IMAX Co. (NYSE:IMAX) Given Consensus Recommendation of “Buy” by Analysts

Shares of IMAX Co. (NYSE:IMAX) have received a consensus rating of “Buy” from the ten ratings firms that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $31.22.

Several equities analysts have recently issued reports on IMAX shares. Macquarie lifted their price target on IMAX from $30.00 to $32.00 and gave the stock an “outperform” rating in a research report on Friday, April 25th. StockNews.com raised IMAX from a “hold” rating to a “buy” rating in a research report on Friday. Rosenblatt Securities reissued a “buy” rating and issued a $35.00 target price on shares of IMAX in a research report on Thursday, April 24th. Wedbush reissued an “outperform” rating and issued a $32.00 target price on shares of IMAX in a research report on Thursday, April 17th. Finally, Wells Fargo & Company cut their price target on IMAX from $32.00 to $30.00 and set an “overweight” rating for the company in a research note on Thursday, April 24th.

IMAX Price Performance

IMAX opened at $27.20 on Wednesday. The stock has a 50-day moving average price of $24.66 and a 200-day moving average price of $24.82. The firm has a market cap of $1.46 billion, a PE ratio of 55.50, a P/E/G 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.

IMAX (NYSE:IMAX) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.02. The firm had revenue of $86.67 million during 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 previous year, the firm earned $0.15 EPS. As a group, sell-side analysts anticipate that IMAX will post 0.91 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IMAX. SG Americas Securities LLC bought a new position in IMAX in the 4th quarter worth approximately $333,000. Janney Montgomery Scott LLC raised its holdings in shares of IMAX by 1.9% during the 4th quarter. Janney Montgomery Scott LLC now owns 29,176 shares of the company’s stock worth $747,000 after acquiring an additional 533 shares in the last quarter. Hedges Asset Management LLC raised its holdings in shares of IMAX by 3.1% during the 4th quarter. Hedges Asset Management LLC now owns 83,600 shares of the company’s stock worth $2,140,000 after acquiring an additional 2,500 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of IMAX by 138.5% during the 4th quarter. Blue Trust Inc. now owns 966 shares of the company’s stock worth $25,000 after acquiring an additional 561 shares in the last quarter. Finally, Calamos Advisors LLC purchased a new stake in shares of IMAX during the 4th quarter worth approximately $351,000. 93.51% of the stock is currently owned by institutional investors.

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.