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

IMAX Co. (NYSE:IMAX) has been given an average rating of “Buy” by the ten brokerages that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $30.56.

Several analysts have issued reports on IMAX shares. Macquarie upped their price objective on IMAX from $30.00 to $32.00 and gave the company an “outperform” rating in a research note on Friday, April 25th. Rosenblatt Securities reissued a “buy” rating and issued a $35.00 price objective on shares of IMAX in a report on Thursday, April 24th. Benchmark reaffirmed a “buy” rating and set a $30.00 price target on shares of IMAX in a research note on Thursday, April 10th. Wells Fargo & Company reduced their price objective on IMAX from $32.00 to $30.00 and set an “overweight” rating for the company in a research note on Thursday, April 24th. Finally, Barrington Research restated an “outperform” rating and issued a $32.00 target price on shares of IMAX in a report on Thursday, April 24th.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. FMR LLC raised its position in shares of IMAX by 14.2% during the 4th quarter. FMR LLC now owns 4,508,583 shares of the company’s stock valued at $115,420,000 after acquiring an additional 558,940 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of IMAX by 36.9% in the 4th quarter. Ameriprise Financial Inc. now owns 1,823,516 shares of the company’s stock valued at $46,671,000 after buying an additional 491,172 shares in the last quarter. Jupiter Asset Management Ltd. increased its position in shares of IMAX by 805.9% in the 1st quarter. Jupiter Asset Management Ltd. now owns 469,504 shares of the company’s stock valued at $12,371,000 after buying an additional 417,677 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of IMAX in the 4th quarter valued at $9,143,000. Finally, Pier Capital LLC increased its position in shares of IMAX by 132.6% in the 4th quarter. Pier Capital LLC now owns 478,760 shares of the company’s stock valued at $12,256,000 after buying an additional 272,949 shares in the last quarter. Institutional investors and hedge funds own 93.51% of the company’s stock.

IMAX Price Performance

Shares of NYSE IMAX opened at $26.16 on Wednesday. IMAX has a 1-year low of $14.94 and a 1-year high of $27.77. The business has a 50-day moving average of $24.54 and a 200-day moving average of $24.70. The company has a market capitalization of $1.41 billion, a price-to-earnings ratio of 53.39, a PEG ratio of 1.49 and a beta of 0.79.

IMAX (NYSE:IMAX) last issued its quarterly earnings results on Wednesday, April 23rd. The company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.02. IMAX had a return on equity of 8.60% and a net margin of 7.40%. The firm had revenue of $86.67 million during the quarter, compared to the consensus estimate of $82.95 million. During the same quarter in the prior year, the business posted $0.15 earnings per share. IMAX’s revenue for the quarter was up 9.6% on a year-over-year basis. Research analysts expect that IMAX will post 0.91 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.