9.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.17 EPS.

IMAX Price Performance

IMAX stock traded up $0.69 during mid-day trading on Friday, hitting $20.09. The company’s stock had a trading volume of 2,156,796 shares, compared to its average volume of 706,442. The stock has a market cap of $1.06 billion, a price-to-earnings ratio of 41.86, a price-to-earnings-growth ratio of 1.75 and a beta of 1.26. The business has a 50 day moving average price of $16.75 and a 200-day moving average price of $16.14. IMAX has a 12 month low of $13.20 and a 12 month high of $20.70.

Analysts Set New Price Targets

A number of research firms have recently commented on IMAX. Seaport Res Ptn upgraded shares of IMAX to a “strong-buy” rating in a research report on Wednesday. B. Riley boosted their price target on shares of IMAX from $27.00 to $30.00 and gave the company a “buy” rating in a research report on Monday, July 8th. Rosenblatt Securities boosted their price target on shares of IMAX from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Friday. Benchmark reaffirmed a “buy” rating and set a $22.00 price objective on shares of IMAX in a report on Thursday, June 20th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $25.00 price objective on shares of IMAX in a report on Friday. One analyst has rated the stock with a sell rating, two have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $23.56.

About IMAX

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.