IMAX (NYSE:IMAX) Earns “Buy” Rating from Roth Mkm

Roth Mkm reissued their buy rating on shares of IMAX (NYSE:IMAX) in a research note issued to investors on Thursday morning, Benzinga reports. Roth Mkm currently has a $27.00 target price on the stock.

Several other analysts also recently commented on the stock. Macquarie upped their price target on shares of IMAX from $24.00 to $26.00 and gave the company an outperform rating in a research report on Friday, July 26th. Barrington Research reiterated an outperform rating and set a $24.00 target price on shares of IMAX in a research note on Wednesday, September 25th. Benchmark restated a buy rating and issued a $22.00 price target on shares of IMAX in a research report on Thursday, June 20th. B. Riley increased their price objective on IMAX from $27.00 to $30.00 and gave the stock a buy rating in a research report on Monday, July 8th. Finally, Wedbush boosted their target price on IMAX from $24.00 to $26.00 and gave the company an outperform rating in a report on Tuesday, September 3rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, IMAX has a consensus rating of Moderate Buy and a consensus target price of $23.67.

IMAX Price Performance

NYSE IMAX opened at $21.69 on Thursday. The company has a fifty day moving average of $20.48 and a two-hundred day moving average of $18.19. The company has a market capitalization of $1.14 billion, a PE ratio of 54.23, a P/E/G ratio of 1.41 and a beta of 1.25. IMAX has a 1 year low of $13.20 and a 1 year high of $22.13.

IMAX (NYSE:IMAX) last announced its earnings results on Thursday, July 25th. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.11. The firm had revenue of $88.96 million during the quarter, compared to analysts’ expectations of $74.52 million. IMAX had a return on equity of 7.78% and a net margin of 5.97%. The business’s revenue was down 9.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.17 EPS. On average, research analysts expect that IMAX will post 0.69 earnings per share for the current year.

Hedge Funds Weigh In On IMAX

A number of large investors have recently made changes to their positions in IMAX. Vanguard Group Inc. raised its holdings in IMAX by 13.2% during the first quarter. Vanguard Group Inc. now owns 584,795 shares of the company’s stock worth $9,456,000 after purchasing an additional 68,155 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in shares of IMAX in the 1st quarter worth about $1,070,000. Acadian Asset Management LLC grew its stake in IMAX by 178.7% in the 1st quarter. Acadian Asset Management LLC now owns 490,917 shares of the company’s stock valued at $7,934,000 after acquiring an additional 314,742 shares during the last quarter. Principal Financial Group Inc. purchased a new position in IMAX during the 1st quarter valued at about $871,000. Finally, Victory Capital Management Inc. raised its position in IMAX by 33.1% during the second quarter. Victory Capital Management Inc. now owns 1,293,221 shares of the company’s stock worth $21,687,000 after acquiring an additional 321,506 shares during the last quarter. Hedge funds and other 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.