IMAX Co. (NYSE:IMAX) Given Average Recommendation of “Moderate Buy” by Analysts

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

A number of brokerages recently weighed in on IMAX. Macquarie boosted their price objective on shares of IMAX from $24.00 to $26.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Rosenblatt Securities reaffirmed a “buy” rating and set a $28.00 price objective on shares of IMAX in a research report on Thursday, October 31st. Wedbush boosted their target price on IMAX from $24.00 to $26.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 3rd. Seaport Res Ptn raised shares of IMAX to a “strong-buy” rating in a report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. increased their price objective on shares of IMAX from $20.00 to $21.00 and gave the company a “neutral” rating in a research report on Monday, October 14th.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in IMAX. State Board of Administration of Florida Retirement System lifted its holdings in IMAX by 63.2% during the first quarter. State Board of Administration of Florida Retirement System now owns 20,924 shares of the company’s stock valued at $338,000 after purchasing an additional 8,100 shares in the last quarter. Vanguard Group Inc. boosted its holdings in IMAX by 13.2% in the 1st quarter. Vanguard Group Inc. now owns 584,795 shares of the company’s stock worth $9,456,000 after buying an additional 68,155 shares during the period. Keeley Teton Advisors LLC increased its stake in IMAX by 16.3% in the 1st quarter. Keeley Teton Advisors LLC now owns 58,605 shares of the company’s stock worth $948,000 after buying an additional 8,205 shares in the last quarter. PEAK6 Investments LLC bought a new stake in IMAX during the first quarter valued at about $210,000. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of IMAX by 19.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 13,082 shares of the company’s stock valued at $212,000 after acquiring an additional 2,153 shares in the last quarter. 93.51% of the stock is currently owned by institutional investors.

IMAX Stock Up 2.3 %

IMAX stock opened at $24.90 on Wednesday. The stock’s 50 day moving average is $21.52 and its 200 day moving average is $19.35. The company has a market capitalization of $1.31 billion, a P/E ratio of 56.59, a PEG ratio of 1.59 and a beta of 1.22. IMAX has a twelve month low of $13.20 and a twelve month high of $25.28.

IMAX (NYSE:IMAX) last announced its quarterly earnings results 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 net margin of 6.74% and a return on equity of 7.53%. IMAX’s revenue was down 11.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.27 EPS. As a group, equities analysts expect that IMAX will post 0.76 EPS for the current 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.