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

IMAX Co. (NYSE:IMAX) has earned an average rating of “Moderate Buy” from the ten analysts that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $25.11.

Several equities analysts have recently issued reports on IMAX shares. Benchmark boosted their price target on shares of IMAX from $27.00 to $30.00 and gave the company a “buy” rating in a report on Friday. Wedbush restated an “outperform” rating on shares of IMAX in a report on Wednesday, November 27th. Roth Mkm increased their target price on IMAX from $27.00 to $28.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. StockNews.com downgraded shares of IMAX from a “buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $24.00 price objective on shares of IMAX in a research report on Thursday, October 31st.

Insider Activity

In other news, insider Kenneth Ian Weissman sold 6,309 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $25.51, for a total value of $160,942.59. Following the sale, the insider now directly owns 25,139 shares of the company’s stock, valued at approximately $641,295.89. This represents a 20.06 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction, the chief financial officer now owns 14,883 shares of the company’s stock, valued at $379,814.16. The trade was a 16.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 65,176 shares of company stock worth $1,662,110 in the last quarter. Corporate insiders own 24.08% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Huntington National Bank bought a new stake in IMAX in the 3rd quarter valued at $34,000. Headlands Technologies LLC bought a new position in shares of IMAX in the second quarter valued at about $35,000. Quarry LP grew its stake in IMAX by 78,333.3% in the 3rd quarter. Quarry LP now owns 2,353 shares of the company’s stock valued at $48,000 after buying an additional 2,350 shares during the last quarter. nVerses Capital LLC bought a new position in IMAX in the 3rd quarter valued at about $70,000. Finally, Summit Securities Group LLC acquired a new stake in IMAX during the second quarter worth approximately $80,000. 93.51% of the stock is currently owned by institutional investors.

IMAX Trading Up 0.7 %

NYSE:IMAX opened at $26.03 on Friday. IMAX has a 1-year low of $13.20 and a 1-year high of $26.84. The firm has a market capitalization of $1.37 billion, a price-to-earnings ratio of 59.16, a PEG ratio of 1.69 and a beta of 1.23. The business’s 50-day moving average price is $23.52 and its two-hundred day moving average price is $20.45.

IMAX (NYSE:IMAX) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.35 earnings per share for the quarter, beating 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 net margin of 6.74% and a return on equity of 7.53%. IMAX’s revenue for the quarter was down 11.9% on a year-over-year basis. During the same period last year, the company posted $0.27 EPS. Sell-side analysts predict that IMAX will post 0.77 earnings per share for the current year.

About IMAX

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.