Analysts forecast that Imax Corp (NYSE:IMAX) will post sales of $88.51 million for the current quarter, Zacks reports. Four analysts have provided estimates for Imax’s earnings, with the highest sales estimate coming in at $94.93 million and the lowest estimate coming in at $83.41 million. Imax reported sales of $82.11 million in the same quarter last year, which would suggest a positive year over year growth rate of 7.8%. The firm is expected to report its next quarterly earnings report on Thursday, October 24th.

According to Zacks, analysts expect that Imax will report full year sales of $400.05 million for the current year, with estimates ranging from $396.60 million to $405.62 million. For the next financial year, analysts forecast that the firm will post sales of $414.83 million, with estimates ranging from $411.04 million to $419.50 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Imax.

Imax (NYSE:IMAX) last released its quarterly earnings data on Tuesday, July 30th. The company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.10. The company had revenue of $104.80 million during the quarter, compared to analyst estimates of $98.27 million. Imax had a net margin of 7.01% and a return on equity of 6.32%. Imax’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.30 EPS.

Several research analysts recently weighed in on the stock. Wedbush restated an “outperform” rating and issued a $28.00 price objective on shares of Imax in a research report on Wednesday, July 31st. TheStreet lowered Imax from a “b-” rating to a “c” rating in a research note on Thursday, May 23rd. ValuEngine lowered Imax from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Zacks Investment Research lowered Imax from a “buy” rating to a “hold” rating and set a $23.00 price target for the company. in a research note on Tuesday, July 2nd. Finally, B. Riley set a $34.00 price objective on shares of Imax and gave the stock a “buy” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $27.17.

In other Imax news, CEO Richard L. Gelfond sold 8,384 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $20.74, for a total transaction of $173,884.16. Following the completion of the sale, the chief executive officer now directly owns 258,392 shares in the company, valued at approximately $5,359,050.08. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Patrick Mcclymont sold 1,915 shares of the business’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $21.35, for a total transaction of $40,885.25. Following the sale, the chief financial officer now owns 16,481 shares of the company’s stock, valued at $351,869.35. The disclosure for this sale can be found here. 20.20% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Strs Ohio bought a new stake in shares of Imax during the 2nd quarter valued at $595,000. Trillium Asset Management LLC boosted its holdings in shares of Imax by 13.2% during the 2nd quarter. Trillium Asset Management LLC now owns 83,495 shares of the company’s stock valued at $1,687,000 after purchasing an additional 9,704 shares during the last quarter. William Blair Investment Management LLC boosted its holdings in shares of Imax by 227.3% during the 2nd quarter. William Blair Investment Management LLC now owns 430,329 shares of the company’s stock valued at $8,693,000 after purchasing an additional 298,834 shares during the last quarter. Mission Wealth Management LP bought a new position in shares of Imax during the 1st quarter valued at about $237,000. Finally, Pembroke Management LTD boosted its holdings in shares of Imax by 17.3% during the 2nd quarter. Pembroke Management LTD now owns 941,900 shares of the company’s stock valued at $19,026,000 after purchasing an additional 138,900 shares during the last quarter. Institutional investors and hedge funds own 77.55% of the company’s stock.

Imax stock traded down $0.74 during midday trading on Monday, reaching $22.10. The stock had a trading volume of 284,180 shares, compared to its average volume of 381,748. The firm’s 50-day moving average price is $21.29 and its 200 day moving average price is $22.03. Imax has a 12 month low of $17.55 and a 12 month high of $26.10. The firm has a market capitalization of $1.36 billion, a PE ratio of 39.46, a P/E/G ratio of 1.50 and a beta of 0.97.

About Imax

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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