Shares of IMAX Corporation (NYSE:IMAX – Get Free Report) have been given an average rating of “Moderate Buy” by the thirteen brokerages that are currently covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $50.3636.
IMAX has been the subject of several analyst reports. Roth Capital upped their price objective on IMAX from $48.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. JPMorgan Chase & Co. upped their price target on IMAX from $47.00 to $50.00 and gave the company an “overweight” rating in a report on Friday, July 24th. B. Riley Financial raised their price objective on shares of IMAX from $48.00 to $52.00 and gave the stock a “buy” rating in a report on Monday, July 20th. Wall Street Zen upgraded shares of IMAX from a “hold” rating to a “buy” rating in a report on Saturday, July 25th. Finally, Seaport Research Partners reiterated a “buy” rating and set a $50.00 price target on shares of IMAX in a research note on Wednesday, June 24th.
Check Out Our Latest Analysis on IMAX
IMAX Trading Down 1.9%
IMAX (NYSE:IMAX – Get Free Report) last issued its earnings results on Thursday, July 23rd. The company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.13. The firm had revenue of $102.84 million during the quarter, compared to the consensus estimate of $96.09 million. IMAX had a net margin of 9.84% and a return on equity of 15.47%. The company’s revenue was up 12.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.26 earnings per share. On average, analysts predict that IMAX will post 1.44 earnings per share for the current fiscal year.
Institutional Trading of IMAX
A number of large investors have recently made changes to their positions in the company. CIBC Private Wealth Group LLC acquired a new position in IMAX in the third quarter valued at $27,000. Quarry LP grew its holdings in shares of IMAX by 166.8% during the fourth quarter. Quarry LP now owns 875 shares of the company’s stock worth $32,000 after buying an additional 547 shares during the last quarter. Torren Management LLC purchased a new position in shares of IMAX in the 4th quarter valued at approximately $40,000. Caitong International Asset Management Co. Ltd raised its stake in shares of IMAX by 2,310.4% during the third quarter. Caitong International Asset Management Co. Ltd now owns 1,157 shares of the company’s stock worth $38,000 after purchasing an additional 1,109 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd grew its position in IMAX by 863.0% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,666 shares of the company’s stock valued at $62,000 after buying an additional 1,493 shares during the last quarter. 93.51% of the stock is owned by institutional investors and hedge funds.
About IMAX
IMAX Corporation is a global leader in immersive entertainment technologies, specializing in the design, manufacture and distribution of high-resolution cameras, projectors, and proprietary software solutions that enhance both film production and theatrical exhibition. The company licenses its premium large-format system to theatre owners and filmmakers around the world, enabling audiences to experience movies with greater clarity, scale and sound fidelity. IMAX also offers turnkey theatre development services, assisting cinema operators with auditorium design, installation and custom branding to optimize the customer experience.
Founded in 1967 and headquartered in Mississauga, Ontario, IMAX has built a reputation for pioneering film-format innovations, including its patented dual 15-perforation, 70-millimeter projection system.
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