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IMAX's first-quarter 2024 results reflect the negative impacts of sluggish total revenues and box office performance, compounded by declining Greater China sales.
Imax (IMAX) came out with quarterly earnings of $0.15 per share, beating the Zacks Consensus Estimate of $0.10 per share. This compares to earnings of $0.16 per share a year ago.
Imax more than hit its Q1 numbers with $79 million in revenue last quarter (down 9%) and a solid earnings bump thanks in large part to its run with Dune: Part 2, a blockbuster amid a slow quarter for big releases.
The average of price targets set by Wall Street analysts indicates a potential upside of 26.7% in Imax (IMAX). While the effectiveness of this highly sought-after metric is questionable, the positive trend in earnings estimate revisions might translate into an upside in the stock.
IMAX Co. NYSE: IMAX owns and operates a technology platform that specializes in enhancing cinematic experiences. Contrary to popular belief, IMAX doesn't operate cinemas or movie theaters.
Cinema attendees continue to favor premium viewing experiences making IMAX Corp (NYSE:IMAX) the top pick out of cinema stocks for Wedbush analysts ahead of first quarter earnings. The analysts believe ‘Outperform'-rated IMAX is the best way to play any upside to 2024 consensus estimates as consumers' ongoing shift toward premium screens is driving significant market share gains as IMAX also expands its global footprint and leans into local language content.
Imax (IMAX) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.
Imax (IMAX) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
SAP's first-quarter performance is likely to have benefited from continued momentum in cloud business. However, prevailing global macroeconomic challenges may have acted as a dampener.
Imax (IMAX) has been upgraded to a Zacks Rank #2 (Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.