IMAX Corporation (USA) (IMAX) reported quarterly earnings results on Thursday, Apr-21-2016. The company said it had a profit of $0.22 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.06. Analysts had a consensus of $0.16. The company posted revenue of $92.10 million in the period, compared to analysts expectations of $83.91 million. The company’s revenue was up 48.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.07 EPS.
Many Wall Street Analysts have commented on IMAX Corporation (USA). Wedbush Upgraded IMAX Corporation (USA) on Feb 22, 2016 to ” Outperform”, Price Target of the shares are set at $38.Shares were Reiterated by MKM Partners on Feb 22, 2016 to “Buy” and Lowered the Price Target to $ 39 from a previous price target of $44 .
IMAX Corporation (USA) opened for trading at $31.75 and hit $32.9299 on the upside on Monday, eventually ending the session at $32.68, with a gain of 3.25% or 1.03 points. The heightened volatility saw the trading volume jump to 11,85,245 shares. Company has a market cap of $2,277 M.
In a different news, on Apr 5, 2016, Robert D Lister (Chief Legal & Chief Bus Dev) sold 14,035 shares at $30.75 per share price. According to the SEC, on Mar 9, 2016, Greg Foster (SEVP IMAX & CEO IMAX Entertain) sold 8,909 shares at $31.29 per share price. On Mar 9, 2016, Jeffrey Vance (Sr VP, Finance & Controller) sold 1,208 shares at $31.29 per share price, according to the Form-4 filing with the securities and exchange commission.
IMAX Corporation is an entertainment technology company. The Company along with its wholly owned subsidiaries is specialized motion picture technologies and presentations. The Company operates through seven segments: the IMAX systems the theater system maintenance the joint revenue sharing arrangements film production and IMAX DMR film distribution film post-production and other. The Company’s businesses include the design and manufacture of theater systems (IMAX theater systems) and the sale lease or contribution of those systems to customers and the digital re-mastering of films into the IMAX format and the exhibition of those films in the IMAX theater network. Its trademarks include IMAX IMAX Dome IMAX 3D IMAX 3D Dome Experience It In IMAX The IMAX Experience and An IMAX Experience among others. The Company owns approximately 934 theater systems (828 commercial and 106 institutional) operating in 62 countries.