Recent Research Analysts’ Ratings Updates for IMAX (IMAX)

IMAX (NYSE: IMAX) has recently received a number of price target changes and ratings updates:

• 12/13/2024 – IMAX had its price target raised by analysts at Benchmark Co. from $27.00 to $30.00. They now have a “buy” rating on the stock.
• 12/10/2024 – IMAX was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
• 11/29/2024 – IMAX was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
• 11/27/2024 – IMAX had its “outperform” rating reaffirmed by analysts at Wedbush.
• 11/21/2024 – IMAX was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
• 11/7/2024 – IMAX was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 10/31/2024 – IMAX had its “outperform” rating reaffirmed by analysts at Barrington Research. They now have a $24.00 price target on the stock.
• 10/31/2024 – IMAX had its price target raised by analysts at Roth Mkm from $27.00 to $28.00. They now have a “buy” rating on the stock.
• 10/31/2024 – IMAX had its “buy” rating reaffirmed by analysts at Rosenblatt Securities. They now have a $28.00 price target on the stock.
• 10/14/2024 – IMAX had its price target raised by analysts at JPMorgan Chase & Co. from $20.00 to $21.00. They now have a “neutral” rating on the stock.

IMAX Trading Up 0.7 %

NYSE IMAX traded up $0.19 during mid-day trading on Friday, hitting $26.05. The company’s stock had a trading volume of 129,161 shares, compared to its average volume of 747,686. The company’s 50 day simple moving average is $23.39 and its 200 day simple moving average is $20.36. IMAX Co. has a twelve month low of $13.20 and a twelve month high of $26.84. The firm has a market capitalization of $1.37 billion, a price-to-earnings ratio of 59.20, a PEG ratio of 1.69 and a beta of 1.23.

IMAX (NYSE:IMAX) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.12. The company had revenue of $91.50 million for the quarter, compared to the consensus estimate of $93.71 million. IMAX had a net margin of 6.74% and a return on equity of 7.53%. The firm’s quarterly revenue was down 11.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.27 EPS. As a group, research analysts forecast that IMAX Co. will post 0.77 EPS for the current year.

Insider Activity

In related news, insider Kenneth Ian Weissman sold 6,309 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $25.51, for a total value of $160,942.59. Following the transaction, the insider now directly owns 25,139 shares in the company, valued at approximately $641,295.89. This represents a 20.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Natasha Fernandes sold 2,957 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $25.52, for a total transaction of $75,462.64. Following the completion of the transaction, the chief financial officer now owns 14,883 shares in the company, valued at approximately $379,814.16. This trade represents a 16.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 65,176 shares of company stock worth $1,662,110 over the last ninety days. Company insiders own 24.08% of the company’s stock.

Institutional Trading of IMAX

A number of institutional investors have recently made changes to their positions in IMAX. FMR LLC raised its holdings in IMAX by 108.4% in the third quarter. FMR LLC now owns 3,949,643 shares of the company’s stock worth $81,007,000 after purchasing an additional 2,054,031 shares in the last quarter. Victory Capital Management Inc. raised its holdings in IMAX by 33.1% in the second quarter. Victory Capital Management Inc. now owns 1,293,221 shares of the company’s stock worth $21,687,000 after purchasing an additional 321,506 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of IMAX by 90.6% during the second quarter. Bank of New York Mellon Corp now owns 587,694 shares of the company’s stock valued at $9,856,000 after acquiring an additional 279,410 shares in the last quarter. Castleark Management LLC bought a new position in shares of IMAX during the third quarter valued at $5,199,000. Finally, Pier Capital LLC purchased a new position in shares of IMAX in the 3rd quarter worth about $4,221,000. Hedge funds and other institutional investors own 93.51% of the company’s stock.

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.