IMAX (NYSE:IMAX) Receives Outperform Rating from Wedbush

Wedbush restated their outperform rating on shares of IMAX (NYSE:IMAX) in a research report sent to investors on Wednesday morning, Benzinga reports. Wedbush currently has a $22.00 price objective on the stock.

Other equities analysts have also recently issued research reports about the company. Benchmark reiterated a buy rating and issued a $22.00 price objective on shares of IMAX in a research note on Wednesday. StockNews.com downgraded IMAX from a buy rating to a hold rating in a report on Saturday, January 27th. The Goldman Sachs Group decreased their price objective on IMAX from $15.00 to $13.00 and set a sell rating for the company in a report on Thursday, January 11th. JPMorgan Chase & Co. decreased their price objective on IMAX from $20.00 to $17.00 and set a neutral rating for the company in a report on Tuesday, February 6th. Finally, B. Riley decreased their price objective 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 issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of Moderate Buy and an average price target of $20.57.

IMAX Stock Up 0.8 %

Shares of IMAX opened at $16.75 on Wednesday. IMAX has a 52-week low of $13.20 and a 52-week high of $21.82. The company has a market capitalization of $886.65 million, a PE ratio of 36.40, a price-to-earnings-growth ratio of 1.40 and a beta of 1.25. The stock has a fifty day simple moving average of $15.70 and a two-hundred day simple moving average of $16.24.

IMAX (NYSE:IMAX) last issued its earnings results on Tuesday, February 27th. The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.12. The business had revenue of $86.02 million during the quarter, compared to the consensus estimate 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 period last year, the company earned $0.05 EPS. As a group, equities analysts anticipate that IMAX will post 0.58 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other IMAX news, VP Robert D. Lister sold 25,000 shares of the stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $16.87, for a total value of $421,750.00. Following the completion of the transaction, the vice president now owns 138,889 shares in the company, valued at $2,343,057.43. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 24.33% of the stock is currently owned by company insiders.

Institutional Trading of IMAX

Large investors have recently made changes to their positions in the stock. PNC Financial Services Group Inc. acquired a new stake in IMAX in the 4th quarter worth about $33,000. Tower Research Capital LLC TRC raised its holdings in shares of IMAX by 164.8% in the 3rd quarter. Tower Research Capital LLC TRC now owns 3,260 shares of the company’s stock worth $46,000 after purchasing an additional 2,029 shares during the period. Point72 Hong Kong Ltd purchased a new position in shares of IMAX in the 4th quarter worth about $65,000. Partnership Wealth Management LLC purchased a new position in shares of IMAX in the 4th quarter worth about $111,000. Finally, SRS Capital Advisors Inc. raised its holdings in shares of IMAX by 11.1% in the 1st quarter. SRS Capital Advisors Inc. now owns 6,492 shares of the company’s stock worth $125,000 after purchasing an additional 650 shares during the period. Institutional investors and hedge funds own 93.51% of the company’s stock.

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.