IMAX (NYSE:IMAX) Rating Reiterated by Rosenblatt Securities

IMAX (NYSE:IMAX)‘s stock had its “buy” rating reissued by stock analysts at Rosenblatt Securities in a report released on Friday, Benzinga reports. They presently have a $28.00 price objective on the stock. Rosenblatt Securities’ target price indicates a potential upside of 40.92% from the stock’s previous close.

A number of other brokerages have also issued reports on IMAX. Barrington Research reiterated an “outperform” rating and issued a $24.00 target price on shares of IMAX in a research report on Wednesday, September 25th. Roth Mkm lifted their price objective on IMAX from $23.00 to $27.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Macquarie raised their price target on shares of IMAX from $24.00 to $26.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Benchmark reiterated a “buy” rating and issued a $22.00 target price on shares of IMAX in a research report on Thursday, June 20th. Finally, Wedbush upped their price target on IMAX from $24.00 to $26.00 and gave the stock an “outperform” rating in a report on Tuesday, September 3rd. One research analyst has rated the stock with a sell rating, two have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.67.

IMAX Stock Up 0.3 %

Shares of IMAX stock traded up $0.05 during trading on Friday, reaching $19.87. The company’s stock had a trading volume of 59,213 shares, compared to its average volume of 778,245. The company has a 50-day simple moving average of $20.57 and a two-hundred day simple moving average of $18.00. The company has a market cap of $1.05 billion, a price-to-earnings ratio of 41.50, a P/E/G ratio of 1.38 and a beta of 1.25. IMAX has a 1-year low of $13.20 and a 1-year high of $22.13.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Headlands Technologies LLC bought a new stake in shares of IMAX in the 2nd quarter valued at $35,000. Price T Rowe Associates Inc. MD boosted its position in IMAX by 19.7% in 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 during the last quarter. PNC Financial Services Group Inc. bought a new stake in IMAX during the 4th quarter valued at approximately $33,000. Summit Securities Group LLC purchased a new position in IMAX during the 2nd quarter valued at $80,000. Finally, Partnership Wealth Management LLC raised its position in shares of IMAX by 63.1% in the 1st quarter. Partnership Wealth Management LLC now owns 12,932 shares of the company’s stock worth $209,000 after acquiring an additional 5,005 shares in the last quarter. Institutional investors and hedge funds own 93.51% of the company’s stock.

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.