IMAX Co. (NYSE:IMAX) Receives $30.67 Average PT from Analysts

IMAX Co. (NYSE:IMAX) has received an average recommendation of “Buy” from the ten ratings firms that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation, eight have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $30.67.

A number of equities research analysts have recently issued reports on the company. Benchmark restated a “buy” rating and issued a $30.00 price target on shares of IMAX in a research report on Thursday, February 20th. Wells Fargo & Company raised their target price on IMAX from $26.00 to $32.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. JPMorgan Chase & Co. boosted their price target on shares of IMAX from $25.00 to $27.00 and gave the company a “neutral” rating in a research report on Friday, February 21st. Barrington Research raised their price objective on shares of IMAX from $30.00 to $32.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. Finally, Wedbush reiterated an “outperform” rating and issued a $32.00 target price on shares of IMAX in a report on Thursday, February 20th.

IMAX Stock Up 0.9 %

Shares of IMAX opened at $26.38 on Tuesday. IMAX has a 52-week low of $14.94 and a 52-week high of $27.77. The stock has a market cap of $1.40 billion, a PE ratio of 53.83, a price-to-earnings-growth ratio of 1.49 and a beta of 1.22. The firm’s fifty day moving average is $25.30 and its two-hundred day moving average is $23.91.

IMAX (NYSE:IMAX) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.14). The business had revenue of $92.67 million for the quarter, compared to analyst estimates of $104.08 million. IMAX had a return on equity of 8.60% and a net margin of 7.40%. As a group, research analysts anticipate that IMAX will post 0.91 earnings per share for the current year.

Hedge Funds Weigh In On IMAX

A number of hedge funds have recently made changes to their positions in the stock. Intech Investment Management LLC acquired a new position in IMAX during the third quarter worth $205,000. FMR LLC lifted its stake in IMAX by 108.4% during the 3rd quarter. FMR LLC now owns 3,949,643 shares of the company’s stock worth $81,007,000 after acquiring an additional 2,054,031 shares in the last quarter. Quantbot Technologies LP purchased a new position in IMAX during the 3rd quarter valued at about $777,000. PEAK6 Investments LLC grew its position in IMAX by 312.1% in the 3rd quarter. PEAK6 Investments LLC now owns 55,676 shares of the company’s stock valued at $1,142,000 after acquiring an additional 42,165 shares in the last quarter. Finally, Atom Investors LP purchased a new stake in IMAX during the third quarter worth about $265,000. Hedge funds and other institutional investors 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.