Benchmark Reaffirms "Buy" Rating for IMAX (NYSE:IMAX)

IMAX (NYSE:IMAX - Get Free Report)'s stock had its "buy" rating reiterated by investment analysts at Benchmark in a report issued on Thursday,Benzinga reports. They currently have a $30.00 price target on the stock. Benchmark's price target indicates a potential upside of 39.28% from the company's previous close.

IMAX has been the subject of several other research reports. StockNews.com lowered shares of IMAX from a "buy" rating to a "hold" rating in a research report on Thursday, March 27th. Rosenblatt Securities lifted their price target on shares of IMAX from $28.00 to $35.00 and gave the company a "buy" rating in a report on Thursday, February 20th. JPMorgan Chase & Co. raised their price target on IMAX from $25.00 to $27.00 and gave the company a "neutral" rating in a report on Friday, February 21st. Wedbush reaffirmed an "outperform" rating and issued a $32.00 price target on shares of IMAX in a report on Thursday, February 20th. Finally, Macquarie raised their price objective on shares of IMAX from $28.00 to $30.00 and gave the company an "outperform" rating in a research report on Thursday, February 20th. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $30.56.

IMAX Stock Down 0.5 %

Shares of IMAX stock traded down $0.10 during mid-day trading on Thursday, reaching $21.54. The stock had a trading volume of 342,236 shares, compared to its average volume of 868,093. IMAX has a one year low of $14.94 and a one year high of $27.77. The firm has a market cap of $1.14 billion, a PE ratio of 43.96, a P/E/G ratio of 1.49 and a beta of 0.91. The firm's 50 day simple moving average is $25.29 and its 200 day simple moving average is $24.18.

IMAX (NYSE:IMAX - Get Free Report) last issued its earnings results on Wednesday, February 19th. The company reported $0.17 EPS for the quarter, missing analysts' consensus estimates of $0.31 by ($0.14). IMAX had a net margin of 7.40% and a return on equity of 8.60%. The firm had revenue of $92.67 million during the quarter, compared to analyst estimates of $104.08 million. Sell-side analysts forecast that IMAX will post 0.91 earnings per share for the current fiscal year.

Institutional Investors Weigh In On IMAX

A number of institutional investors have recently made changes to their positions in the company. Principal Financial Group Inc. raised its stake in IMAX by 69.3% in the fourth quarter. Principal Financial Group Inc. now owns 103,946 shares of the company's stock valued at $2,661,000 after purchasing an additional 42,562 shares in the last quarter. Intech Investment Management LLC grew its holdings in shares of IMAX by 116.1% during the 4th quarter. Intech Investment Management LLC now owns 21,589 shares of the company's stock valued at $553,000 after purchasing an additional 11,597 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of IMAX in the 4th quarter valued at $9,143,000. Savant Capital LLC acquired a new stake in shares of IMAX during the fourth quarter valued at about $249,000. Finally, Lord Abbett & CO. LLC bought a new stake in IMAX during the 3rd quarter worth approximately $6,322,000. Institutional investors 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.