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

Shares of IMAX Corporation (NYSE:IMAX) have been assigned an average recommendation of “Moderate Buy” from the eleven brokerages that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $42.70.

A number of research firms recently issued reports on IMAX. JPMorgan Chase & Co. raised IMAX from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $32.00 to $47.00 in a report on Monday, December 15th. Weiss Ratings reiterated a “buy (b)” rating on shares of IMAX in a research report on Monday, December 29th. Wall Street Zen lowered shares of IMAX from a “strong-buy” rating to a “buy” rating in a report on Friday. Rosenblatt Securities boosted their price objective on shares of IMAX from $42.00 to $47.00 and gave the stock a “buy” rating in a research report on Monday, December 8th. Finally, Barrington Research increased their price objective on IMAX from $37.00 to $42.00 and gave the company an “outperform” rating in a research report on Monday, December 8th.

Insider Activity

In other IMAX news, EVP Giovanni M. Dolci sold 6,188 shares of the company’s stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $34.25, for a total transaction of $211,939.00. Following the transaction, the executive vice president directly owned 33,000 shares in the company, valued at approximately $1,130,250. This represents a 15.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Robert D. Lister sold 50,143 shares of IMAX stock in a transaction that occurred 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 approximately $5,596,466.07. This represents a 23.70% decrease in their position. The SEC filing for this sale provides additional information. 23.18% of the stock is owned by company insiders.

Hedge Funds Weigh In On IMAX

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. CIBC Private Wealth Group LLC acquired a new stake in IMAX during the 3rd quarter worth $27,000. TD Waterhouse Canada Inc. boosted its position 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 purchasing an additional 500 shares during the last quarter. Jones Financial Companies Lllp boosted its position in shares of IMAX by 43.8% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,041 shares of the company’s stock worth $34,000 after purchasing an additional 317 shares during the last quarter. First Horizon Corp acquired a new stake in shares of IMAX during the third quarter worth $34,000. Finally, Clearstead Advisors LLC bought a new stake in IMAX in the third quarter valued at about $35,000. 93.51% of the stock is owned by institutional investors.

IMAX Price Performance

Shares of IMAX opened at $34.60 on Monday. The company has a market capitalization of $1.86 billion, a P/E ratio of 48.73, a PEG ratio of 1.76 and a beta of 0.37. IMAX has a one year low of $20.48 and a one year high of $39.98. The business’s 50 day simple moving average is $36.49 and its 200-day simple moving average is $32.26.

IMAX (NYSE:IMAX) last issued its quarterly earnings data on Thursday, October 23rd. The company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.16. The firm had revenue of $106.65 million during the quarter, compared to the consensus estimate of $102.88 million. IMAX had a return on equity of 9.91% and a net margin of 10.47%.The business’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.35 EPS. On average, sell-side analysts anticipate that IMAX will post 0.91 EPS for the current fiscal year.

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.