IMAX Corporation (NYSE:IMAX) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of IMAX Corporation (NYSE:IMAX) have been given an average recommendation of “Moderate Buy” by the eleven analysts that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $42.70.

A number of research analysts recently commented on the company. Weiss Ratings restated a “buy (b)” rating on shares of IMAX in a research note on Monday, December 29th. Macquarie boosted their price target on shares of IMAX from $39.00 to $44.00 and gave the company an “outperform” rating in a report on Thursday. Benchmark restated a “buy” rating on shares of IMAX in a research report on Monday, January 5th. Barrington Research lifted their price objective on shares of IMAX from $37.00 to $42.00 and gave the company an “outperform” rating in a research report on Monday, December 8th. Finally, Rosenblatt Securities boosted their target price on shares of IMAX from $42.00 to $47.00 and gave the company a “buy” rating in a research note on Monday, December 8th.

IMAX Price Performance

IMAX stock opened at $37.44 on Monday. IMAX has a 12 month low of $20.48 and a 12 month high of $39.98. The company has a fifty day moving average price of $36.39 and a two-hundred day moving average price of $32.01. The company has a market cap of $2.01 billion, a PE ratio of 52.73, a P/E/G ratio of 1.85 and a beta of 0.37.

IMAX (NYSE:IMAX) last posted its earnings results on Thursday, October 23rd. The company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.31 by $0.16. The company had revenue of $106.65 million during the quarter, compared to analyst estimates of $102.88 million. IMAX had a return on equity of 9.91% and a net margin of 10.47%.The business’s revenue was up 16.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.35 earnings per share. Equities research analysts anticipate that IMAX will post 0.91 earnings per share for the current year.

Insider Activity at IMAX

In other IMAX news, VP Robert D. Lister sold 50,143 shares of IMAX stock in a transaction on Friday, November 7th. The stock was sold at an average price of $34.67, for a total transaction of $1,738,457.81. Following the sale, the vice president owned 161,421 shares of the company’s stock, valued at $5,596,466.07. The trade was a 23.70% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Giovanni M. Dolci sold 6,188 shares of the stock in a transaction on Monday, November 10th. The stock was sold at an average price of $34.25, for a total value of $211,939.00. Following the completion of the transaction, the executive vice president directly owned 33,000 shares of the company’s stock, valued at approximately $1,130,250. The trade was a 15.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 23.18% of the company’s stock.

Institutional Investors Weigh In On IMAX

Several institutional investors have recently bought and sold shares of IMAX. CIBC Private Wealth Group LLC bought a new stake in shares of IMAX during the 3rd quarter worth about $27,000. TD Waterhouse Canada Inc. lifted its stake in shares of IMAX by 125.0% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 900 shares of the company’s stock worth $25,000 after acquiring an additional 500 shares during the period. Jones Financial Companies Lllp boosted its holdings in shares of IMAX by 43.8% in the third quarter. Jones Financial Companies Lllp now owns 1,041 shares of the company’s stock valued at $34,000 after acquiring an additional 317 shares in the last quarter. First Horizon Corp acquired a new position in shares of IMAX during the third quarter valued at approximately $34,000. Finally, Clearstead Advisors LLC bought a new stake in IMAX during the third quarter worth approximately $35,000. Institutional investors and hedge funds own 93.51% of the company’s stock.

About IMAX

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.