IMAX (NYSE:IMAX) Receives Buy Rating from Benchmark

Benchmark reiterated their buy rating on shares of IMAX (NYSE:IMAX) in a report published on Tuesday, Benzinga reports. The brokerage currently has a $22.00 target price on the stock.

Other equities analysts also recently issued reports about the company. JPMorgan Chase & Co. decreased their target price on IMAX from $20.00 to $17.00 and set a neutral rating for the company in a research note on Tuesday, February 6th. Barrington Research restated an outperform rating and set a $24.00 price objective on shares of IMAX in a research note on Wednesday, February 28th. StockNews.com cut IMAX from a buy rating to a hold rating in a research note on Saturday, January 27th. Rosenblatt Securities lowered their price target on shares of IMAX from $30.00 to $25.00 and set a buy rating for the company in a research report on Tuesday, February 13th. Finally, B. Riley dropped their price objective on shares of IMAX from $27.00 to $21.00 and set a buy rating on the stock in a report on Tuesday, January 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $20.57.

IMAX Price Performance

Shares of IMAX stock opened at $17.14 on Tuesday. The firm has a fifty day moving average of $16.13 and a two-hundred day moving average of $16.14. The firm has a market cap of $907.30 million, a P/E ratio of 37.25, a P/E/G ratio of 1.55 and a beta of 1.25. IMAX has a 1-year low of $13.20 and a 1-year high of $21.82.

IMAX (NYSE:IMAX) last issued its quarterly earnings results 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 during 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 business’s quarterly revenue was down 12.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.05 EPS. On average, sell-side analysts expect that IMAX will post 0.55 EPS for the current year.

Insiders Place Their Bets

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

Institutional Investors Weigh In On IMAX

Several hedge funds have recently modified their holdings of the stock. Macquarie Group Ltd. raised its holdings in IMAX by 16.8% during the 1st quarter. Macquarie Group Ltd. now owns 3,002,830 shares of the company’s stock worth $57,594,000 after buying an additional 431,231 shares during the period. Invesco Ltd. lifted its position in shares of IMAX by 2.2% in the 1st quarter. Invesco Ltd. now owns 2,217,169 shares of the company’s stock valued at $41,971,000 after acquiring an additional 48,232 shares in the last quarter. Millennium Management LLC boosted its stake in IMAX by 21.3% in the 4th quarter. Millennium Management LLC now owns 2,194,019 shares of the company’s stock worth $32,164,000 after purchasing an additional 385,912 shares during the period. Alliancebernstein L.P. grew its position in IMAX by 1.8% during the 4th quarter. Alliancebernstein L.P. now owns 2,018,885 shares of the company’s stock worth $29,597,000 after purchasing an additional 36,620 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in IMAX by 6.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,684,780 shares of the company’s stock valued at $32,313,000 after purchasing an additional 107,989 shares during the period. 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.