IMAX Corporation (NYSE:IMAX) Receives Average Rating of “Moderate Buy” from Analysts

Shares of IMAX Corporation (NYSE:IMAX) have been given a consensus recommendation of “Moderate Buy” by the twelve brokerages that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and nine have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $34.70.

Several equities research analysts have recently weighed in on IMAX shares. B. Riley reiterated a “buy” rating on shares of IMAX in a report on Friday. Wells Fargo & Company increased their price target on IMAX from $30.00 to $34.00 and gave the stock an “overweight” rating in a report on Friday, July 25th. Wall Street Zen upgraded IMAX from a “buy” rating to a “strong-buy” rating in a report on Saturday. Benchmark increased their price target on IMAX from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Friday, July 25th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of IMAX in a report on Wednesday.

Insider Buying and Selling at IMAX

In other IMAX news, VP Robert D. Lister sold 20,000 shares of the firm’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $32.80, for a total transaction of $656,000.00. Following the transaction, the vice president directly owned 161,421 shares in the company, valued at $5,294,608.80. This trade represents a 11.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Kenneth Ian Weissman sold 15,072 shares of the firm’s stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $25.65, for a total value of $386,596.80. Following the transaction, the insider owned 26,133 shares in the company, valued at $670,311.45. The trade was a 36.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 23.18% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Orbis Allan Gray Ltd increased its holdings in IMAX by 31.7% during the 2nd quarter. Orbis Allan Gray Ltd now owns 5,113,033 shares of the company’s stock worth $142,960,000 after purchasing an additional 1,230,267 shares during the period. Ameriprise Financial Inc. increased its holdings in shares of IMAX by 8.3% in the 1st quarter. Ameriprise Financial Inc. now owns 1,974,068 shares of the company’s stock valued at $52,019,000 after acquiring an additional 150,552 shares during the period. Nantahala Capital Management LLC increased its holdings in shares of IMAX by 24.9% in the 2nd quarter. Nantahala Capital Management LLC now owns 1,133,993 shares of the company’s stock valued at $31,706,000 after acquiring an additional 225,742 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of IMAX by 10.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,029,602 shares of the company’s stock valued at $28,788,000 after acquiring an additional 101,048 shares during the period. Finally, Primecap Management Co. CA increased its holdings in shares of IMAX by 1.3% in the 2nd quarter. Primecap Management Co. CA now owns 751,602 shares of the company’s stock valued at $21,015,000 after acquiring an additional 9,902 shares during the period. 93.51% of the stock is currently owned by hedge funds and other institutional investors.

IMAX Stock Performance

Shares of NYSE IMAX opened at $31.19 on Friday. The business’s 50 day moving average price is $29.56 and its 200-day moving average price is $27.39. IMAX has a fifty-two week low of $19.91 and a fifty-two week high of $34.14. The company has a market cap of $1.68 billion, a price-to-earnings ratio of 51.98, a PEG ratio of 2.16 and a beta of 0.62.

IMAX (NYSE:IMAX) last issued its quarterly earnings results on Thursday, July 24th. The company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.07. IMAX had a return on equity of 8.62% and a net margin of 9.04%.The firm had revenue of $91.68 million for the quarter, compared to the consensus estimate of $93.04 million. During the same period in the prior year, the business posted $0.18 earnings per share. The company’s revenue for the quarter was up 3.1% on a year-over-year basis. Sell-side analysts predict that IMAX will post 0.91 earnings per share for the current year.

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.