IMAX (NYSE:IMAX) Receives Outperform Rating from Wedbush

Wedbush reiterated their outperform rating on shares of IMAX (NYSE:IMAX) in a report published on Thursday morning, Benzinga reports. They currently have a $22.00 target price on the stock.

Other research analysts also recently issued reports about the company. Rosenblatt Securities dropped their price objective on IMAX from $30.00 to $25.00 and set a buy rating on the stock in a research note on Tuesday, February 13th. JPMorgan Chase & Co. dropped their price objective on IMAX from $20.00 to $17.00 and set a neutral rating on the stock in a research note on Tuesday, February 6th. The Goldman Sachs Group dropped their price objective on IMAX from $15.00 to $13.00 and set a sell rating on the stock in a research note on Thursday, January 11th. Benchmark reaffirmed a buy rating and set a $22.00 price target on shares of IMAX in a research note on Tuesday. Finally, Barrington Research reaffirmed an outperform rating and set a $24.00 price target on shares of IMAX in a research note on Wednesday, February 28th. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, IMAX presently has a consensus rating of Moderate Buy and a consensus target price of $20.57.

IMAX Trading Up 0.2 %

NYSE IMAX opened at $17.10 on Thursday. The business’s 50-day moving average price is $16.07 and its two-hundred day moving average price is $16.16. IMAX has a 12 month low of $13.20 and a 12 month high of $21.82. The firm has a market capitalization of $905.45 million, a PE ratio of 37.17, a price-to-earnings-growth ratio of 1.54 and a beta of 1.25.

IMAX (NYSE:IMAX) last announced its quarterly earnings data on Tuesday, February 27th. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.12. The company had revenue of $86.02 million for the quarter, compared to the consensus estimate of $85.83 million. IMAX had a return on equity of 9.59% and a net margin of 6.76%. The firm’s revenue was down 12.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.05 EPS. As a group, analysts forecast that IMAX will post 0.55 earnings per share for the current fiscal year.

Insider Buying and Selling

In other IMAX 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 completion of the sale, the vice president now directly owns 138,889 shares of the company’s stock, valued at approximately $2,343,057.43. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 24.33% of the stock is owned by company insiders.

Institutional Trading of IMAX

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Private Capital Management LLC increased 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 purchasing an additional 417,169 shares in the last quarter. Partnership Wealth Management LLC increased its holdings in IMAX by 63.1% during the 1st quarter. Partnership Wealth Management LLC now owns 12,932 shares of the company’s stock worth $209,000 after purchasing an additional 5,005 shares in the last quarter. Quadrature Capital Ltd increased its holdings in IMAX by 9.9% during the 4th quarter. Quadrature Capital Ltd now owns 60,867 shares of the company’s stock worth $914,000 after purchasing an additional 5,470 shares in the last quarter. PNC Financial Services Group Inc. bought a new stake in IMAX during the 4th quarter worth approximately $33,000. Finally, Price T Rowe Associates Inc. MD increased its holdings in IMAX by 8.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,929 shares of the company’s stock worth $165,000 after purchasing an additional 806 shares in the last quarter. 93.51% of the stock is owned by institutional investors.

IMAX Company Profile

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.