IMAX Co. (NYSE:IMAX) Given Average Rating of “Moderate Buy” by Brokerages

Shares of IMAX Co. (NYSE:IMAX) have earned a consensus recommendation of “Moderate Buy” from the ten ratings firms that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, seven have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $24.22.

IMAX has been the subject of several recent analyst reports. StockNews.com cut shares of IMAX from a “buy” rating to a “hold” rating in a research note on Thursday. JPMorgan Chase & Co. lifted their price objective on IMAX from $20.00 to $21.00 and gave the company a “neutral” rating in a report on Monday, October 14th. Barrington Research reissued an “outperform” rating and set a $24.00 target price on shares of IMAX in a research note on Thursday, October 31st. Wedbush upped their price objective on IMAX from $24.00 to $26.00 and gave the stock an “outperform” rating in a report on Tuesday, September 3rd. Finally, Roth Mkm raised their target price on IMAX from $27.00 to $28.00 and gave the company a “buy” rating in a report on Thursday, October 31st.

IMAX Price Performance

Shares of NYSE:IMAX opened at $25.19 on Wednesday. IMAX has a 1 year low of $13.20 and a 1 year high of $25.51. The firm’s 50-day moving average is $21.77 and its two-hundred day moving average is $19.52. The firm has a market capitalization of $1.33 billion, a PE ratio of 57.25, a price-to-earnings-growth ratio of 1.62 and a beta of 1.22.

IMAX (NYSE:IMAX) last posted its earnings results on Wednesday, October 30th. The company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.12. The firm had revenue of $91.50 million for the quarter, compared to the consensus estimate of $93.71 million. IMAX had a net margin of 6.74% and a return on equity of 7.53%. The company’s revenue was down 11.9% on a year-over-year basis. During the same period last year, the firm posted $0.27 EPS. Analysts expect that IMAX will post 0.76 EPS for the current fiscal year.

Institutional Investors Weigh In On IMAX

Institutional investors have recently made changes to their positions in the company. Huntington National Bank bought a new stake in IMAX in the third quarter worth $34,000. Headlands Technologies LLC acquired a new stake in IMAX in the 2nd quarter worth approximately $35,000. Quarry LP raised its position in shares of IMAX by 78,333.3% in the third quarter. Quarry LP now owns 2,353 shares of the company’s stock valued at $48,000 after purchasing an additional 2,350 shares during the period. nVerses Capital LLC acquired a new stake in shares of IMAX in the third quarter worth $70,000. Finally, Summit Securities Group LLC acquired a new position in IMAX in the 2nd quarter valued at $80,000. 93.51% of the stock is currently owned by institutional investors and hedge funds.

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.