Analysts Set IMAX Co. (NYSE:IMAX) Target Price at $23.78

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

IMAX has been the subject of several recent research reports. B. Riley boosted their price target on IMAX from $27.00 to $30.00 and gave the stock a “buy” rating in a research report on Monday, July 8th. Barrington Research restated an “outperform” rating and issued a $25.00 price target on shares of IMAX in a report on Friday, July 26th. Wedbush raised their target price on shares of IMAX from $24.00 to $26.00 and gave the company an “outperform” rating in a research note on Tuesday, September 3rd. Rosenblatt Securities upped their price target on IMAX from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Finally, Roth Mkm raised their price objective on IMAX from $23.00 to $27.00 and gave the stock a “buy” rating in a research report on Friday, July 26th.

IMAX Price Performance

Shares of IMAX stock opened at $20.60 on Friday. The stock has a market cap of $1.08 billion, a price-to-earnings ratio of 42.92, a PEG ratio of 1.51 and a beta of 1.25. The firm’s 50-day moving average is $19.75 and its two-hundred day moving average is $17.64. IMAX has a 1 year low of $13.20 and a 1 year high of $22.13.

IMAX (NYSE:IMAX) last issued its quarterly earnings data 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. The company had revenue of $88.96 million for the quarter, compared to analyst estimates of $74.52 million. IMAX had a net margin of 5.97% and a return on equity of 7.78%. IMAX’s revenue was down 9.2% compared to the same quarter last year. During the same period last year, the company posted $0.17 earnings per share. On average, equities analysts expect that IMAX will post 0.69 earnings per share for the current year.

Institutional Trading of IMAX

Several large investors have recently added to or reduced their stakes in IMAX. Private Capital Management LLC raised its holdings in shares of IMAX by 54.3% during the fourth quarter. Private Capital Management LLC now owns 1,185,715 shares of the company’s stock worth $17,809,000 after purchasing an additional 417,169 shares during the last quarter. Kodai Capital Management LP acquired a new stake in IMAX during the 4th quarter worth about $5,287,000. Victory Capital Management Inc. raised its stake in shares of IMAX by 33.1% during the 2nd quarter. Victory Capital Management Inc. now owns 1,293,221 shares of the company’s stock valued at $21,687,000 after buying an additional 321,506 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in shares of IMAX by 178.7% in the 1st quarter. Acadian Asset Management LLC now owns 490,917 shares of the company’s stock valued at $7,934,000 after buying an additional 314,742 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in shares of IMAX by 90.6% in the second quarter. Bank of New York Mellon Corp now owns 587,694 shares of the company’s stock worth $9,856,000 after buying an additional 279,410 shares during the last quarter. Hedge funds and other institutional investors 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.