B. Riley Cuts IMAX (NYSE:IMAX) Price Target to $25.00

IMAX (NYSE:IMAXGet Rating) had its price objective lowered by B. Riley from $30.00 to $25.00 in a research report report published on Tuesday morning, The Fly reports. The brokerage currently has a buy rating on the stock.

Other equities research analysts have also issued reports about the company. Rosenblatt Securities assumed coverage on IMAX in a research report on Monday, May 23rd. They issued a buy rating and a $25.00 price target for the company. StockNews.com assumed coverage on IMAX in a research report on Thursday, March 31st. They issued a hold rating for the company. TheStreet lowered IMAX from a c rating to a d+ rating in a research report on Friday, April 29th. Barrington Research lowered their price objective on IMAX from $25.00 to $20.00 in a research report on Monday, May 2nd. Finally, Benchmark reiterated a buy rating and issued a $28.00 price objective on shares of IMAX in a research report on Thursday, February 24th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, IMAX has an average rating of Moderate Buy and a consensus target price of $24.13.

Shares of IMAX stock opened at $15.35 on Tuesday. The business has a 50 day simple moving average of $16.00 and a two-hundred day simple moving average of $17.58. IMAX has a 12 month low of $13.60 and a 12 month high of $23.26. The stock has a market capitalization of $898.31 million, a P/E ratio of -42.64, a PEG ratio of 5.28 and a beta of 1.46.

IMAX (NYSE:IMAXGet Rating) last announced its earnings results on Thursday, April 28th. The company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.08). IMAX had a negative net margin of 7.64% and a negative return on equity of 5.49%. The firm had revenue of $60.04 million for the quarter, compared to analyst estimates of $59.02 million. During the same period in the previous year, the company earned ($0.34) EPS. IMAX’s revenue was up 54.9% compared to the same quarter last year. As a group, equities analysts forecast that IMAX will post 0.14 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Invesco Ltd. raised its stake in shares of IMAX by 2.2% in the first quarter. Invesco Ltd. now owns 2,217,169 shares of the company’s stock valued at $41,971,000 after acquiring an additional 48,232 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of IMAX by 2.0% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,947,675 shares of the company’s stock valued at $36,869,000 after acquiring an additional 38,441 shares in the last quarter. Renaissance Technologies LLC raised its stake in IMAX by 10.1% in the fourth quarter. Renaissance Technologies LLC now owns 1,837,400 shares of the company’s stock valued at $32,779,000 after buying an additional 168,400 shares in the last quarter. Wellington Management Group LLP raised its stake in IMAX by 7.2% in the first quarter. Wellington Management Group LLP now owns 1,382,009 shares of the company’s stock valued at $26,162,000 after buying an additional 92,462 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in IMAX by 18.4% in the third quarter. Bank of New York Mellon Corp now owns 1,315,805 shares of the company’s stock valued at $24,974,000 after buying an additional 204,241 shares in the last quarter. Institutional investors and hedge funds own 91.17% of the company’s stock.

IMAX Company Profile (Get Rating)

IMAX Corporation, together with its subsidiaries, operates as an entertainment technology company worldwide. It offers cinematic solution through proprietary software, theater architecture, intellectual property, and specialized equipment. The company offers IMAX Digital Re-Mastering (DMR), a proprietary technology that digitally enhances the image resolution, visual clarity, and sound quality of motion picture films for projection on IMAX screens; IMAX theater systems to exhibitor customers through sales, leases, and joint revenue sharing arrangements; and digital projection systems.

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