IMAX Co. (NYSE:IMAX) Receives $24.22 Average Price Target from Analysts

IMAX Co. (NYSE:IMAX) has been given an average rating of “Moderate Buy” by the ten research firms that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $24.22.

IMAX has been the subject of a number of recent research reports. Wedbush boosted their target price on shares of IMAX from $24.00 to $26.00 and gave the stock an “outperform” rating in a report on Tuesday, September 3rd. Barrington Research reiterated an “outperform” rating and issued a $24.00 target price on shares of IMAX in a report on Thursday, October 31st. Rosenblatt Securities reiterated a “buy” rating and issued a $28.00 target price on shares of IMAX in a report on Thursday, October 31st. JPMorgan Chase & Co. boosted their target price on shares of IMAX from $20.00 to $21.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. Finally, Macquarie boosted their target price on shares of IMAX from $24.00 to $26.00 and gave the stock an “outperform” rating in a report on Friday, July 26th.

Hedge Funds Weigh In On IMAX

Hedge funds have recently modified their holdings of the business. Huntington National Bank purchased a new position in IMAX during the 3rd quarter valued at about $34,000. Headlands Technologies LLC purchased a new position in IMAX during the 2nd quarter valued at about $35,000. Quarry LP boosted its holdings in IMAX by 78,333.3% during the 3rd quarter. Quarry LP now owns 2,353 shares of the company’s stock valued at $48,000 after acquiring an additional 2,350 shares during the period. nVerses Capital LLC purchased a new position in IMAX during the 3rd quarter valued at about $70,000. Finally, Summit Securities Group LLC purchased a new position in IMAX during the 2nd quarter valued at about $80,000. 93.51% of the stock is currently owned by hedge funds and other institutional investors.

IMAX Stock Up 1.9 %

NYSE IMAX opened at $25.19 on Wednesday. The company has a fifty day moving average of $21.77 and a two-hundred day moving average of $19.49. The firm has a market capitalization of $1.33 billion, a price-to-earnings ratio of 57.25, a PEG ratio of 1.63 and a beta of 1.22. IMAX has a 52 week low of $13.20 and a 52 week high of $25.51.

IMAX (NYSE:IMAX) last issued its earnings results on Wednesday, October 30th. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.12. The firm had revenue of $91.50 million during the quarter, compared to analyst estimates of $93.71 million. IMAX had a net margin of 6.74% and a return on equity of 7.53%. The business’s revenue was down 11.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.27 earnings per share. Equities research analysts anticipate that IMAX will post 0.76 EPS for the current year.

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.