IMAX Corporation (NYSE:IMAX) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Key Points

• Analyst consensus: 11 brokerages rate IMAX a "Moderate Buy" (nine buys, two holds) with an average 1‑year price target of $43.70.
• Insider selling: Insiders have sold 1,054,284 shares valued at about $40.06 million in the past 90 days (including CEO and a large sale by Kevin Douglas), though insiders still own 24.08% of the company.
• Recent results: IMAX beat Q results with EPS of $0.58 vs. $0.43 expected and revenue of $125.21M (up 35.1% YoY); the company has a market cap of ~$2.04B and a P/E around 59.7.

IMAX Corporation (NYSE:IMAX - Get Free Report) has been given an average recommendation of "Moderate Buy" by the eleven brokerages that are currently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $43.70.

IMAX has been the subject of a number of recent research reports. Seaport Research Partners lifted their price target on shares of IMAX from $43.00 to $45.00 and gave the stock a "buy" rating in a research note on Wednesday, April 8th. JPMorgan Chase & Co. boosted their price objective on shares of IMAX from $47.00 to $48.00 and gave the stock an "overweight" rating in a research report on Thursday, February 26th. Wall Street Zen downgraded shares of IMAX from a "strong-buy" rating to a "buy" rating in a research report on Saturday, February 28th. Benchmark boosted their price objective on shares of IMAX from $42.00 to $44.00 and gave the stock a "buy" rating in a research report on Thursday, February 26th. Finally, Weiss Ratings downgraded shares of IMAX from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Friday.

Insider Activity at IMAX

In other news, CEO Richard L. Gelfond sold 8,943 shares of the business's stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $37.33, for a total transaction of $333,842.19. Following the completion of the sale, the chief executive officer owned 765,002 shares in the company, valued at approximately $28,557,524.66. The trade was a 1.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kevin Douglas sold 330,200 shares of the business's stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $37.82, for a total transaction of $12,488,164.00. Following the sale, the insider owned 3,657,450 shares of the company's stock, valued at $138,324,759. This represents a 8.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,054,284 shares of company stock valued at $40,062,532 in the last 90 days. Insiders own 24.08% of the company's stock.

Institutional Trading of IMAX

Several institutional investors have recently modified their holdings of IMAX. AQR Capital Management LLC lifted its position in shares of IMAX by 47.9% during the 1st quarter. AQR Capital Management LLC now owns 56,348 shares of the company's stock worth $1,485,000 after buying an additional 18,238 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of IMAX by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,486 shares of the company's stock worth $672,000 after buying an additional 1,091 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of IMAX by 7.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 159,714 shares of the company's stock worth $4,208,000 after buying an additional 11,736 shares during the last quarter. Creative Planning raised its position in IMAX by 84.1% in the 2nd quarter. Creative Planning now owns 16,081 shares of the company's stock valued at $450,000 after purchasing an additional 7,344 shares during the last quarter. Finally, Norges Bank purchased a new stake in IMAX in the 2nd quarter valued at $709,000. Hedge funds and other institutional investors own 93.51% of the company's stock.

IMAX Stock Down 0.3%

Shares of IMAX stock opened at $37.02 on Wednesday. IMAX has a 52-week low of $22.54 and a 52-week high of $43.16. The company has a 50 day moving average of $38.22 and a 200 day moving average of $36.40. The company has a market capitalization of $2.04 billion, a P/E ratio of 59.70, a P/E/G ratio of 1.67 and a beta of 0.41.

IMAX (NYSE:IMAX - Get Free Report) last issued its quarterly earnings results on Wednesday, February 25th. The company reported $0.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.43 by $0.15. IMAX had a net margin of 8.50% and a return on equity of 13.53%. The company had revenue of $125.21 million during the quarter, compared to the consensus estimate of $120.30 million. During the same quarter in the previous year, the firm earned $0.27 earnings per share. The firm's quarterly revenue was up 35.1% on a year-over-year basis. As a group, research analysts anticipate that IMAX will post 1.33 earnings per share for the current fiscal year.

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.

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