IMAX Co. (NYSE:IMAX) Receives $30.67 Consensus Price Target from Brokerages

Shares of IMAX Co. (NYSE:IMAX) have earned a consensus recommendation of “Buy” from the ten analysts that are presently covering the company, Marketbeat Ratings reports. One equities research 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 12-month target price among analysts that have issued a report on the stock in the last year is $30.67.

Several equities research analysts have recently issued reports on the company. Rosenblatt Securities lifted their target price on IMAX from $28.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Wells Fargo & Company upped their price objective on IMAX from $26.00 to $32.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. Wedbush reiterated an “outperform” rating and set a $32.00 target price on shares of IMAX in a research report on Thursday, February 20th. Macquarie boosted their price target on shares of IMAX from $28.00 to $30.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. Finally, Barrington Research increased their price objective on shares of IMAX from $30.00 to $32.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th.

Institutional Investors Weigh In On IMAX

Several institutional investors have recently made changes to their positions in the company. Intech Investment Management LLC purchased a new stake in IMAX in the 3rd quarter worth about $205,000. FMR LLC grew its stake in shares of IMAX by 108.4% during the third quarter. FMR LLC now owns 3,949,643 shares of the company’s stock valued at $81,007,000 after buying an additional 2,054,031 shares during the last quarter. Quantbot Technologies LP purchased a new stake in shares of IMAX in the third quarter worth approximately $777,000. PEAK6 Investments LLC lifted its stake in shares of IMAX by 312.1% during the 3rd quarter. PEAK6 Investments LLC now owns 55,676 shares of the company’s stock worth $1,142,000 after acquiring an additional 42,165 shares during the last quarter. Finally, Atom Investors LP bought a new stake in shares of IMAX during the 3rd quarter worth approximately $265,000. Institutional investors own 93.51% of the company’s stock.

IMAX Price Performance

Shares of IMAX opened at $27.05 on Tuesday. IMAX has a 1 year low of $14.94 and a 1 year high of $27.77. The company has a 50 day simple moving average of $25.18 and a two-hundred day simple moving average of $23.79. The firm has a market cap of $1.43 billion, a P/E ratio of 55.20, a price-to-earnings-growth ratio of 1.49 and a beta of 1.22.

IMAX (NYSE:IMAX) last posted its earnings results 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 company had revenue of $92.67 million for the quarter, compared to analysts’ expectations 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.

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.