IMAX Co. (NYSE:IMAX) Receives Average Recommendation of "Moderate Buy" from Brokerages

IMAX Co. (NYSE:IMAX - Get Free Report) has been assigned an average rating of "Moderate Buy" from the ten brokerages that are covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $24.11.

A number of equities research analysts have recently commented on the company. Roth Mkm reaffirmed a "buy" rating and issued a $27.00 price objective on shares of IMAX in a research report on Thursday, October 10th. Wedbush lifted their price objective on IMAX from $24.00 to $26.00 and gave the company an "outperform" rating in a research report on Tuesday, September 3rd. Rosenblatt Securities reaffirmed a "buy" rating and issued a $28.00 price objective on shares of IMAX in a research report on Friday, October 4th. B. Riley lifted their price objective on IMAX from $27.00 to $30.00 and gave the company a "buy" rating in a research report on Monday, July 8th. Finally, JPMorgan Chase & Co. boosted their price target on IMAX from $20.00 to $21.00 and gave the company a "neutral" rating in a research report on Monday, October 14th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Headlands Technologies LLC acquired a new position in shares of IMAX during the second quarter worth about $35,000. PNC Financial Services Group Inc. acquired a new position in shares of IMAX in the fourth quarter worth about $33,000. nVerses Capital LLC acquired a new position in shares of IMAX in the third quarter worth about $70,000. Summit Securities Group LLC acquired a new position in shares of IMAX in the second quarter worth about $80,000. Finally, Laurus Investment Counsel Inc. acquired a new position in shares of IMAX in the second quarter worth about $150,000. Institutional investors and hedge funds own 93.51% of the company's stock.

IMAX Trading Up 2.1 %

Shares of NYSE IMAX traded up $0.42 during trading on Friday, reaching $20.49. The company had a trading volume of 341,008 shares, compared to its average volume of 636,165. IMAX has a twelve month low of $13.20 and a twelve month high of $22.13. The stock has a market capitalization of $1.08 billion, a PE ratio of 51.23, a price-to-earnings-growth ratio of 1.52 and a beta of 1.25. The stock has a 50-day moving average price of $20.60 and a two-hundred day moving average price of $18.51.

IMAX (NYSE:IMAX - Get Free Report) last released its quarterly earnings results on Thursday, July 25th. The company reported $0.18 earnings per share for the quarter, topping analysts' consensus estimates of $0.07 by $0.11. The company had revenue of $88.96 million during the quarter, compared to analysts' expectations of $74.52 million. IMAX had a return on equity of 7.78% and a net margin of 5.97%. The business's revenue for the quarter was down 9.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.17 earnings per share. On average, sell-side analysts predict that IMAX will post 0.68 EPS 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.