IMAX Co. (NYSE:IMAX) Given Consensus Recommendation of “Moderate Buy” by Analysts

IMAX Co. (NYSE:IMAX) has received an average recommendation of “Moderate Buy” from the ten analysts that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, one has given a hold rating, seven have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $25.11.

Several brokerages have recently issued reports on IMAX. Benchmark upped their target price on shares of IMAX from $27.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, December 13th. StockNews.com raised IMAX from a “hold” rating to a “buy” rating in a research note on Thursday, January 2nd. Rosenblatt Securities reissued a “buy” rating and set a $28.00 target price on shares of IMAX in a research report on Thursday, October 31st. Roth Mkm raised their price target on IMAX from $27.00 to $28.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, Barrington Research reaffirmed an “outperform” rating and set a $24.00 price objective on shares of IMAX in a research note on Thursday, October 31st.

Insider Transactions at IMAX

In related news, CFO Natasha Fernandes sold 2,957 shares of IMAX stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $25.52, for a total value of $75,462.64. Following the completion of the sale, the chief financial officer now directly owns 14,883 shares in the company, valued at $379,814.16. The trade was a 16.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Robert D. Lister sold 55,910 shares of the stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $25.50, for a total transaction of $1,425,705.00. Following the transaction, the executive vice president now owns 138,889 shares in the company, valued at approximately $3,541,669.50. The trade was a 28.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 65,176 shares of company stock worth $1,662,110. 24.08% of the stock is currently owned by insiders.

Institutional Investors Weigh In On IMAX

Several hedge funds have recently modified their holdings of the business. Huntington National Bank bought a new position in IMAX in the third quarter worth approximately $34,000. Headlands Technologies LLC purchased a new position in shares of IMAX in the 2nd quarter valued at $35,000. Quarry LP lifted its stake in shares of IMAX by 78,333.3% during the 3rd quarter. Quarry LP now owns 2,353 shares of the company’s stock worth $48,000 after purchasing an additional 2,350 shares during the last quarter. nVerses Capital LLC purchased a new stake in shares of IMAX during the 3rd quarter worth $70,000. Finally, US Bancorp DE boosted its position in IMAX by 23.4% during the third quarter. US Bancorp DE now owns 7,656 shares of the company’s stock valued at $157,000 after purchasing an additional 1,452 shares in the last quarter. Hedge funds and other institutional investors own 93.51% of the company’s stock.

IMAX Trading Down 1.5 %

Shares of IMAX stock opened at $23.60 on Thursday. The stock has a market capitalization of $1.24 billion, a price-to-earnings ratio of 53.64, a price-to-earnings-growth ratio of 1.69 and a beta of 1.24. IMAX has a 12-month low of $13.20 and a 12-month high of $26.84. The stock’s 50-day moving average price is $25.07 and its 200-day moving average price is $21.58.

IMAX (NYSE:IMAX) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.12. The business had revenue of $91.50 million for the quarter, compared to the consensus estimate of $93.71 million. IMAX had a return on equity of 7.53% and a net margin of 6.74%. The company’s revenue was down 11.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.27 EPS. As a group, research analysts predict that IMAX will post 0.77 EPS for the current fiscal year.

IMAX Company Profile

IMAX Corporation, together with its subsidiaries, operates as a technology platform for entertainment and events worldwide. The company operates in two segments, Content Solutions and Technology Products and Services. The company offers IMAX DMR, a proprietary technology that digitally remasters films and other content into IMAX formats for distribution to the IMAX network; IMAX Enhanced that provides end-to-end technology across streaming content and entertainment devices at home; and SSIMWAVE, an AI-driven video quality solutions for media and entertainment companies.