IMAX Co. (NYSE:IMAX) Receives $20.57 Consensus Price Target from Brokerages

Shares of IMAX Co. (NYSE:IMAX) have earned an average rating of “Moderate Buy” from the seven analysts that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $20.57.

Several equities research analysts have recently weighed in on IMAX shares. Wedbush reiterated an “outperform” rating and issued a $22.00 price target on shares of IMAX in a report on Wednesday, April 10th. 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 report on Tuesday, February 6th. Benchmark reiterated a “buy” rating and issued a $22.00 price target on shares of IMAX in a report on Wednesday, April 10th. Barrington Research reiterated an “outperform” rating and issued a $24.00 price target on shares of IMAX in a report on Wednesday, February 28th. Finally, StockNews.com downgraded IMAX from a “buy” rating to a “hold” rating in a report on Saturday, January 27th.

Insider Buying and Selling

In other news, VP Robert D. Lister sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $16.87, for a total transaction of $421,750.00. Following 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 legal filing with the SEC, which is available at the SEC website. 24.33% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in IMAX. JPMorgan Chase & Co. raised its stake in shares of IMAX by 4.0% in the first quarter. JPMorgan Chase & Co. now owns 706,135 shares of the company’s stock valued at $13,367,000 after acquiring an additional 27,207 shares in the last quarter. HighTower Advisors LLC purchased a new position in shares of IMAX during the first quarter worth about $229,000. Citigroup Inc. grew its holdings in shares of IMAX by 40.9% during the first quarter. Citigroup Inc. now owns 66,264 shares of the company’s stock worth $1,254,000 after buying an additional 19,226 shares during the last quarter. MetLife Investment Management LLC grew its holdings in shares of IMAX by 53.9% during the first quarter. MetLife Investment Management LLC now owns 27,896 shares of the company’s stock worth $528,000 after buying an additional 9,767 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in IMAX by 0.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,039,779 shares of the company’s stock valued at $19,684,000 after purchasing an additional 6,605 shares in the last quarter. 93.51% of the stock is currently owned by institutional investors and hedge funds.

IMAX Stock Down 0.4 %

NYSE IMAX opened at $16.36 on Tuesday. The firm has a market cap of $866.26 million, a price-to-earnings ratio of 35.57, a price-to-earnings-growth ratio of 1.43 and a beta of 1.25. The business has a 50-day moving average price of $15.87 and a 200-day moving average price of $16.17. 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 EPS for the quarter, beating 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 company had revenue of $86.02 million during the quarter, compared to analyst estimates of $85.83 million. During the same period in the prior year, the company earned $0.05 earnings per share. The firm’s revenue was down 12.3% on a year-over-year basis. Research analysts expect that IMAX will post 0.58 EPS for the current fiscal 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.