IMAX (NYSE:IMAX) Rating Lowered to “Hold” at StockNews.com

IMAX (NYSE:IMAX) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Thursday.

A number of other research firms have also recently commented on IMAX. Benchmark reaffirmed a “buy” rating and set a $30.00 price target on shares of IMAX in a research note on Thursday, April 10th. Macquarie boosted their target price on IMAX from $30.00 to $32.00 and gave the company an “outperform” rating in a research report on Friday, April 25th. Wedbush reiterated an “outperform” rating and issued a $32.00 price target on shares of IMAX in a report on Thursday, April 17th. JPMorgan Chase & Co. dropped their price objective on IMAX from $27.00 to $26.00 and set a “neutral” rating for the company in a report on Friday, April 11th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $35.00 target price on shares of IMAX in a research note on Thursday, April 24th. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.56.

IMAX Price Performance

Shares of IMAX stock opened at $26.00 on Thursday. The company has a market cap of $1.40 billion, a PE ratio of 53.06, a price-to-earnings-growth ratio of 1.49 and a beta of 0.79. IMAX has a 1 year low of $14.94 and a 1 year high of $27.77. The stock’s 50 day simple moving average is $24.48 and its two-hundred day simple moving average is $24.59.

IMAX (NYSE:IMAX) last released its quarterly earnings results on Wednesday, April 23rd. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.02. The company had revenue of $86.67 million for the quarter, compared to analyst estimates of $82.95 million. IMAX had a return on equity of 8.60% and a net margin of 7.40%. IMAX’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.15 EPS. Equities research analysts expect that IMAX will post 0.91 EPS for the current year.

Hedge Funds Weigh In On IMAX

Institutional investors have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its holdings in IMAX by 1.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 104,510 shares of the company’s stock worth $2,754,000 after acquiring an additional 1,309 shares in the last quarter. Jupiter Asset Management Ltd. boosted its stake in shares of IMAX by 805.9% during the first quarter. Jupiter Asset Management Ltd. now owns 469,504 shares of the company’s stock valued at $12,371,000 after purchasing an additional 417,677 shares in the last quarter. US Bancorp DE increased its holdings in IMAX by 33.1% during the first quarter. US Bancorp DE now owns 16,338 shares of the company’s stock valued at $431,000 after buying an additional 4,062 shares during the period. XTX Topco Ltd raised its stake in IMAX by 35.6% in the first quarter. XTX Topco Ltd now owns 22,699 shares of the company’s stock worth $598,000 after buying an additional 5,963 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in IMAX by 22.6% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,179 shares of the company’s stock worth $453,000 after buying an additional 3,168 shares during the period. Hedge funds and other institutional investors own 93.51% of the company’s stock.

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.