IMAX’s (IMAX) “Outperform” Rating Reiterated at Barrington Research

Barrington Research reissued their outperform rating on shares of IMAX (NYSE:IMAX) in a research report report published on Monday, Benzinga reports. The firm currently has a $24.00 target price on the stock. Barrington Research also issued estimates for IMAX’s Q1 2024 earnings at $0.06 EPS, Q2 2024 earnings at $0.05 EPS, Q3 2024 earnings at $0.12 EPS, FY2024 earnings at $0.48 EPS, Q1 2025 earnings at $0.03 EPS, Q2 2025 earnings at $0.08 EPS, Q3 2025 earnings at $0.14 EPS and FY2025 earnings at $0.59 EPS.

Several other equities analysts have also recently commented on IMAX. StockNews.com cut IMAX from a buy rating to a hold rating in a report on Saturday, January 27th. Benchmark reissued a buy rating and issued a $22.00 target price on shares of IMAX in a report on Tuesday, April 16th. Wedbush reissued an outperform rating and issued a $22.00 target price on shares of IMAX in a report on Thursday, April 18th. Rosenblatt Securities dropped their target price on IMAX from $30.00 to $25.00 and set a buy rating for the company in a report on Tuesday, February 13th. Finally, B. Riley dropped their target price on IMAX from $27.00 to $21.00 and set a buy rating for the company in a report on Tuesday, January 2nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, IMAX presently has a consensus rating of Moderate Buy and a consensus price target of $20.57.

IMAX Stock Down 1.1 %

IMAX stock opened at $17.46 on Monday. The business has a 50 day moving average price of $16.31 and a two-hundred day moving average price of $16.09. The stock has a market cap of $924.51 million, a price-to-earnings ratio of 37.96, a price-to-earnings-growth ratio of 1.55 and a beta of 1.25. IMAX has a 12 month low of $13.20 and a 12 month high of $21.82.

IMAX (NYSE:IMAX) last posted its quarterly earnings results on Tuesday, February 27th. The company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.05 by $0.12. The firm had revenue of $86.02 million during the quarter, compared to analysts’ expectations of $85.83 million. IMAX had a return on equity of 9.59% and a net margin of 6.76%. The company’s revenue for the quarter was down 12.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.05 EPS. On average, analysts expect that IMAX will post 0.57 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, VP Robert D. Lister sold 25,000 shares of the stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $16.87, for a total transaction of $421,750.00. Following the sale, the vice president now directly owns 138,889 shares in the company, valued at approximately $2,343,057.43. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 24.33% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of IMAX. Private Capital Management LLC boosted its position in IMAX by 54.3% in the 4th quarter. Private Capital Management LLC now owns 1,185,715 shares of the company’s stock valued at $17,809,000 after buying an additional 417,169 shares during the last quarter. Mizuho Markets Americas LLC bought a new position in IMAX in the 3rd quarter valued at $7,118,000. Kodai Capital Management LP bought a new position in IMAX in the 4th quarter valued at $5,287,000. Alpine Woods Capital Investors LLC boosted its position in IMAX by 33.8% in the 3rd quarter. Alpine Woods Capital Investors LLC now owns 392,278 shares of the company’s stock valued at $7,579,000 after buying an additional 99,163 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its position in IMAX by 13.0% in the 4th quarter. Victory Capital Management Inc. now owns 825,319 shares of the company’s stock valued at $12,396,000 after buying an additional 95,182 shares during the last quarter. 93.51% of the stock is currently owned by institutional investors.

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.