IMAX (NYSE:IMAX - Get Free Report) had its price target decreased by JPMorgan Chase & Co. from $27.00 to $26.00 in a report released on Friday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s price objective points to a potential upside of 20.31% from the company's current price.
Several other research firms also recently weighed in on IMAX. Macquarie upped their price target on IMAX from $28.00 to $30.00 and gave the stock an "outperform" rating in a research note on Thursday, February 20th. Wedbush reissued an "outperform" rating and issued a $32.00 target price on shares of IMAX in a research note on Thursday, February 20th. Benchmark reaffirmed a "buy" rating and issued a $30.00 price target on shares of IMAX in a research report on Thursday, April 10th. Barrington Research raised their price objective on shares of IMAX from $30.00 to $32.00 and gave the company an "outperform" rating in a research note on Thursday, February 20th. Finally, Wells Fargo & Company lifted their target price on shares of IMAX from $26.00 to $32.00 and gave the stock an "overweight" rating in a report on Thursday, February 20th. Two investment 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 company. Based on data from MarketBeat.com, IMAX presently has a consensus rating of "Moderate Buy" and an average price target of $30.56.
View Our Latest Report on IMAX
IMAX Stock Performance
Shares of NYSE IMAX traded down $0.05 during mid-day trading on Friday, hitting $21.61. 530,097 shares of the stock traded hands, compared to its average volume of 754,622. The stock has a fifty day moving average price of $25.22 and a 200-day moving average price of $24.16. The company has a market cap of $1.15 billion, a price-to-earnings ratio of 44.10, a PEG ratio of 1.49 and a beta of 0.91. IMAX has a 52 week low of $14.94 and a 52 week high of $27.77.
IMAX (NYSE:IMAX - Get Free Report) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.14). IMAX had a return on equity of 8.60% and a net margin of 7.40%. The business had revenue of $92.67 million during the quarter, compared to the consensus estimate of $104.08 million. As a group, sell-side analysts predict that IMAX will post 0.91 EPS for the current fiscal year.
Institutional Investors Weigh In On IMAX
A number of hedge funds have recently added to or reduced their stakes in the stock. Blue Trust Inc. increased its position in IMAX by 138.5% during 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 last quarter. Tower Research Capital LLC TRC increased its position in shares of IMAX by 415.4% during 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 last quarter. Wealthfront Advisers LLC bought a new position in shares of IMAX in the 4th quarter worth approximately $217,000. Cornerstone Investment Partners LLC purchased a new position in shares of IMAX in the fourth quarter worth approximately $248,000. Finally, Savant Capital LLC purchased a new position in shares of IMAX in the fourth quarter worth approximately $249,000. 93.51% of the stock is currently owned by hedge funds and other institutional investors.
About IMAX
(
Get Free Report)
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.
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