IMAX’s (IMAX) Outperform Rating Reiterated at Barrington Research

Barrington Research reaffirmed their outperform rating on shares of IMAX (NYSE:IMAX) in a research note released on Monday morning, Benzinga reports. They currently have a $24.00 target price on the stock. Barrington Research also issued estimates for IMAX’s Q2 2024 earnings at $0.05 EPS, Q3 2024 earnings at $0.12 EPS, FY2024 earnings at $0.48 EPS, Q2 2025 earnings at $0.08 EPS, Q3 2025 earnings at $0.14 EPS and FY2025 earnings at $0.59 EPS.

Other equities analysts also recently issued research reports about the company. StockNews.com downgraded IMAX from a buy rating to a hold rating in a research report on Saturday, January 27th. Benchmark reissued a buy rating and set a $22.00 price target on shares of IMAX in a research report on Tuesday, April 16th. Wedbush reissued an outperform rating and set a $22.00 price target on shares of IMAX in a research report on Thursday, April 18th. Rosenblatt Securities reduced their price target on IMAX from $30.00 to $25.00 and set a buy rating on the stock in a research report on Tuesday, February 13th. Finally, JPMorgan Chase & Co. reduced their price target on IMAX from $20.00 to $17.00 and set a neutral rating on the stock in a research report on Tuesday, February 6th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average target price of $20.57.

IMAX Stock Up 1.2 %

Shares of NYSE IMAX opened at $17.65 on Monday. The business’s 50 day moving average price is $16.25 and its two-hundred day moving average price is $16.08. The company has a market cap of $934.57 million, a PE ratio of 38.37, a price-to-earnings-growth ratio of 1.52 and a beta of 1.25. IMAX has a twelve month low of $13.20 and a twelve month high of $21.82.

IMAX (NYSE:IMAX) last announced its quarterly earnings results on Tuesday, February 27th. The company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.12. IMAX had a return on equity of 9.59% and a net margin of 6.76%. The firm had revenue of $86.02 million for the quarter, compared to the consensus estimate of $85.83 million. During the same quarter in the previous year, the business earned $0.05 earnings per share. The business’s revenue was down 12.3% compared to the same quarter last year. As a group, research analysts anticipate that IMAX will post 0.56 EPS for the current fiscal year.

Insider Activity

In other news, VP Robert D. Lister sold 25,000 shares of the stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $16.87, for a total value of $421,750.00. Following the completion of the transaction, the vice president now directly owns 138,889 shares in the company, valued at approximately $2,343,057.43. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 24.33% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP grew its holdings in IMAX by 0.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,454,524 shares of the company’s stock worth $21,847,000 after acquiring an additional 10,358 shares during the period. Private Capital Management LLC grew its holdings in IMAX by 54.3% during the 4th quarter. Private Capital Management LLC now owns 1,185,715 shares of the company’s stock worth $17,809,000 after acquiring an additional 417,169 shares during the period. Victory Capital Management Inc. grew its holdings in IMAX by 13.0% during the 4th quarter. Victory Capital Management Inc. now owns 825,319 shares of the company’s stock worth $12,396,000 after acquiring an additional 95,182 shares during the period. Alpine Woods Capital Investors LLC grew its holdings in IMAX by 33.8% during the 3rd quarter. Alpine Woods Capital Investors LLC now owns 392,278 shares of the company’s stock worth $7,579,000 after acquiring an additional 99,163 shares during the period. Finally, Mizuho Markets Americas LLC acquired a new stake in IMAX during the 3rd quarter worth about $7,118,000. 93.51% of the stock is owned by institutional investors.

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.