IMAX (NYSE:IMAX) Receives Outperform Rating from Barrington Research

Barrington Research reissued their outperform rating on shares of IMAX (NYSE:IMAX) in a report published on Monday, Benzinga reports. Barrington Research currently has a $24.00 price target 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 research analysts have also recently issued research reports about the stock. The Goldman Sachs Group dropped their target price on shares of IMAX from $15.00 to $13.00 and set a sell rating on the stock in a report on Thursday, January 11th. Benchmark restated a buy rating and issued a $22.00 target price on shares of IMAX in a report on Tuesday, April 16th. B. Riley dropped their target price on shares of IMAX from $27.00 to $21.00 and set a buy rating on the stock in a report on Tuesday, January 2nd. Rosenblatt Securities dropped their price target on shares of IMAX from $30.00 to $25.00 and set a buy rating on the stock in a research note on Tuesday, February 13th. Finally, Wedbush reiterated an outperform rating and set a $22.00 price target on shares of IMAX in a research note on Thursday, April 18th. One equities research 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 data from MarketBeat, the company has an average rating of Moderate Buy and an average price target of $20.57.

IMAX Stock Up 1.2 %

Shares of IMAX opened at $17.65 on Monday. The company has a market capitalization of $934.57 million, a P/E ratio of 38.37, a price-to-earnings-growth ratio of 1.52 and a beta of 1.25. The firm has a 50 day moving average of $16.25 and a 200 day moving average of $16.08. IMAX has a twelve month low of $13.20 and a twelve month high of $21.82.

IMAX (NYSE:IMAX) last issued its earnings results on Tuesday, February 27th. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.12. IMAX had a net margin of 6.76% and a return on equity of 9.59%. The company had revenue of $86.02 million for the quarter, compared to analysts’ expectations of $85.83 million. During the same quarter last year, the company posted $0.05 earnings per share. The firm’s quarterly revenue was down 12.3% on a year-over-year basis. On average, sell-side analysts expect that IMAX will post 0.56 EPS for the current year.

Insider Activity at IMAX

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Arizona State Retirement System lifted its stake in shares of IMAX by 8.9% during the 3rd quarter. Arizona State Retirement System now owns 13,212 shares of the company’s stock valued at $255,000 after buying an additional 1,085 shares in the last quarter. Mission Wealth Management LP increased its holdings in IMAX by 3.6% in the 4th quarter. Mission Wealth Management LP now owns 50,587 shares of the company’s stock valued at $760,000 after acquiring an additional 1,737 shares during the last quarter. PNC Financial Services Group Inc. bought a new stake in IMAX in the 4th quarter valued at $33,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in IMAX by 41.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,531 shares of the company’s stock valued at $242,000 after acquiring an additional 3,682 shares during the last quarter. Finally, Jupiter Asset Management Ltd. increased its holdings in IMAX by 21.8% in the 3rd quarter. Jupiter Asset Management Ltd. now owns 22,031 shares of the company’s stock valued at $426,000 after acquiring an additional 3,945 shares during the last quarter. Hedge funds and other institutional investors own 93.51% of the company’s stock.

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.