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

Key Points

• IMAX has a consensus analyst rating of "Moderate Buy", with 10 of 12 analysts rating the stock a buy and an average 12-month price target of $48.00.
• The company recently beat earnings expectations, reporting $0.17 EPS versus the $0.15 estimate and revenue of $81.38 million for the quarter, though sales were still down 6.1% year over year.
• Recent news around The Odyssey breaking IMAX ticket-sale records suggests strong demand for premium IMAX screenings, helping support a positive near-term outlook for the stock.

IMAX Corporation (NYSE:IMAX - Get Free Report) has been assigned an average rating of "Moderate Buy" from the twelve ratings firms that are presently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $48.00.

IMAX has been the topic of a number of research reports. Benchmark boosted their target price on shares of IMAX from $44.00 to $60.00 and gave the stock a "buy" rating in a report on Friday, May 22nd. Keefe, Bruyette & Woods restated a "market perform" rating and set a $60.00 price target on shares of IMAX in a report on Friday, May 22nd. Barrington Research boosted their price target on shares of IMAX from $42.00 to $46.00 and gave the company an "outperform" rating in a report on Friday, May 1st. The Goldman Sachs Group boosted their price target on shares of IMAX from $37.00 to $41.00 and gave the company a "neutral" rating in a report on Monday, March 2nd. Finally, JPMorgan Chase & Co. cut their price target on shares of IMAX from $48.00 to $47.00 and set an "overweight" rating on the stock in a report on Friday, May 1st.

IMAX Price Performance

NYSE IMAX opened at $44.27 on Thursday. The company's 50 day simple moving average is $37.67 and its 200 day simple moving average is $37.41. IMAX has a 12 month low of $24.20 and a 12 month high of $45.09. The company has a market capitalization of $2.44 billion, a P/E ratio of 68.11, a PEG ratio of 1.55 and a beta of 0.37.

IMAX (NYSE:IMAX - Get Free Report) last released its earnings results on Thursday, April 30th. The company reported $0.17 EPS for the quarter, topping analysts' consensus estimates of $0.15 by $0.02. IMAX had a net margin of 9.08% and a return on equity of 13.61%. The business had revenue of $81.38 million for the quarter, compared to the consensus estimate of $79.82 million. During the same period in the previous year, the firm earned $0.13 EPS. The business's revenue for the quarter was down 6.1% on a year-over-year basis. On average, analysts anticipate that IMAX will post 1.34 earnings per share for the current year.

More IMAX News

Here are the key news stories impacting IMAX this week:

• Positive Sentiment: The Odyssey broke BFI IMAX ticket sales records, signaling strong demand for premium IMAX presentations and potentially boosting IMAX’s near-term outlook. The Odyssey Breaks BFI Imax Ticket Sales Records
• Positive Sentiment: Additional reports say The Odyssey smashed first-day BFI IMAX ticket records and set another major advance-sales milestone, adding to optimism about summer box-office momentum for IMAX screens. The Odyssey smashes BFI Imax records for first day ticket sales
• Positive Sentiment: Investor commentary highlighted IMAX stock near a record high as summer box-office strength builds, suggesting the market is rewarding improved theater demand and confidence in the company’s business model. IMAX stock near record high as summer box-office momentum builds
• Positive Sentiment: Analysts and entertainment coverage continue to emphasize the appeal of IMAX format content, including Nolan’s films, which supports the case for sustained consumer demand. 3 Big Reasons to Love IMAX (IMAX)
• Neutral Sentiment: Several articles explain how IMAX films reach theaters or compare IMAX with other premium formats; these are informative but not likely to materially move the stock on their own. The Odyssey director Christopher Nolan explains how an IMAX film reaches theaters
• Neutral Sentiment: Coverage noting that Spider-Man: Brand New Day will not get an IMAX release in some markets is mixed for IMAX overall, but the impact appears limited versus the stronger demand headlines for The Odyssey. Why Tom Holland's Spider-Man: Brand New Day isn't getting an IMAX release and what replaces it
• Negative Sentiment: Some reports indicate Spider-Man: Brand New Day will not be released in IMAX in India, which could slightly limit premium-screen content in that market. Spider-Man: Brand new day will not be released in IMAX in India; find out the reason here

Insider Activity

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 sale, the chief executive officer owned 765,002 shares in the company, valued at $28,557,524.66. The trade was a 1.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 365,064 shares of company stock worth $13,719,850 in the last quarter. 20.55% of the stock is owned by insiders.

Institutional Investors Weigh In On IMAX

A number of large investors have recently made changes to their positions in IMAX. CIBC Private Wealth Group LLC acquired a new stake in shares of IMAX during the third quarter valued at approximately $27,000. Quarry LP increased its stake in IMAX by 166.8% in the 4th quarter. Quarry LP now owns 875 shares of the company's stock valued at $32,000 after buying an additional 547 shares during the period. Jones Financial Companies Lllp increased its stake in IMAX by 43.8% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,041 shares of the company's stock valued at $34,000 after buying an additional 317 shares during the period. Clearstead Advisors LLC acquired a new position in IMAX in the 3rd quarter valued at approximately $35,000. Finally, Caitong International Asset Management Co. Ltd increased its stake in IMAX by 2,310.4% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 1,157 shares of the company's stock valued at $38,000 after buying an additional 1,109 shares during the period. Institutional investors and hedge funds own 93.51% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.