IMAX (NYSE:IMAX) Price Target Cut to $47.00 by Analysts at JPMorgan Chase & Co.

IMAX (NYSE:IMAX) had its price objective reduced by JPMorgan Chase & Co. from $48.00 to $47.00 in a research report released on Friday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

A number of other brokerages have also weighed in on IMAX. Macquarie Infrastructure lifted their price target on shares of IMAX from $39.00 to $44.00 and gave the company an “outperform” rating in a research note on Thursday, January 15th. Wedbush reaffirmed an “outperform” rating and issued a $46.00 price target on shares of IMAX in a research note on Thursday, April 23rd. Barrington Research lifted their price target on shares of IMAX from $42.00 to $46.00 and gave the company an “outperform” rating in a research note on Friday. The Goldman Sachs Group lifted their price target on shares of IMAX from $37.00 to $41.00 and gave the company a “neutral” rating in a research note on Monday, March 2nd. Finally, Wall Street Zen lowered shares of IMAX from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 28th. Nine equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $44.00.

IMAX Price Performance

IMAX traded down $1.72 during trading on Friday, reaching $36.31. The company had a trading volume of 3,739,420 shares, compared to its average volume of 991,163. IMAX has a 12 month low of $22.54 and a 12 month high of $43.16. The business’s fifty day moving average price is $38.22 and its 200 day moving average price is $36.42. The company has a market cap of $2.00 billion, a P/E ratio of 58.56, a PEG ratio of 1.71 and a beta of 0.37.

IMAX (NYSE:IMAX) last announced its quarterly earnings results on Thursday, April 30th. The company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.02. IMAX had a net margin of 9.08% and a return on equity of 13.66%. The firm had revenue of $81.38 million for the quarter, compared to analyst estimates of $79.82 million. During the same quarter in the previous year, the firm posted $0.13 earnings per share. The business’s revenue was down 6.1% on a year-over-year basis. As a group, sell-side analysts predict that IMAX will post 1.33 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Richard L. Gelfond sold 8,943 shares of IMAX stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $37.33, for a total value of $333,842.19. Following the sale, the chief executive officer directly owned 765,002 shares in the company, valued at $28,557,524.66. This trade represents a 1.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kevin Douglas sold 330,200 shares of the stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $37.82, for a total value of $12,488,164.00. Following the transaction, the insider directly owned 3,657,450 shares of the company’s stock, valued at $138,324,759. This trade represents a 8.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 1,054,284 shares of company stock worth $40,062,532 over the last quarter. 23.18% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Divisadero Street Capital Management LP acquired a new position in shares of IMAX during the 3rd quarter worth approximately $20,975,000. Principal Financial Group Inc. raised its position in IMAX by 67.8% during the third quarter. Principal Financial Group Inc. now owns 70,927 shares of the company’s stock worth $2,323,000 after acquiring an additional 28,667 shares in the last quarter. Citigroup Inc. raised its position in IMAX by 267.7% during the third quarter. Citigroup Inc. now owns 66,769 shares of the company’s stock worth $2,187,000 after acquiring an additional 48,609 shares in the last quarter. Zhang Financial LLC bought a new stake in IMAX during the third quarter worth $903,000. Finally, Emerald Mutual Fund Advisers Trust bought a new stake in IMAX during the third quarter worth $4,893,000. Institutional investors and hedge funds own 93.51% of the company’s stock.

Key Stories Impacting IMAX

Here are the key news stories impacting IMAX this week:

• Positive Sentiment: Q1 EPS beat — IMAX reported $0.17 EPS vs. the $0.15 consensus, signaling underlying profitability strength. MarketBeat Earnings Summary
• Positive Sentiment: Analyst support remains — JPMorgan trimmed its price target slightly from $48 to $47 but kept an “overweight” rating, implying continued analyst confidence in upside. Benzinga
• Positive Sentiment: Exhibition expansion — IMAX extended its partnership with HOYTS to roll out ~10 new IMAX locations across Australia & New Zealand, supporting long‑term capacity and box‑office exposure. B & T
• Neutral Sentiment: Corporate commentary and detail — IMAX filed its Q1 results and provided an earnings slide deck and call transcript for more color on guidance and mix. Investors will parse the call for forward commentary. Press Release / Slide Deck
• Negative Sentiment: Revenue and profit pressure — Total Q1 revenue fell ~6% YoY to $81.4M despite hits like Project Hail Mary and Avatar titles; several outlets flagged declining revenue/profit, which likely trimmed investor enthusiasm. Variety
• Negative Sentiment: Insider selling — IMAX’s CEO reported a sale of roughly $333,842 worth of shares, a catalyst that can weigh on sentiment when combined with mixed results. American Banking News

IMAX Company Profile

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.