IMAX (NYSE:IMAX) Stock Rating Reaffirmed by Benchmark

IMAX (NYSE:IMAX)‘s stock had its “buy” rating restated by research analysts at Benchmark in a note issued to investors on Tuesday, Benzinga reports. They currently have a $22.00 target price on the stock. Benchmark’s target price points to a potential upside of 34.89% from the company’s previous close.

A number of other equities research analysts have also weighed in on the stock. Wedbush reiterated an “outperform” rating and set a $22.00 target price on shares of IMAX in a research note on Wednesday, April 10th. The Goldman Sachs Group dropped their target price on shares of IMAX from $15.00 to $13.00 and set a “sell” rating for the company in a report on Thursday, January 11th. Barrington Research reaffirmed an “outperform” rating and issued a $24.00 target price on shares of IMAX in a report on Wednesday, February 28th. StockNews.com cut shares of IMAX from a “buy” rating to a “hold” rating in a research note on Saturday, January 27th. Finally, JPMorgan Chase & Co. decreased their price target on shares of IMAX from $20.00 to $17.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 6th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $20.57.

IMAX Stock Down 0.1 %

Shares of IMAX stock traded down $0.02 during trading hours on Tuesday, hitting $16.31. 121,854 shares of the company’s stock traded hands, compared to its average volume of 814,940. The stock’s fifty day simple moving average is $15.87 and its two-hundred day simple moving average is $16.17. IMAX has a 12-month low of $13.20 and a 12-month high of $21.82. The stock has a market cap of $863.63 million, a price-to-earnings ratio of 35.24, a PEG ratio of 1.43 and a beta of 1.25.

IMAX (NYSE:IMAX) last released its earnings results on Tuesday, February 27th. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.12. IMAX had a net margin of 6.76% and a return on equity of 9.59%. The firm had revenue of $86.02 million during the quarter, compared to analyst estimates of $85.83 million. During the same period last year, the business earned $0.05 earnings per share. The business’s revenue was down 12.3% on a year-over-year basis. On average, equities analysts forecast that IMAX will post 0.58 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, VP Robert D. Lister sold 25,000 shares of the stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $16.87, for a total value of $421,750.00. Following the sale, the vice president now directly owns 138,889 shares of the company’s stock, 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.

Hedge Funds Weigh In On IMAX

A number of hedge funds have recently added to or reduced their stakes in the stock. Macquarie Group Ltd. boosted its stake in shares of IMAX by 16.8% during the first quarter. Macquarie Group Ltd. now owns 3,002,830 shares of the company’s stock valued at $57,594,000 after purchasing an additional 431,231 shares in the last quarter. Invesco Ltd. boosted its stake in shares of IMAX by 2.2% during the first quarter. Invesco Ltd. now owns 2,217,169 shares of the company’s stock valued at $41,971,000 after purchasing an additional 48,232 shares in the last quarter. Millennium Management LLC boosted its stake in shares of IMAX by 21.3% during the fourth quarter. Millennium Management LLC now owns 2,194,019 shares of the company’s stock valued at $32,164,000 after purchasing an additional 385,912 shares in the last quarter. Alliancebernstein L.P. boosted its stake in IMAX by 1.8% in the fourth quarter. Alliancebernstein L.P. now owns 2,018,885 shares of the company’s stock valued at $29,597,000 after acquiring an additional 36,620 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in IMAX by 6.8% in the first quarter. Dimensional Fund Advisors LP now owns 1,684,780 shares of the company’s stock valued at $32,313,000 after acquiring an additional 107,989 shares in the last quarter. 93.51% of the stock is currently owned by 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.