Analysts Set IMAX Co. (NYSE:IMAX) PT at $25.11

IMAX Co. (NYSE:IMAX) has earned an average rating of “Moderate Buy” from the ten analysts that are covering the company, MarketBeat Ratings reports. One 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 1-year price objective among brokerages that have issued ratings on the stock in the last year is $25.11.

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

Insider Activity at IMAX

In other news, CFO Natasha Fernandes sold 2,957 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $25.52, for a total transaction of $75,462.64. Following the transaction, 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 position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Robert D. Lister sold 55,910 shares of the firm’s 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 sale, the executive vice president now owns 138,889 shares of the company’s stock, 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. Insiders sold 65,176 shares of company stock valued at $1,662,110 over the last 90 days. Insiders own 24.08% of the company’s stock.

Institutional Trading of IMAX

A number of institutional investors and hedge funds have recently bought and sold shares of IMAX. Huntington National Bank acquired a new stake in shares of IMAX during the 3rd quarter worth about $34,000. Headlands Technologies LLC acquired a new stake in shares of IMAX in the 2nd quarter worth $35,000. Quarry LP grew its holdings in IMAX by 78,333.3% during the third quarter. Quarry LP now owns 2,353 shares of the company’s stock worth $48,000 after acquiring an additional 2,350 shares during the period. nVerses Capital LLC acquired a new stake in shares of IMAX during the 3rd quarter valued at approximately $70,000. Finally, Summit Securities Group LLC purchased a new position in IMAX during the 2nd quarter valued at about $80,000. 93.51% of the stock is currently owned by hedge funds and other institutional investors.

IMAX Stock Down 1.3 %

Shares of IMAX opened at $24.52 on Friday. The business’s 50-day moving average price is $24.00 and its 200-day moving average price is $20.72. IMAX has a twelve month low of $13.20 and a twelve month high of $26.84. The stock has a market cap of $1.29 billion, a PE ratio of 55.73, a P/E/G ratio of 1.69 and a beta of 1.23.

IMAX (NYSE:IMAX) last posted 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 firm had revenue of $91.50 million during the quarter, compared to analysts’ expectations of $93.71 million. IMAX had a return on equity of 7.53% and a net margin of 6.74%. The company’s revenue for the quarter was down 11.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.27 EPS. Analysts expect that IMAX will post 0.77 earnings per share for the current fiscal 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.