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Strength Seen in Imax (IMAX): Can Its 6.4% Jump Turn into More Strength?
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Imax (IMAX - Free Report) shares ended the last trading session 6.4% higher at $16.33. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 4.5% loss over the past four weeks.
Increased optimisn over continued reopening of theatres, particularly in the United States, a solid slate of movie releases in the rest of 2022, recovery in the pace of theater system installations and higher IMAX maintenance sales drove the stock higher.
This entertainment technology company is expected to post quarterly earnings of $0.18 per share in its upcoming report, which represents a year-over-year change of +250%. Revenues are expected to be $81.2 million, up 59.3% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Imax, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on IMAX going forward to see if this recent jump can turn into more strength down the road.
Imax belongs to the Zacks Film and Television Production and Distribution industry. Another stock from the same industry, CuriosityStream Inc. (CURI - Free Report) , closed the last trading session 1.9% lower at $2.05. Over the past month, CURI has returned 32.3%.
For CuriosityStream Inc., the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.27. This represents a change of -22.7% from what the company reported a year ago. CuriosityStream Inc. currently has a Zacks Rank of #3 (Hold).
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Strength Seen in Imax (IMAX): Can Its 6.4% Jump Turn into More Strength?
Imax (IMAX - Free Report) shares ended the last trading session 6.4% higher at $16.33. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 4.5% loss over the past four weeks.
Increased optimisn over continued reopening of theatres, particularly in the United States, a solid slate of movie releases in the rest of 2022, recovery in the pace of theater system installations and higher IMAX maintenance sales drove the stock higher.
This entertainment technology company is expected to post quarterly earnings of $0.18 per share in its upcoming report, which represents a year-over-year change of +250%. Revenues are expected to be $81.2 million, up 59.3% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Imax, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on IMAX going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Imax belongs to the Zacks Film and Television Production and Distribution industry. Another stock from the same industry, CuriosityStream Inc. (CURI - Free Report) , closed the last trading session 1.9% lower at $2.05. Over the past month, CURI has returned 32.3%.
For CuriosityStream Inc., the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.27. This represents a change of -22.7% from what the company reported a year ago. CuriosityStream Inc. currently has a Zacks Rank of #3 (Hold).