IMAX (NYSE:IMAX) Raised to “Strong-Buy” at B. Riley

B. Riley upgraded shares of IMAX (NYSE:IMAX) to a strong-buy rating in a research note published on Thursday morning,Zacks.com reports.

Other equities analysts have also issued reports about the company. JPMorgan Chase & Co. dropped their price target on IMAX from $27.00 to $26.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. Benchmark reissued a “buy” rating and set a $30.00 price target on shares of IMAX in a research note on Thursday, April 10th. Macquarie increased their price target on IMAX from $30.00 to $32.00 and gave the company an “outperform” rating in a research note on Friday, April 25th. Wells Fargo & Company dropped their price target 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, Wedbush reissued an “outperform” rating and set a $32.00 price target on shares of IMAX in a research note on Thursday, April 17th. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $31.22.

IMAX Stock Up 1.0%

NYSE IMAX opened at $27.20 on Thursday. The firm has a market cap of $1.46 billion, a price-to-earnings ratio of 55.50, a price-to-earnings-growth ratio of 1.49 and a beta of 0.79. The business has a 50-day moving average price of $24.66 and a 200-day moving average price of $24.80. IMAX has a twelve month low of $14.94 and a twelve month high of $27.77.

IMAX (NYSE:IMAX) last announced 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 company had revenue of $86.67 million during the quarter, compared to analyst estimates of $82.95 million. During the same period in the prior year, the company earned $0.15 earnings per share. The firm’s revenue 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.

Institutional Investors Weigh In On IMAX

Several institutional investors have recently modified their holdings of IMAX. Principal Financial Group Inc. raised its holdings in shares of IMAX by 69.3% in the fourth quarter. Principal Financial Group Inc. now owns 103,946 shares of the company’s stock worth $2,661,000 after buying an additional 42,562 shares during the period. Intech Investment Management LLC raised its holdings in shares of IMAX by 116.1% in the fourth quarter. Intech Investment Management LLC now owns 21,589 shares of the company’s stock worth $553,000 after buying an additional 11,597 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of IMAX in the fourth quarter worth approximately $9,143,000. Savant Capital LLC purchased a new stake in shares of IMAX in the fourth quarter worth approximately $249,000. Finally, Wells Fargo & Company MN raised its holdings in shares of IMAX by 45.4% in the fourth quarter. Wells Fargo & Company MN now owns 624,510 shares of the company’s stock worth $15,987,000 after buying an additional 194,917 shares during the period. 93.51% of the stock is owned by institutional investors.

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.