JPMorgan Chase & Co. Boosts IMAX (NYSE:IMAX) Price Target to $21.00

IMAX (NYSE:IMAX) had its price target raised by JPMorgan Chase & Co. from $20.00 to $21.00 in a report issued on Monday morning, Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other brokerages also recently issued reports on IMAX. Roth Mkm reissued a “buy” rating and set a $27.00 price objective on shares of IMAX in a research note on Thursday, October 10th. Barrington Research reissued an “outperform” rating and set a $24.00 price objective on shares of IMAX in a research note on Wednesday, September 25th. Seaport Res Ptn raised shares of IMAX to a “strong-buy” rating in a research note on Wednesday, July 24th. Benchmark reissued a “buy” rating and set a $22.00 price objective on shares of IMAX in a research note on Thursday, June 20th. Finally, Macquarie upped their price objective on shares of IMAX from $24.00 to $26.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. One analyst has rated the stock with a sell rating, two have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $24.11.

IMAX Price Performance

Shares of NYSE IMAX opened at $20.66 on Monday. IMAX has a 12-month low of $13.20 and a 12-month high of $22.13. The company has a market capitalization of $1.09 billion, a PE ratio of 43.04, a price-to-earnings-growth ratio of 1.41 and a beta of 1.25. The firm’s 50-day moving average is $20.51 and its two-hundred day moving average is $18.29.

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

Institutional Investors Weigh In On IMAX

Large investors have recently made changes to their positions in the business. Headlands Technologies LLC acquired a new stake in shares of IMAX in the second quarter worth $35,000. PNC Financial Services Group Inc. acquired a new stake in shares of IMAX in the fourth quarter worth $33,000. nVerses Capital LLC acquired a new stake in shares of IMAX in the third quarter worth $70,000. Summit Securities Group LLC acquired a new stake in shares of IMAX in the second quarter worth $80,000. Finally, Laurus Investment Counsel Inc. acquired a new stake in shares of IMAX in the second quarter worth $150,000. Institutional investors and hedge funds own 93.51% of the company’s stock.

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.