IMAX (NYSE:IMAX) Rating Reiterated 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 price objective on the stock. Benchmark’s price target points to a potential upside of 28.81% from the stock’s current price.

Several other equities analysts have also weighed in on the stock. The Goldman Sachs Group cut their price objective on shares of IMAX from $15.00 to $13.00 and set a “sell” rating on the stock in a research report on Thursday, January 11th. StockNews.com lowered shares of 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 objective on shares of IMAX in a research report on Wednesday, February 28th. Rosenblatt Securities cut their price objective on shares of IMAX from $30.00 to $25.00 and set a “buy” rating on the stock in a research report on Tuesday, February 13th. Finally, B. Riley lowered their price target on IMAX from $27.00 to $21.00 and set a “buy” rating on the stock in a report on Tuesday, January 2nd. One analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $20.57.

IMAX Price Performance

NYSE IMAX opened at $17.08 on Tuesday. The company has a 50 day simple moving average of $16.00 and a 200-day simple moving average of $16.16. The firm has a market capitalization of $904.39 million, a price-to-earnings ratio of 37.13, a price-to-earnings-growth ratio of 1.42 and a beta of 1.25. IMAX has a 52-week low of $13.20 and a 52-week high of $21.82.

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 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 net margin of 6.76% and a return on equity of 9.59%. The company’s revenue for the quarter was down 12.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.05 earnings per share. On average, analysts predict that IMAX will post 0.58 EPS for the current year.

Insider Transactions at IMAX

In other news, VP Robert D. Lister sold 25,000 shares of the firm’s stock in a transaction 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 sale, the vice president now owns 138,889 shares in the company, valued at $2,343,057.43. The sale 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

Several hedge funds and other institutional investors have recently modified their holdings of IMAX. Intrinsic Edge Capital Management LLC acquired a new stake in shares of IMAX in the first quarter worth $11,180,000. Norges Bank acquired a new stake in shares of IMAX in the fourth quarter worth $7,101,000. Macquarie Group Ltd. grew its stake in shares of IMAX by 16.8% in the first quarter. Macquarie Group Ltd. now owns 3,002,830 shares of the company’s stock worth $57,594,000 after acquiring an additional 431,231 shares during the last quarter. Private Capital Management LLC grew its stake in shares of IMAX by 54.3% in the fourth quarter. Private Capital Management LLC now owns 1,185,715 shares of the company’s stock worth $17,809,000 after acquiring an additional 417,169 shares during the last quarter. Finally, Millennium Management LLC lifted its position in IMAX by 21.3% in the fourth 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. Institutional investors and hedge funds 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.