IMAX Co. (NYSE:IMAX) Receives $20.57 Average Price Target from Analysts

Shares of IMAX Co. (NYSE:IMAX) have earned a consensus recommendation of “Moderate Buy” from the seven research firms that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $20.57.

A number of equities analysts have recently commented on the stock. Rosenblatt Securities reduced their price objective on shares of IMAX from $30.00 to $25.00 and set a “buy” rating for the company in a report on Tuesday, February 13th. Benchmark reiterated a “buy” rating and set a $22.00 price target on shares of IMAX in a research report on Wednesday, April 10th. StockNews.com cut shares of IMAX from a “buy” rating to a “hold” rating in a research report on Saturday, January 27th. JPMorgan Chase & Co. decreased their price objective on shares of IMAX from $20.00 to $17.00 and set a “neutral” rating for the company in a report on Tuesday, February 6th. Finally, The Goldman Sachs Group decreased their price objective on shares of IMAX from $15.00 to $13.00 and set a “sell” rating for the company in a report on Thursday, January 11th.

Insider Activity

In other news, VP Robert D. Lister sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $16.87, for a total value 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 is available at the SEC website. 24.33% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. bought a new stake in IMAX during the 4th quarter valued at $33,000. Tower Research Capital LLC TRC lifted its holdings in IMAX by 164.8% during the third quarter. Tower Research Capital LLC TRC now owns 3,260 shares of the company’s stock valued at $46,000 after purchasing an additional 2,029 shares during the last quarter. Point72 Hong Kong Ltd purchased a new stake in IMAX during the fourth quarter valued at about $65,000. Tower Research Capital LLC TRC lifted its holdings in IMAX by 545.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,992 shares of the company’s stock valued at $75,000 after purchasing an additional 4,218 shares during the last quarter. Finally, Partnership Wealth Management LLC bought a new stake in shares of IMAX during the fourth quarter valued at about $111,000. Institutional investors own 93.51% of the company’s stock.

IMAX Stock Down 0.4 %

Shares of IMAX opened at $16.36 on Tuesday. The company’s fifty day moving average is $15.87 and its 200-day moving average is $16.17. IMAX has a 12 month low of $13.20 and a 12 month high of $21.82. The firm has a market cap of $866.26 million, a price-to-earnings ratio of 35.57, a price-to-earnings-growth ratio of 1.43 and a beta of 1.25.

IMAX (NYSE:IMAX) last posted its earnings results on Tuesday, February 27th. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.12. The business had revenue of $86.02 million for the quarter, compared to analyst estimates of $85.83 million. IMAX had a net margin of 6.76% and a return on equity of 9.59%. IMAX’s revenue was down 12.3% compared to the same quarter last year. During the same period last year, the business posted $0.05 EPS. As a group, research analysts predict that IMAX will post 0.58 earnings per share for the current fiscal year.

IMAX Company Profile

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.