IMAX Corporation (NYSE:IMAX) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of IMAX Corporation (NYSE:IMAX) have earned an average recommendation of “Moderate Buy” from the thirteen ratings firms that are currently covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $50.3636.

A number of brokerages have recently commented on IMAX. Seaport Research Partners reiterated a “buy” rating and set a $50.00 price target on shares of IMAX in a report on Wednesday, June 24th. B. Riley Financial raised their price objective on IMAX from $48.00 to $52.00 and gave the stock a “buy” rating in a report on Monday, July 20th. JPMorgan Chase & Co. lifted their price objective on IMAX from $47.00 to $50.00 and gave the company an “overweight” rating in a research report on Friday, July 24th. Benchmark restated a “buy” rating on shares of IMAX in a report on Monday, June 22nd. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $47.00 price objective on shares of IMAX in a research note on Monday, July 20th.

Institutional Trading of IMAX

A number of hedge funds and other institutional investors have recently modified their holdings of IMAX. Caitong International Asset Management Co. Ltd raised its stake in shares of IMAX by 28.7% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,489 shares of the company’s stock valued at $55,000 after purchasing an additional 332 shares in the last quarter. ProShare Advisors LLC raised its stake in IMAX by 6.8% during the fourth quarter. ProShare Advisors LLC now owns 8,000 shares of the company’s stock valued at $296,000 after buying an additional 511 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in IMAX by 0.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 108,781 shares of the company’s stock worth $4,021,000 after buying an additional 546 shares during the last quarter. Quarry LP grew its position in shares of IMAX by 166.8% in the 4th quarter. Quarry LP now owns 875 shares of the company’s stock worth $32,000 after acquiring an additional 547 shares in the last quarter. Finally, State of Wyoming increased its holdings in shares of IMAX by 7.6% in the 1st quarter. State of Wyoming now owns 7,910 shares of the company’s stock valued at $301,000 after acquiring an additional 562 shares during the last quarter. 93.51% of the stock is owned by hedge funds and other institutional investors.

IMAX Price Performance

Shares of IMAX stock opened at $49.64 on Friday. The firm has a market capitalization of $2.72 billion, a PE ratio of 68.95, a P/E/G ratio of 1.67 and a beta of 0.38. IMAX has a 1-year low of $24.20 and a 1-year high of $51.60. The business’s fifty day moving average price is $42.12 and its 200 day moving average price is $38.91.

IMAX (NYSE:IMAX) last announced its quarterly earnings results on Thursday, July 23rd. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.13. IMAX had a net margin of 9.84% and a return on equity of 15.47%. The business had revenue of $102.84 million during the quarter, compared to the consensus estimate of $96.09 million. During the same quarter last year, the firm posted $0.26 EPS. The business’s revenue was up 12.2% compared to the same quarter last year. Equities research analysts expect that IMAX will post 1.44 earnings per share for the current fiscal year.

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.