Brokerages Expect Imax Corp (IMAX) Will Announce Quarterly Sales of $121.44 Million

Wall Street analysts expect Imax Corp (NYSE:IMAX) to announce sales of $121.44 million for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for Imax’s earnings. The lowest sales estimate is $115.70 million and the highest is $126.39 million. Imax posted sales of $106.91 million in the same quarter last year, which suggests a positive year-over-year growth rate of 13.6%. The business is scheduled to report its next earnings report on Thursday, February 22nd.

According to Zacks, analysts expect that Imax will report full year sales of $121.44 million for the current financial year, with estimates ranging from $370.90 million to $385.30 million. For the next year, analysts forecast that the company will report sales of $399.74 million per share, with estimates ranging from $395.40 million to $402.56 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Imax.

Imax (NYSE:IMAX) last posted its quarterly earnings results on Thursday, October 26th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.07. The firm had revenue of $98.80 million for the quarter, compared to analysts’ expectations of $86.17 million. Imax had a net margin of 1.78% and a return on equity of 2.62%. The firm’s quarterly revenue was up 14.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.12 earnings per share.

Several analysts have weighed in on the stock. Piper Jaffray Companies lowered shares of Imax from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $28.00 to $21.00 in a research note on Wednesday, January 10th. Zacks Investment Research lowered shares of Imax from a “hold” rating to a “sell” rating in a research note on Tuesday, January 9th. B. Riley reiterated a “buy” rating and set a $35.00 target price on shares of Imax in a research note on Monday, January 8th. Wedbush set a $30.00 target price on shares of Imax and gave the company a “buy” rating in a research note on Monday, January 8th. Finally, ValuEngine lowered shares of Imax from a “hold” rating to a “sell” rating in a research note on Sunday, December 31st. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the stock. Imax has an average rating of “Hold” and a consensus target price of $29.30.

Shares of Imax (NYSE IMAX) opened at $20.25 on Friday. Imax has a 12 month low of $17.58 and a 12 month high of $34.60. The firm has a market cap of $1,320.00, a price-to-earnings ratio of 202.50, a price-to-earnings-growth ratio of 1.20 and a beta of 1.13.

In other news, insider Mark Welton sold 8,985 shares of the company’s stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $25.81, for a total transaction of $231,902.85. Following the completion of the transaction, the insider now owns 16,331 shares in the company, valued at $421,503.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Greg Foster sold 3,566 shares of the company’s stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $23.97, for a total transaction of $85,477.02. Following the transaction, the chief executive officer now owns 74,696 shares of the company’s stock, valued at approximately $1,790,463.12. The disclosure for this sale can be found here. Insiders have sold 17,050 shares of company stock valued at $425,276 in the last 90 days. Insiders own 18.90% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. Fox Run Management L.L.C. bought a new position in shares of Imax during the fourth quarter worth about $521,000. Acadian Asset Management LLC bought a new position in Imax in the 4th quarter valued at about $775,000. Crow Point Partners LLC bought a new position in Imax in the 4th quarter valued at about $103,000. Aurora Investment Counsel bought a new position in Imax in the 4th quarter valued at about $1,926,000. Finally, Cubist Systematic Strategies LLC grew its position in Imax by 98.4% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 56,251 shares of the company’s stock valued at $1,274,000 after buying an additional 27,893 shares in the last quarter. Institutional investors and hedge funds own 84.04% of the company’s stock.

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Imax Company Profile

IMAX Corporation is an entertainment technology company. The Company operates through seven segments: IMAX systems; theater system maintenance; joint revenue sharing arrangements; film production and IMAX DMR; film distribution; film post-production, and other. The IMAX systems segment designs, manufactures, sells or leases IMAX theater projection system equipment.

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