IMAX Corporation (USA) (IMAX) reported quarterly earnings results on Wednesday, Jul-20-2016. The company said it had a profit of $0.18 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.01. Analysts had a consensus of $0.17. The company posted revenue of $91.70 million in the period, compared to analysts expectations of $86.59 million. The company’s revenue was down -14.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.40 EPS.
Many Wall Street Analysts have commented on IMAX Corporation (USA). Company shares were Reiterated by MKM Partners on Apr 22, 2016 to “Buy”, Firm has raised the Price Target to $ 40 from a previous price target of $39 .
IMAX Corporation (USA) closed down -0.18 points or -0.59% at $30.36 with 6,56,036 shares getting traded on Monday. Post opening the session at $30.36, the shares hit an intraday low of $29.93 and an intraday high of $30.63 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
In a different news, on Jun 6, 2016, Andrew Cripps (Executive Vice President) sold 31,175 shares at $33.50 per share price. According to the SEC, on May 4, 2016, Richard L Gelfond (Chief Executive Officer) sold 7,741 shares at $32.14 per share price. 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 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.