IMAX’s (IMAX) “Outperform” Rating Reaffirmed at Wedbush

Wedbush reissued their outperform rating on shares of IMAX (NYSE:IMAX) in a report released on Thursday, Benzinga reports. Wedbush currently has a $22.00 price objective on the stock.

IMAX has been the topic of several other research reports. Benchmark reaffirmed a buy rating and issued a $22.00 price target on shares of IMAX in a research note on Tuesday. B. Riley decreased their price target on IMAX from $27.00 to $21.00 and set a buy rating on the stock in a research note on Tuesday, January 2nd. StockNews.com downgraded IMAX from a buy rating to a hold rating in a research report on Saturday, January 27th. Rosenblatt Securities cut their price objective on IMAX from $30.00 to $25.00 and set a buy rating for the company in a research report on Tuesday, February 13th. Finally, The Goldman Sachs Group cut their price objective on IMAX from $15.00 to $13.00 and set a sell rating for the company in a research report on Thursday, January 11th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $20.57.

IMAX Stock Performance

Shares of IMAX stock opened at $17.10 on Thursday. The stock’s 50 day simple moving average is $16.07 and its 200 day simple moving average is $16.16. IMAX has a twelve month low of $13.20 and a twelve month high of $21.82. The company has a market capitalization of $905.45 million, a price-to-earnings ratio of 37.17, a PEG ratio of 1.54 and a beta of 1.25.

IMAX (NYSE:IMAX) last issued its quarterly earnings data on Tuesday, February 27th. The company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.12. The business had revenue of $86.02 million for the quarter, compared to the consensus estimate of $85.83 million. IMAX had a return on equity of 9.59% and a net margin of 6.76%. The firm’s revenue was down 12.3% compared to the same quarter last year. During the same period last year, the business earned $0.05 EPS. On average, analysts forecast that IMAX will post 0.55 EPS for the current fiscal year.

Insider Transactions at IMAX

In other 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 transaction of $421,750.00. Following the completion of the sale, the vice president now owns 138,889 shares in the company, valued at $2,343,057.43. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 24.33% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On IMAX

A number of institutional investors and hedge funds have recently made changes to their positions in IMAX. Private Capital Management LLC increased its holdings in IMAX by 54.3% in the fourth quarter. Private Capital Management LLC now owns 1,185,715 shares of the company’s stock valued at $17,809,000 after purchasing an additional 417,169 shares during the last quarter. Partnership Wealth Management LLC increased its holdings in IMAX by 63.1% in the first quarter. Partnership Wealth Management LLC now owns 12,932 shares of the company’s stock valued at $209,000 after purchasing an additional 5,005 shares during the last quarter. Quadrature Capital Ltd increased its holdings in IMAX by 9.9% in the fourth quarter. Quadrature Capital Ltd now owns 60,867 shares of the company’s stock valued at $914,000 after purchasing an additional 5,470 shares during the last quarter. PNC Financial Services Group Inc. bought a new stake in IMAX in the fourth quarter valued at about $33,000. Finally, Price T Rowe Associates Inc. MD increased its holdings in IMAX by 8.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,929 shares of the company’s stock valued at $165,000 after purchasing an additional 806 shares during the last quarter. Institutional investors own 93.51% of the company’s stock.

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.