IMAX Co. (NYSE:IMAX) Receives $23.78 Average Price Target from Analysts

Shares of IMAX Co. (NYSE:IMAX) have earned a consensus recommendation of “Moderate Buy” from the ten research firms that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation, seven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $23.78.

A number of research firms recently issued reports on IMAX. Seaport Res Ptn raised shares of IMAX to a “strong-buy” rating in a research note on Wednesday, July 24th. B. Riley lifted their target price on shares of IMAX from $27.00 to $30.00 and gave the company a “buy” rating in a research report on Monday, July 8th. Wedbush boosted their target price on shares of IMAX from $24.00 to $26.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 3rd. Barrington Research reaffirmed an “outperform” rating and issued a $25.00 price target on shares of IMAX in a research note on Friday, July 26th. Finally, Roth Mkm boosted their price objective on IMAX from $23.00 to $27.00 and gave the stock a “buy” rating in a research note on Friday, July 26th.

IMAX Stock Up 0.0 %

IMAX stock opened at $20.60 on Friday. IMAX has a 52-week low of $13.20 and a 52-week high of $22.13. The firm has a market cap of $1.08 billion, a P/E ratio of 42.92, a PEG ratio of 1.51 and a beta of 1.25. The company’s 50-day simple moving average is $19.75 and its 200-day simple moving average is $17.64.

IMAX (NYSE:IMAX) last issued its quarterly earnings results on Thursday, July 25th. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.11. The company had revenue of $88.96 million for the quarter, compared to the consensus estimate of $74.52 million. IMAX had a return on equity of 7.78% and a net margin of 5.97%. IMAX’s revenue for the quarter was down 9.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.17 earnings per share. On average, analysts anticipate that IMAX will post 0.69 earnings per share for the current fiscal year.

Institutional Investors Weigh In On IMAX

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Headlands Technologies LLC purchased a new stake in IMAX in the 2nd quarter valued at $35,000. Price T Rowe Associates Inc. MD grew its holdings in shares of IMAX by 19.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 13,082 shares of the company’s stock valued at $212,000 after purchasing an additional 2,153 shares during the period. PNC Financial Services Group Inc. acquired a new stake in IMAX during the fourth quarter worth about $33,000. Equitable Trust Co. raised its stake in IMAX by 12.3% during the first quarter. Equitable Trust Co. now owns 40,710 shares of the company’s stock worth $658,000 after purchasing an additional 4,455 shares during the period. Finally, Summit Securities Group LLC purchased a new position in IMAX during the second quarter worth about $80,000. Institutional investors and hedge funds 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.