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

IMAX Co. (NYSE:IMAX) has received a consensus rating of “Buy” from the ten research firms that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation, eight have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $30.56.

IMAX has been the subject of a number of research analyst reports. Wedbush reiterated an “outperform” rating and set a $32.00 price target on shares of IMAX in a report on Thursday, April 17th. Wells Fargo & Company reduced their price target on IMAX from $32.00 to $30.00 and set an “overweight” rating for the company in a report on Thursday, April 24th. StockNews.com cut IMAX from a “buy” rating to a “hold” rating in a report on Thursday, May 8th. Benchmark restated a “buy” rating and set a $30.00 price objective on shares of IMAX in a report on Thursday, April 10th. Finally, JPMorgan Chase & Co. dropped their price target on shares of IMAX from $27.00 to $26.00 and set a “neutral” rating for the company in a research report on Friday, April 11th.

Institutional Investors Weigh In On IMAX

Several large investors have recently modified their holdings of the stock. Principal Financial Group Inc. grew its stake in IMAX by 69.3% in the 4th quarter. Principal Financial Group Inc. now owns 103,946 shares of the company’s stock valued at $2,661,000 after buying an additional 42,562 shares in the last quarter. Intech Investment Management LLC grew its stake in IMAX by 116.1% in the 4th quarter. Intech Investment Management LLC now owns 21,589 shares of the company’s stock valued at $553,000 after buying an additional 11,597 shares in the last quarter. Raymond James Financial Inc. purchased a new position in IMAX in the 4th quarter valued at approximately $9,143,000. Savant Capital LLC purchased a new position in IMAX in the 4th quarter valued at approximately $249,000. Finally, Wells Fargo & Company MN grew its stake in IMAX by 45.4% in the 4th quarter. Wells Fargo & Company MN now owns 624,510 shares of the company’s stock valued at $15,987,000 after buying an additional 194,917 shares in the last quarter. Hedge funds and other institutional investors own 93.51% of the company’s stock.

IMAX Price Performance

IMAX opened at $26.16 on Wednesday. The business’s 50-day moving average price is $24.54 and its two-hundred day moving average price is $24.70. IMAX has a 1 year low of $14.94 and a 1 year high of $27.77. The company has a market capitalization of $1.41 billion, a price-to-earnings ratio of 53.39, a P/E/G ratio of 1.49 and a beta of 0.79.

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