IMAX (NYSE:IMAX) Earns Buy Rating from Rosenblatt Securities

Rosenblatt Securities reissued their buy rating on shares of IMAX (NYSE:IMAX) in a research note published on Friday, Benzinga reports. They currently have a $28.00 price objective on the stock.

Several other analysts have also recently issued reports on the stock. Macquarie increased 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 Friday, July 26th. Seaport Res Ptn raised IMAX to a strong-buy rating in a research note on Wednesday, July 24th. Barrington Research restated an outperform rating and set a $24.00 target price on shares of IMAX in a research report on Wednesday, September 25th. Benchmark reaffirmed a buy rating and issued a $22.00 price target on shares of IMAX in a report on Thursday, June 20th. Finally, Roth Mkm boosted their price objective on IMAX from $23.00 to $27.00 and gave the stock a buy rating in a report on Friday, July 26th. One analyst has rated the stock with a sell rating, two have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, IMAX currently has a consensus rating of Moderate Buy and an average price target of $23.67.

IMAX Price Performance

IMAX stock opened at $19.51 on Friday. The firm has a market capitalization of $1.03 billion, a P/E ratio of 40.65, a PEG ratio of 1.38 and a beta of 1.25. IMAX has a one year low of $13.20 and a one year high of $22.13. The business has a fifty day moving average price of $20.56 and a 200-day moving average price of $18.06.

IMAX (NYSE:IMAX) last posted its earnings results on Thursday, July 25th. The company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.11. IMAX had a return on equity of 7.78% and a net margin of 5.97%. The business had revenue of $88.96 million during the quarter, compared to analyst estimates of $74.52 million. During the same quarter in the previous year, the firm earned $0.17 EPS. The company’s quarterly revenue was down 9.2% compared to the same quarter last year. Sell-side analysts expect that IMAX will post 0.69 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. PNC Financial Services Group Inc. bought a new position in IMAX during the 4th quarter worth approximately $33,000. Headlands Technologies LLC purchased a new position in shares of IMAX in the second quarter worth $35,000. Summit Securities Group LLC bought a new stake in IMAX during the 2nd quarter valued at $80,000. Laurus Investment Counsel Inc. bought a new stake in IMAX during the 2nd quarter valued at $150,000. Finally, XTX Topco Ltd purchased a new stake in IMAX during the 2nd quarter valued at $208,000. 93.51% of the stock is owned by hedge funds and other 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.