IMAX (NYSE:IMAX) Cut to Hold at StockNews.com

StockNews.com downgraded shares of IMAX (NYSE:IMAX) from a buy rating to a hold rating in a research report report published on Friday morning.

Several other research analysts also recently issued reports on IMAX. Barrington Research restated an “outperform” rating and set a $24.00 price objective on shares of IMAX in a report on Thursday, October 31st. Roth Mkm upped their price target on IMAX from $27.00 to $28.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Rosenblatt Securities reissued a “buy” rating and set a $28.00 price objective on shares of IMAX in a report on Thursday, October 31st. JPMorgan Chase & Co. boosted their price objective on IMAX from $20.00 to $21.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. Finally, Wedbush reiterated an “outperform” rating on shares of IMAX in a research note on Wednesday, November 27th. One analyst has rated the stock with a sell rating, two have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, IMAX presently has an average rating of “Moderate Buy” and a consensus price target of $24.22.

IMAX Stock Performance

NYSE IMAX opened at $26.32 on Friday. The stock has a 50-day simple moving average of $22.31 and a 200 day simple moving average of $19.81. IMAX has a twelve month low of $13.20 and a twelve month high of $26.54. The stock has a market capitalization of $1.39 billion, a PE ratio of 59.82, a P/E/G ratio of 1.68 and a beta of 1.22.

IMAX (NYSE:IMAX) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.12. IMAX had a return on equity of 7.53% and a net margin of 6.74%. The company had revenue of $91.50 million during the quarter, compared to analyst estimates of $93.71 million. During the same period in the previous year, the company earned $0.27 earnings per share. The company’s quarterly revenue was down 11.9% compared to the same quarter last year. As a group, equities research analysts forecast that IMAX will post 0.77 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of IMAX. US Bancorp DE increased its holdings in IMAX by 23.4% during the 3rd quarter. US Bancorp DE now owns 7,656 shares of the company’s stock valued at $157,000 after purchasing an additional 1,452 shares in the last quarter. Huntington National Bank acquired a new stake in shares of IMAX in the third quarter valued at $34,000. Headlands Technologies LLC bought a new position in shares of IMAX in the second quarter valued at about $35,000. Price T Rowe Associates Inc. MD lifted 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 worth $212,000 after buying an additional 2,153 shares in the last quarter. Finally, Quarry LP grew its holdings in IMAX by 78,333.3% during the 3rd quarter. Quarry LP now owns 2,353 shares of the company’s stock worth $48,000 after acquiring an additional 2,350 shares during the last quarter. 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.