IMAX Corporation (NYSE:IMAX) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of IMAX Corporation (NYSE:IMAX) have received an average recommendation of “Moderate Buy” from the twelve brokerages that are covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $47.90.

IMAX has been the topic of a number of analyst reports. Benchmark reaffirmed a “buy” rating on shares of IMAX in a report on Monday, June 22nd. Weiss Ratings downgraded IMAX from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, June 23rd. Rosenblatt Securities reissued a “buy” rating and issued a $47.00 price target on shares of IMAX in a report on Monday, April 20th. Wedbush restated an “outperform” rating and issued a $46.00 price target on shares of IMAX in a research note on Thursday, April 23rd. Finally, Barrington Research upped their price objective on IMAX from $42.00 to $46.00 and gave the stock an “outperform” rating in a report on Friday, May 1st.

Insider Activity at IMAX

In other news, CEO Richard L. Gelfond sold 8,943 shares of the company’s stock in a transaction on Monday, April 27th. The shares were sold at an average price of $37.33, for a total transaction of $333,842.19. Following the transaction, the chief executive officer directly owned 765,002 shares of the company’s stock, valued at $28,557,524.66. This represents a 1.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 107,532 shares of company stock worth $3,987,360. 20.55% of the stock is currently owned by insiders.

Institutional Trading of IMAX

Institutional investors have recently added to or reduced their stakes in the stock. Militia Capital Management LLC acquired a new position in IMAX during the first quarter worth about $1,634,000. Janus Henderson Group PLC lifted its position in shares of IMAX by 10.0% during the 1st quarter. Janus Henderson Group PLC now owns 261,059 shares of the company’s stock valued at $9,924,000 after acquiring an additional 23,665 shares during the period. Amundi lifted its position in shares of IMAX by 61.0% during the 1st quarter. Amundi now owns 9,286 shares of the company’s stock valued at $353,000 after acquiring an additional 3,519 shares during the period. California State Teachers Retirement System boosted its stake in shares of IMAX by 31.2% during the 1st quarter. California State Teachers Retirement System now owns 54,174 shares of the company’s stock worth $2,059,000 after acquiring an additional 12,898 shares in the last quarter. Finally, Royal Bank of Canada boosted its stake in shares of IMAX by 126.5% during the 1st quarter. Royal Bank of Canada now owns 75,777 shares of the company’s stock worth $2,880,000 after acquiring an additional 362,021 shares in the last quarter. Hedge funds and other institutional investors own 93.51% of the company’s stock.

IMAX Stock Performance

IMAX stock opened at $38.28 on Monday. The stock has a market capitalization of $2.11 billion, a PE ratio of 58.89, a price-to-earnings-growth ratio of 1.36 and a beta of 0.37. The company has a fifty day moving average of $39.04 and a 200-day moving average of $37.86. IMAX has a one year low of $24.20 and a one year high of $45.52.

IMAX (NYSE:IMAX) last issued its quarterly earnings results on Thursday, April 30th. The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.02. The business had revenue of $81.38 million for the quarter, compared to analyst estimates of $79.82 million. IMAX had a net margin of 9.08% and a return on equity of 13.61%. The business’s revenue was down 6.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.13 earnings per share. Equities analysts forecast that IMAX will post 1.34 earnings per share for the current fiscal year.

IMAX Company Profile

IMAX Corporation is a global leader in immersive entertainment technologies, specializing in the design, manufacture and distribution of high-resolution cameras, projectors, and proprietary software solutions that enhance both film production and theatrical exhibition. The company licenses its premium large-format system to theatre owners and filmmakers around the world, enabling audiences to experience movies with greater clarity, scale and sound fidelity. IMAX also offers turnkey theatre development services, assisting cinema operators with auditorium design, installation and custom branding to optimize the customer experience.

Founded in 1967 and headquartered in Mississauga, Ontario, IMAX has built a reputation for pioneering film-format innovations, including its patented dual 15-perforation, 70-millimeter projection system.