IMAX Co. (NYSE:IMAX) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of IMAX Co. (NYSE:IMAX) have been given a consensus recommendation of “Moderate Buy” by the ten ratings firms that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation, seven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $23.67.

Several research firms have recently issued reports on IMAX. Rosenblatt Securities reissued a “buy” rating and set a $28.00 target price on shares of IMAX in a research note on Friday. Macquarie increased their price target on IMAX from $24.00 to $26.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Seaport Res Ptn upgraded IMAX to a “strong-buy” rating in a research report on Wednesday, July 24th. Wedbush increased their target price on IMAX from $24.00 to $26.00 and gave the company an “outperform” rating in a research report on Tuesday, September 3rd. Finally, Benchmark reissued a “buy” rating and issued a $22.00 price target on shares of IMAX in a report on Thursday, June 20th.

IMAX Trading Down 1.6 %

Shares of IMAX stock opened at $19.51 on Tuesday. IMAX has a twelve month low of $13.20 and a twelve month high of $22.13. The stock has a market cap of $1.03 billion, a P/E ratio of 40.65, a P/E/G ratio of 1.38 and a beta of 1.25. The stock has a 50 day moving average of $20.56 and a 200 day moving average of $18.03.

IMAX (NYSE:IMAX) last posted its earnings results on Thursday, July 25th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.11. The firm had revenue of $88.96 million during the quarter, compared to analysts’ expectations of $74.52 million. IMAX had a net margin of 5.97% and a return on equity of 7.78%. The business’s revenue was down 9.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.17 EPS. On average, research analysts predict that IMAX will post 0.69 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Headlands Technologies LLC purchased a new stake in shares of IMAX in the 2nd quarter valued at approximately $35,000. Price T Rowe Associates Inc. MD grew its stake in shares of IMAX by 19.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 13,082 shares of the company’s stock worth $212,000 after purchasing an additional 2,153 shares in the last quarter. PNC Financial Services Group Inc. purchased a new position in IMAX in the fourth quarter valued at $33,000. Summit Securities Group LLC acquired a new stake in IMAX in the second quarter valued at $80,000. Finally, Partnership Wealth Management LLC lifted its holdings in IMAX by 63.1% during the 1st quarter. Partnership Wealth Management LLC now owns 12,932 shares of the company’s stock worth $209,000 after buying an additional 5,005 shares during the last quarter. 93.51% of the stock is owned by institutional investors and hedge funds.

About IMAX

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.