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Strength Seen in Imax (IMAX): Can Its 5.3% Jump Turn into More Strength?
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Imax (IMAX - Free Report) shares rallied 5.3% in the last trading session to close at $20.85. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 13.8% gain over the past four weeks.
The upswing in share price came after IMAX announced that Illumination/Universal's The Super Mario Bros. Movie delivered the highest animated IMAX opening weekend of all time at the global box office with $21.6 million.
The film scored the biggest IMAX opening ever for an animated film in North America with $16.6 million, and the company's top animated debut in 22 international markets around the world.
This entertainment technology company is expected to post quarterly earnings of $0.14 per share in its upcoming report, which represents a year-over-year change of +200%. Revenues are expected to be $76.17 million, up 26.9% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Imax, the consensus EPS estimate for the quarter has been revised 4% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. 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 is a member of the Zacks Film and Television Production and Distribution industry. One other stock in the same industry, News Corp. (NWSA - Free Report) , finished the last trading session 0.8% higher at $17.40. NWSA has returned 7.9% over the past month.
News Corp.'s consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.07. Compared to the company's year-ago EPS, this represents a change of -56.3%. News Corp. currently boasts a Zacks Rank of #4 (Sell).
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Strength Seen in Imax (IMAX): Can Its 5.3% Jump Turn into More Strength?
Imax (IMAX - Free Report) shares rallied 5.3% in the last trading session to close at $20.85. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 13.8% gain over the past four weeks.
The upswing in share price came after IMAX announced that Illumination/Universal's The Super Mario Bros. Movie delivered the highest animated IMAX opening weekend of all time at the global box office with $21.6 million.
The film scored the biggest IMAX opening ever for an animated film in North America with $16.6 million, and the company's top animated debut in 22 international markets around the world.
This entertainment technology company is expected to post quarterly earnings of $0.14 per share in its upcoming report, which represents a year-over-year change of +200%. Revenues are expected to be $76.17 million, up 26.9% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Imax, the consensus EPS estimate for the quarter has been revised 4% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. 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 is a member of the Zacks Film and Television Production and Distribution industry. One other stock in the same industry, News Corp. (NWSA - Free Report) , finished the last trading session 0.8% higher at $17.40. NWSA has returned 7.9% over the past month.
News Corp.'s consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.07. Compared to the company's year-ago EPS, this represents a change of -56.3%. News Corp. currently boasts a Zacks Rank of #4 (Sell).