IMAX Co. (NYSE:IMAX) Receives $23.67 Average Price Target from Analysts

Shares of IMAX Co. (NYSE:IMAX) have earned a consensus recommendation of “Moderate Buy” from the ten analysts that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, seven have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $23.67.

Several research analysts recently weighed in on IMAX shares. Benchmark restated a “buy” rating and issued a $22.00 target price on shares of IMAX in a report on Thursday, June 20th. Macquarie upped their price objective on shares of IMAX from $24.00 to $26.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. B. Riley lifted their target price on shares of IMAX from $27.00 to $30.00 and gave the stock a “buy” rating in a research note on Monday, July 8th. Wedbush boosted their price target on IMAX from $24.00 to $26.00 and gave the company an “outperform” rating in a report on Tuesday, September 3rd. Finally, Roth Mkm raised their price objective on IMAX from $23.00 to $27.00 and gave the stock a “buy” rating in a report on Friday, July 26th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. purchased a new position in shares of IMAX in the 4th quarter worth about $33,000. Headlands Technologies LLC acquired a new stake in IMAX during the 2nd quarter worth approximately $35,000. Summit Securities Group LLC purchased a new position in IMAX in the second quarter valued at approximately $80,000. Laurus Investment Counsel Inc. acquired a new position in IMAX during the second quarter valued at approximately $150,000. Finally, XTX Topco Ltd purchased a new stake in IMAX during the second quarter worth approximately $208,000. Institutional investors and hedge funds own 93.51% of the company’s stock.

IMAX Stock Down 3.3 %

IMAX stock opened at $19.81 on Tuesday. The firm has a market capitalization of $1.04 billion, a PE ratio of 41.46, a P/E/G ratio of 1.38 and a beta of 1.25. The firm’s 50-day simple moving average is $20.56 and its 200 day simple moving average is $17.99. IMAX has a 52 week low of $13.20 and a 52 week high of $22.13.

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

About IMAX

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.