B. Riley Initiates Coverage on IMAX (NYSE:IMAX)

B. Riley began coverage on shares of IMAX (NYSE:IMAX) in a research note published on Friday morning. The brokerage issued a buy rating and a $36.00 price objective on the stock.

Several other brokerages have also commented on IMAX. Rosenblatt Securities reissued a “buy” rating and set a $35.00 price objective on shares of IMAX in a research report on Thursday, April 24th. Barrington Research restated an “outperform” rating and set a $32.00 price target on shares of IMAX in a report on Thursday, April 24th. JPMorgan Chase & Co. reduced their price target on IMAX from $27.00 to $26.00 and set a “neutral” rating for the company in a report on Friday, April 11th. Wedbush restated an “outperform” rating and set a $32.00 price target on shares of IMAX in a report on Thursday, April 17th. Finally, Macquarie raised their price target on IMAX from $30.00 to $32.00 and gave the company an “outperform” rating in a report on Friday, April 25th. One research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $31.22.

IMAX Trading Up 1.0%

Shares of IMAX stock opened at $27.20 on Friday. The firm has a market capitalization of $1.46 billion, a P/E ratio of 55.50, a P/E/G ratio of 1.49 and a beta of 0.79. The business has a fifty day simple moving average of $24.66 and a two-hundred day simple moving average of $24.80. IMAX has a 12 month low of $14.94 and a 12 month high of $27.77.

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

Institutional Investors Weigh In On IMAX

Several large investors have recently bought and sold shares of the business. Janney Montgomery Scott LLC increased its holdings in IMAX by 1.9% in the 4th quarter. Janney Montgomery Scott LLC now owns 29,176 shares of the company’s stock worth $747,000 after buying an additional 533 shares in the last quarter. Neuberger Berman Group LLC increased its holdings in IMAX by 4.1% in the 1st quarter. Neuberger Berman Group LLC now owns 13,838 shares of the company’s stock worth $365,000 after buying an additional 542 shares in the last quarter. Blue Trust Inc. increased its holdings in IMAX by 138.5% in the 4th quarter. Blue Trust Inc. now owns 966 shares of the company’s stock worth $25,000 after buying an additional 561 shares in the last quarter. Mission Wealth Management LP increased its holdings in IMAX by 2.9% in the 1st quarter. Mission Wealth Management LP now owns 30,408 shares of the company’s stock worth $801,000 after buying an additional 845 shares in the last quarter. Finally, MetLife Investment Management LLC increased its holdings in IMAX by 3.4% in the 4th quarter. MetLife Investment Management LLC now owns 25,918 shares of the company’s stock worth $664,000 after buying an additional 848 shares in the last quarter. 93.51% of the stock is currently 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.