IMAX Co. (NYSE:IMAX) Given Average Recommendation of "Moderate Buy" by Analysts

IMAX Co. (NYSE:IMAX - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the ten research firms that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, seven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $25.11.

IMAX has been the topic of a number of research reports. JPMorgan Chase & Co. lifted their price objective on IMAX from $20.00 to $21.00 and gave the stock a "neutral" rating in a research note on Monday, October 14th. Roth Mkm upped their price target on shares of IMAX from $27.00 to $28.00 and gave the company a "buy" rating in a research note on Thursday, October 31st. StockNews.com upgraded shares of IMAX from a "hold" rating to a "buy" rating in a research report on Thursday, January 2nd. Rosenblatt Securities restated a "buy" rating and set a $28.00 target price on shares of IMAX in a research report on Thursday, October 31st. Finally, Benchmark increased their price target on shares of IMAX from $27.00 to $30.00 and gave the company a "buy" rating in a report on Friday, December 13th.

IMAX Trading Down 1.5 %

Shares of NYSE:IMAX traded down $0.36 during midday trading on Thursday, reaching $23.60. 792,429 shares of the company were exchanged, compared to its average volume of 558,946. The stock has a market cap of $1.24 billion, a PE ratio of 53.64, a price-to-earnings-growth ratio of 1.69 and a beta of 1.24. The business's fifty day moving average is $25.05 and its two-hundred day moving average is $21.60. IMAX has a one year low of $13.20 and a one year high of $26.84.

IMAX (NYSE:IMAX - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.23 by $0.12. IMAX had a net margin of 6.74% and a return on equity of 7.53%. The business had revenue of $91.50 million during the quarter, compared to the consensus estimate of $93.71 million. The business's revenue was down 11.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.27 EPS. As a group, sell-side analysts expect that IMAX will post 0.77 EPS for the current year.

Insider Activity at IMAX

In related news, insider Kenneth Ian Weissman sold 6,309 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $25.51, for a total value of $160,942.59. Following the transaction, the insider now owns 25,139 shares of the company's stock, valued at $641,295.89. This represents a 20.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Robert D. Lister sold 55,910 shares of IMAX stock in a transaction on Monday, December 9th. The shares were sold at an average price of $25.50, for a total value of $1,425,705.00. Following the sale, the executive vice president now directly owns 138,889 shares of the company's stock, valued at approximately $3,541,669.50. This trade represents a 28.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 65,176 shares of company stock worth $1,662,110 in the last quarter. 24.08% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Huntington National Bank purchased a new position in IMAX in the third quarter valued at about $34,000. Headlands Technologies LLC bought a new stake in shares of IMAX in the 2nd quarter valued at about $35,000. Quarry LP grew its position in shares of IMAX by 78,333.3% in the 3rd quarter. Quarry LP now owns 2,353 shares of the company's stock worth $48,000 after buying an additional 2,350 shares during the last quarter. nVerses Capital LLC bought a new position in shares of IMAX during the 3rd quarter worth approximately $70,000. Finally, US Bancorp DE lifted its position in IMAX by 23.4% during the third quarter. US Bancorp DE now owns 7,656 shares of the company's stock valued at $157,000 after acquiring an additional 1,452 shares during the last quarter. Hedge funds and other institutional investors own 93.51% of the company's stock.

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.