IMAX Corporation (NYSE:IMAX) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of IMAX Corporation (NYSE:IMAX) have been assigned a consensus rating of “Moderate Buy” from the thirteen brokerages that are presently covering the firm, Marketbeat reports. Three analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $52.3636.

A number of equities analysts recently commented on the stock. B. Riley Financial boosted their price objective on shares of IMAX from $52.00 to $61.00 and gave the stock a “buy” rating in a research note on Monday, August 24th. Benchmark reiterated a “buy” rating on shares of IMAX in a research note on Monday, June 22nd. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $60.00 price objective on shares of IMAX in a report on Friday, May 22nd. Seaport Research Partners reiterated a “buy” rating and issued a $50.00 price objective on shares of IMAX in a research note on Wednesday, June 24th. Finally, Wells Fargo & Company lifted their price target on IMAX from $41.00 to $45.00 and gave the company an “equal weight” rating in a research report on Friday, July 24th.

Insider Activity

In related news, insider Kenneth Ian Weissman sold 8,000 shares of the firm’s stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $54.54, for a total transaction of $436,320.00. Following the sale, the insider owned 28,205 shares in the company, valued at approximately $1,538,300.70. This trade represents a 22.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Natasha Fernandes sold 20,000 shares of IMAX stock in a transaction on Monday, August 24th. The shares were sold at an average price of $54.63, for a total transaction of $1,092,600.00. Following the completion of the transaction, the chief financial officer directly owned 35,596 shares of the company’s stock, valued at $1,944,609.48. The trade was a 35.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 484,757 shares of company stock valued at $25,513,021 in the last three months. 20.55% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On IMAX

Institutional investors have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd raised its holdings in IMAX by 28.7% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,489 shares of the company’s stock worth $55,000 after purchasing an additional 332 shares during the period. Triumph Capital Management grew its holdings in IMAX by 3.0% in the second quarter. Triumph Capital Management now owns 17,295 shares of the company’s stock valued at $689,000 after purchasing an additional 504 shares during the period. ProShare Advisors LLC grew its holdings in IMAX by 6.8% in the fourth quarter. ProShare Advisors LLC now owns 8,000 shares of the company’s stock valued at $296,000 after purchasing an additional 511 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of IMAX by 0.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 108,781 shares of the company’s stock valued at $4,021,000 after buying an additional 546 shares in the last quarter. Finally, Quarry LP increased its position in shares of IMAX by 166.8% in the fourth quarter. Quarry LP now owns 875 shares of the company’s stock valued at $32,000 after buying an additional 547 shares in the last quarter. 93.51% of the stock is currently owned by institutional investors and hedge funds.

IMAX Trading Up 1.7%

Shares of IMAX stock opened at $51.25 on Tuesday. The firm has a market cap of $2.81 billion, a P/E ratio of 71.18, a P/E/G ratio of 1.61 and a beta of 0.38. IMAX has a 12 month low of $28.14 and a 12 month high of $55.57. The stock’s fifty day moving average price is $45.70 and its 200-day moving average price is $40.87.

IMAX (NYSE:IMAX) last released its quarterly earnings data on Thursday, July 23rd. The company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.13. IMAX had a net margin of 9.84% and a return on equity of 15.47%. The company had revenue of $102.84 million during the quarter, compared to analyst estimates of $96.09 million. During the same period in the prior year, the firm earned $0.26 earnings per share. The firm’s revenue for the quarter was up 12.2% compared to the same quarter last year. Analysts forecast that IMAX will post 1.49 earnings per share for the current year.

About IMAX

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.