Brokerages Set IMAX Co. (NYSE:IMAX) PT at $24.22

Shares of IMAX Co. (NYSE:IMAX - Get Free Report) have been given an average rating of "Moderate Buy" by the ten research firms that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $24.22.

Several equities analysts have recently issued reports on IMAX shares. Macquarie upped their target price on IMAX from $24.00 to $26.00 and gave the company an "outperform" rating in a report on Friday, July 26th. Barrington Research reaffirmed an "outperform" rating and set a $24.00 target price on shares of IMAX in a research report on Thursday, October 31st. Rosenblatt Securities restated a "buy" rating and set a $28.00 price target on shares of IMAX in a research report on Thursday, October 31st. StockNews.com upgraded shares of IMAX from a "hold" rating to a "buy" rating in a report on Thursday, November 7th. Finally, Roth Mkm boosted their target price on shares of IMAX from $27.00 to $28.00 and gave the company a "buy" rating in a research note on Thursday, October 31st.

Institutional Trading of IMAX

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Huntington National Bank purchased a new position in IMAX during the 3rd quarter valued at about $34,000. Headlands Technologies LLC bought a new position in shares of IMAX in the second quarter valued at approximately $35,000. Quarry LP grew its stake 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 acquiring an additional 2,350 shares in the last quarter. nVerses Capital LLC bought a new stake in IMAX during the 3rd quarter worth approximately $70,000. Finally, Summit Securities Group LLC bought a new stake in IMAX during the 2nd quarter worth approximately $80,000. 93.51% of the stock is currently owned by institutional investors.

IMAX Trading Up 0.3 %

Shares of NYSE:IMAX traded up $0.07 during mid-day trading on Wednesday, hitting $24.97. 123,691 shares of the company traded hands, compared to its average volume of 761,159. The stock has a 50-day moving average price of $21.52 and a two-hundred day moving average price of $19.35. IMAX has a 12-month low of $13.20 and a 12-month high of $25.28. The stock has a market cap of $1.32 billion, a P/E ratio of 56.59, a P/E/G ratio of 1.59 and a beta of 1.22.

IMAX (NYSE:IMAX - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.35 earnings per share (EPS) for the quarter, topping 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 business's revenue for the quarter was down 11.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.27 EPS. As a group, analysts expect that IMAX will post 0.76 earnings per share for the current year.

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.