IMAX Co. (NYSE:IMAX) Given Consensus Rating of “Moderate Buy” by Analysts

IMAX Co. (NYSE:IMAX) has received an average rating of “Moderate Buy” from the ten brokerages that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, seven have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $24.22.

A number of research analysts have weighed in on the stock. Wedbush boosted their price objective on shares of IMAX from $24.00 to $26.00 and gave the company an “outperform” rating in a research report on Tuesday, September 3rd. Barrington Research reissued an “outperform” rating and issued a $24.00 price objective on shares of IMAX in a research report on Thursday, October 31st. JPMorgan Chase & Co. raised their price objective on shares of IMAX from $20.00 to $21.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. StockNews.com cut IMAX from a “buy” rating to a “hold” rating in a research note on Thursday, November 21st. Finally, Rosenblatt Securities reissued a “buy” rating and set a $28.00 price target on shares of IMAX in a research note on Thursday, October 31st.

Institutional Investors Weigh In On IMAX

A number of institutional investors and hedge funds have recently bought and sold shares of the company. US Bancorp DE increased its stake in shares of IMAX by 23.4% during the third quarter. US Bancorp DE now owns 7,656 shares of the company’s stock valued at $157,000 after buying an additional 1,452 shares during the period. Huntington National Bank purchased a new stake in IMAX in the third quarter worth about $34,000. Headlands Technologies LLC bought a new position in IMAX during the 2nd quarter worth about $35,000. Price T Rowe Associates Inc. MD increased its position in IMAX by 19.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,082 shares of the company’s stock valued at $212,000 after purchasing an additional 2,153 shares during the period. Finally, Quarry LP raised its holdings in shares of IMAX by 78,333.3% in the 3rd quarter. Quarry LP now owns 2,353 shares of the company’s stock valued at $48,000 after purchasing an additional 2,350 shares in the last quarter. 93.51% of the stock is owned by institutional investors.

IMAX Trading Down 0.1 %

Shares of NYSE IMAX opened at $25.24 on Wednesday. The stock has a market capitalization of $1.33 billion, a price-to-earnings ratio of 57.48, a P/E/G ratio of 1.61 and a beta of 1.22. IMAX has a 12-month low of $13.20 and a 12-month high of $25.78. The firm’s 50-day moving average price is $21.86 and its 200-day moving average price is $19.59.

IMAX (NYSE:IMAX) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.12. The business had revenue of $91.50 million during the quarter, compared to analyst estimates of $93.71 million. IMAX had a return on equity of 7.53% and a net margin of 6.74%. The company’s revenue for the quarter was down 11.9% on a year-over-year basis. During the same period last year, the company earned $0.27 EPS. On average, equities analysts predict that IMAX will post 0.78 EPS for the current fiscal year.

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.