IMAX Co. (NYSE:IMAX) Receives Average Rating of “Moderate Buy” from Analysts

Shares of IMAX Co. (NYSE:IMAX) have been given a consensus rating of “Moderate Buy” by the ten research firms that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $24.22.

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

Institutional Trading of IMAX

Institutional investors and hedge funds have recently bought and sold shares of the business. FMR LLC lifted its position in shares of IMAX by 108.4% during the 3rd quarter. FMR LLC now owns 3,949,643 shares of the company’s stock valued at $81,007,000 after buying an additional 2,054,031 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in IMAX by 33.1% during the 2nd quarter. Victory Capital Management Inc. now owns 1,293,221 shares of the company’s stock valued at $21,687,000 after acquiring an additional 321,506 shares during the period. Bank of New York Mellon Corp increased its stake in IMAX by 90.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 587,694 shares of the company’s stock worth $9,856,000 after buying an additional 279,410 shares during the period. Castleark Management LLC acquired a new position in shares of IMAX during the third quarter worth about $5,199,000. Finally, Pier Capital LLC acquired a new stake in shares of IMAX in the 3rd quarter valued at $4,221,000. 93.51% of the stock is currently owned by institutional investors and hedge funds.

IMAX Trading Up 1.9 %

Shares of IMAX stock opened at $25.19 on Wednesday. IMAX has a 12 month low of $13.20 and a 12 month high of $25.51. The company has a market capitalization of $1.33 billion, a PE ratio of 57.25, a PEG ratio of 1.62 and a beta of 1.22. The stock’s fifty day simple moving average is $21.77 and its 200 day simple moving average is $19.52.

IMAX (NYSE:IMAX) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.35 earnings per share (EPS) 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 analysts’ expectations of $93.71 million. IMAX had a return on equity of 7.53% and a net margin of 6.74%. The business’s revenue was down 11.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.27 EPS. Analysts predict that IMAX will post 0.76 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.