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

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

A number of equities analysts have issued reports on IMAX shares. Macquarie raised their target price on shares of IMAX from $30.00 to $32.00 and gave the stock an “outperform” rating in a report on Friday, April 25th. Wedbush reissued an “outperform” rating and issued a $32.00 target price on shares of IMAX in a report on Thursday, April 17th. JPMorgan Chase & Co. cut their price target on IMAX from $27.00 to $26.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. StockNews.com raised IMAX from a “hold” rating to a “buy” rating in a report on Friday, May 16th. Finally, B. Riley initiated coverage on IMAX in a report on Friday, May 16th. They set a “buy” rating and a $36.00 price target on the stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in IMAX. FMR LLC increased its stake in shares of IMAX by 14.2% during the fourth quarter. FMR LLC now owns 4,508,583 shares of the company’s stock valued at $115,420,000 after acquiring an additional 558,940 shares during the period. Jane Street Group LLC increased its stake in shares of IMAX by 2,496.9% during the first quarter. Jane Street Group LLC now owns 573,919 shares of the company’s stock valued at $15,123,000 after acquiring an additional 551,819 shares during the period. Ameriprise Financial Inc. increased its stake in shares of IMAX by 36.9% during the fourth quarter. Ameriprise Financial Inc. now owns 1,823,516 shares of the company’s stock valued at $46,671,000 after acquiring an additional 491,172 shares during the period. Orbis Allan Gray Ltd increased its stake in shares of IMAX by 12.3% during the first quarter. Orbis Allan Gray Ltd now owns 3,882,766 shares of the company’s stock valued at $102,311,000 after acquiring an additional 425,081 shares during the period. Finally, Driehaus Capital Management LLC acquired a new position in shares of IMAX during the first quarter valued at approximately $11,181,000. Institutional investors and hedge funds own 93.51% of the company’s stock.

IMAX Stock Down 0.3%

Shares of NYSE IMAX opened at $27.07 on Wednesday. The firm’s 50-day moving average price is $24.79 and its two-hundred day moving average price is $24.86. IMAX has a 52-week low of $14.94 and a 52-week high of $27.77. The stock has a market capitalization of $1.45 billion, a P/E ratio of 55.25, a P/E/G ratio of 1.49 and a beta of 0.79.

IMAX (NYSE:IMAX) last issued its earnings results on Wednesday, April 23rd. The company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.02. IMAX had a net margin of 7.40% and a return on equity of 8.60%. The firm had revenue of $86.67 million for the quarter, compared to analysts’ expectations of $82.95 million. During the same quarter last year, the company posted $0.15 earnings per share. IMAX’s revenue was up 9.6% on a year-over-year basis. As a group, equities research analysts expect 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.