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

IMAX Co. (NYSE:IMAX) has been assigned a consensus recommendation of “Moderate Buy” from the ten analysts that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, seven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $24.22.

IMAX has been the subject of a number of research analyst reports. Seaport Res Ptn raised shares of IMAX to a “strong-buy” rating in a report on Wednesday, July 24th. Wedbush increased 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. StockNews.com raised IMAX from a “hold” rating to a “buy” rating in a research note on Thursday, November 7th. Rosenblatt Securities restated a “buy” rating and issued a $28.00 price objective on shares of IMAX in a report on Thursday, October 31st. Finally, Barrington Research reaffirmed an “outperform” rating and set a $24.00 target price on shares of IMAX in a report on Thursday, October 31st.

IMAX Stock Performance

NYSE:IMAX opened at $24.90 on Wednesday. The firm has a market capitalization of $1.31 billion, a price-to-earnings ratio of 56.59, a P/E/G ratio of 1.59 and a beta of 1.22. The stock has a fifty day moving average of $21.52 and a 200 day moving average of $19.35. IMAX has a 52-week low of $13.20 and a 52-week high of $25.28.

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

Institutional Investors Weigh In On IMAX

Large investors have recently made changes to their positions in the business. FMR LLC boosted its holdings in IMAX by 108.4% in the third quarter. FMR LLC now owns 3,949,643 shares of the company’s stock valued at $81,007,000 after acquiring an additional 2,054,031 shares in the last quarter. Victory Capital Management Inc. raised its stake in IMAX by 33.1% in the second quarter. Victory Capital Management Inc. now owns 1,293,221 shares of the company’s stock worth $21,687,000 after buying an additional 321,506 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in IMAX by 90.6% in the second quarter. Bank of New York Mellon Corp now owns 587,694 shares of the company’s stock worth $9,856,000 after buying an additional 279,410 shares during the period. Castleark Management LLC bought a new stake in IMAX during the 3rd quarter valued at approximately $5,199,000. Finally, Pier Capital LLC bought a new position in shares of IMAX in the 3rd quarter worth approximately $4,221,000. 93.51% of the stock is currently owned by institutional investors.

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.