IMAX Co. (NYSE:IMAX) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of IMAX Co. (NYSE:IMAX) have been given an average recommendation of “Moderate Buy” by the seven ratings firms that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and five have given a buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $20.57.

Several brokerages have recently issued reports on IMAX. Wedbush reiterated an “outperform” rating and issued a $22.00 price objective on shares of IMAX in a research note on Friday. Rosenblatt Securities reaffirmed a “buy” rating and issued a $25.00 price objective on shares of IMAX in a report on Monday, June 17th. Benchmark reiterated a “buy” rating and set a $22.00 price target on shares of IMAX in a research report on Thursday. Finally, Barrington Research reiterated an “outperform” rating and issued a $24.00 price target on shares of IMAX in a report on Monday, April 22nd.

IMAX Stock Up 2.7 %

IMAX opened at $16.86 on Friday. IMAX has a 52 week low of $13.20 and a 52 week high of $20.70. The business has a fifty day simple moving average of $16.54 and a 200-day simple moving average of $15.78. The firm has a market cap of $887.26 million, a P/E ratio of 35.13, a P/E/G ratio of 1.38 and a beta of 1.21.

IMAX (NYSE:IMAX) last announced its quarterly earnings data on Thursday, April 25th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.05. The business had revenue of $79.12 million for the quarter, compared to analysts’ expectations of $77.88 million. IMAX had a return on equity of 9.47% and a net margin of 7.13%. Sell-side analysts expect that IMAX will post 0.6 earnings per share for the current year.

Insider Activity

In related news, EVP Calamera Pablo sold 6,130 shares of the company’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $17.05, for a total transaction of $104,516.50. Following the completion of the sale, the executive vice president now directly owns 42,269 shares of the company’s stock, valued at approximately $720,686.45. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 24.08% of the company’s stock.

Hedge Funds Weigh In On IMAX

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IMAX. Private Capital Management LLC boosted its position in IMAX by 54.3% in the 4th quarter. Private Capital Management LLC now owns 1,185,715 shares of the company’s stock valued at $17,809,000 after buying an additional 417,169 shares during the last quarter. Kodai Capital Management LP acquired a new stake in IMAX during the fourth quarter worth about $5,287,000. Acadian Asset Management LLC grew its position in IMAX by 178.7% in the 1st quarter. Acadian Asset Management LLC now owns 490,917 shares of the company’s stock worth $7,934,000 after purchasing an additional 314,742 shares during the last quarter. Pembroke Management LTD grew its position in IMAX by 52.2% in the 1st quarter. Pembroke Management LTD now owns 351,113 shares of the company’s stock worth $5,677,000 after purchasing an additional 120,495 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in shares of IMAX by 13.0% in the fourth quarter. Victory Capital Management Inc. now owns 825,319 shares of the company’s stock valued at $12,396,000 after acquiring an additional 95,182 shares in the last quarter. 93.51% of the stock is owned by hedge funds and other 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.