IMAX Co. (NYSE:IMAX) Receives Average Rating of "Buy" from Analysts

IMAX Co. (NYSE:IMAX - Get Free Report) has received an average rating of "Buy" from the ten ratings firms that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation, eight have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $30.67.

A number of research firms recently issued reports on IMAX. StockNews.com lowered shares of IMAX from a "buy" rating to a "hold" rating in a research note on Thursday. Barrington Research raised their price target on IMAX from $30.00 to $32.00 and gave the company an "outperform" rating in a research report on Thursday, February 20th. Wedbush reissued an "outperform" rating and set a $32.00 price objective on shares of IMAX in a research report on Thursday, February 20th. Wells Fargo & Company raised their target price on IMAX from $26.00 to $32.00 and gave the company an "overweight" rating in a report on Thursday, February 20th. Finally, JPMorgan Chase & Co. upped their price target on IMAX from $25.00 to $27.00 and gave the stock a "neutral" rating in a report on Friday, February 21st.

IMAX Trading Down 3.5 %

IMAX stock traded down $0.95 during midday trading on Tuesday, reaching $26.08. The company had a trading volume of 1,041,805 shares, compared to its average volume of 719,400. The company has a market capitalization of $1.38 billion, a P/E ratio of 53.23, a PEG ratio of 1.49 and a beta of 1.22. IMAX has a 1 year low of $14.94 and a 1 year high of $27.77. The company has a 50 day moving average of $25.23 and a two-hundred day moving average of $23.82.

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IMAX (NYSE:IMAX - Get Free Report) last issued its quarterly earnings data on Wednesday, February 19th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.14). The business had revenue of $92.67 million for the quarter, compared to the consensus estimate of $104.08 million. IMAX had a net margin of 7.40% and a return on equity of 8.60%. On average, sell-side analysts anticipate that IMAX will post 0.91 earnings per share for the current year.

Hedge Funds Weigh In On IMAX

A number of hedge funds have recently made changes to their positions in the business. Blue Trust Inc. increased its stake in IMAX by 138.5% in the fourth quarter. Blue Trust Inc. now owns 966 shares of the company's stock valued at $25,000 after acquiring an additional 561 shares during the period. Quarry LP boosted its holdings in IMAX by 78,333.3% during 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 in the last quarter. Tower Research Capital LLC TRC grew its stake in shares of IMAX by 415.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 7,236 shares of the company's stock valued at $185,000 after purchasing an additional 5,832 shares during the period. Wealthfront Advisers LLC acquired a new position in shares of IMAX in the 4th quarter worth approximately $217,000. Finally, Cornerstone Investment Partners LLC bought a new position in shares of IMAX during the 4th quarter worth approximately $248,000. 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.