Shares of IMAX Co. (NYSE:IMAX – Get Free Report) have earned a consensus rating of “Moderate Buy” from the ten ratings firms that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, seven have given a buy recommendation and one has given 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.
A number of analysts have commented on the company. Wedbush restated an “outperform” rating on shares of IMAX in a research note on Wednesday, November 27th. Roth Mkm boosted their target price on IMAX from $27.00 to $28.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. StockNews.com raised shares of IMAX from a “hold” rating to a “buy” rating in a report on Thursday, January 2nd. JPMorgan Chase & Co. boosted their price objective on shares of IMAX from $20.00 to $21.00 and gave the company a “neutral” rating in a report on Monday, October 14th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $28.00 target price on shares of IMAX in a report on Thursday, October 31st.
Get Our Latest Stock Report on IMAX
IMAX Price Performance
IMAX (NYSE:IMAX – Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.12. IMAX had a net margin of 6.74% and a return on equity of 7.53%. The firm had revenue of $91.50 million for the quarter, compared to analysts’ expectations of $93.71 million. During the same quarter in the prior year, the company posted $0.27 earnings per share. The business’s revenue for the quarter was down 11.9% on a year-over-year basis. On average, equities analysts expect that IMAX will post 0.77 EPS for the current fiscal year.
Insider Activity
In other IMAX news, EVP Robert D. Lister sold 55,910 shares of IMAX stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $25.50, for a total transaction of $1,425,705.00. Following the transaction, the executive vice president now owns 138,889 shares of the company’s stock, valued at $3,541,669.50. The trade was a 28.70 % 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, CFO Natasha Fernandes sold 2,957 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $25.52, for a total transaction of $75,462.64. Following the completion of the sale, the chief financial officer now directly owns 14,883 shares of the company’s stock, valued at approximately $379,814.16. This trade represents a 16.58 % 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 valued at $1,662,110 in the last 90 days. Company insiders own 24.08% of the company’s stock.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of IMAX. FMR LLC raised its holdings in IMAX by 108.4% during the third quarter. FMR LLC now owns 3,949,643 shares of the company’s stock valued at $81,007,000 after acquiring an additional 2,054,031 shares during the period. Victory Capital Management Inc. raised its stake in IMAX by 33.1% during the 2nd quarter. Victory Capital Management Inc. now owns 1,293,221 shares of the company’s stock valued at $21,687,000 after purchasing an additional 321,506 shares during the period. Lord Abbett & CO. LLC purchased a new position in IMAX in the 3rd quarter worth approximately $6,322,000. Castleark Management LLC bought a new position in IMAX in the 3rd quarter worth approximately $5,199,000. Finally, Pier Capital LLC purchased a new stake in IMAX during the 3rd quarter valued at approximately $4,221,000. Hedge funds and other institutional investors 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.
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