IMAX Co. (NYSE:IMAX) Given Average Rating of "Moderate Buy" by Brokerages

IMAX Co. (NYSE:IMAX - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the seven analysts that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $20.57.

Several research firms have weighed in on IMAX. StockNews.com lowered IMAX from a "buy" rating to a "hold" rating in a research report on Saturday, January 27th. Barrington Research reaffirmed an "outperform" rating and set a $24.00 price target on shares of IMAX in a research report on Wednesday, February 28th. JPMorgan Chase & Co. decreased their target price on IMAX from $20.00 to $17.00 and set a "neutral" rating on the stock in a report on Tuesday, February 6th. Wedbush reissued an "outperform" rating and set a $22.00 target price on shares of IMAX in a report on Monday, March 4th. Finally, Rosenblatt Securities decreased their target price on IMAX from $30.00 to $25.00 and set a "buy" rating on the stock in a report on Tuesday, February 13th.

Insider Activity at IMAX

In related news, VP Robert D. Lister sold 25,000 shares of the business's stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $16.87, for a total value of $421,750.00. Following the completion of the sale, the vice president now directly owns 138,889 shares in the company, valued at approximately $2,343,057.43. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 24.33% of the stock is currently owned by corporate insiders.

Institutional Trading of IMAX

Several institutional investors and hedge funds have recently modified their holdings of IMAX. PNC Financial Services Group Inc. acquired a new position in IMAX in the 4th quarter worth about $33,000. Tower Research Capital LLC TRC increased its holdings in IMAX by 164.8% in the 3rd quarter. Tower Research Capital LLC TRC now owns 3,260 shares of the company's stock worth $46,000 after purchasing an additional 2,029 shares in the last quarter. Point72 Hong Kong Ltd acquired a new position in IMAX in the 4th quarter worth about $65,000. SRS Capital Advisors Inc. increased its holdings in IMAX by 11.1% in the 1st quarter. SRS Capital Advisors Inc. now owns 6,492 shares of the company's stock worth $125,000 after purchasing an additional 650 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in IMAX in the 3rd quarter worth about $139,000. 93.51% of the stock is currently owned by institutional investors.

IMAX Stock Performance

IMAX stock traded up $0.40 during midday trading on Tuesday, reaching $16.62. The stock had a trading volume of 783,333 shares, compared to its average volume of 814,701. The firm's fifty day simple moving average is $15.64 and its 200-day simple moving average is $16.24. IMAX has a 1-year low of $13.20 and a 1-year high of $21.82. The stock has a market capitalization of $879.76 million, a P/E ratio of 36.12, a price-to-earnings-growth ratio of 1.39 and a beta of 1.25.

IMAX (NYSE:IMAX - Get Free Report) last posted its quarterly earnings results on Tuesday, February 27th. The company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.12. The firm had revenue of $86.02 million for the quarter, compared to analyst estimates of $85.83 million. IMAX had a return on equity of 9.59% and a net margin of 6.76%. The business's quarterly revenue was down 12.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.05 EPS. On average, sell-side analysts anticipate that IMAX will post 0.58 earnings per share for the current fiscal year.

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.