Roth Mkm Issues Positive Forecast for IMAX (NYSE:IMAX) Stock Price

IMAX (NYSE:IMAX) had its price objective hoisted by Roth Mkm from $27.00 to $28.00 in a research report report published on Thursday morning, Benzinga reports. They currently have a buy rating on the stock.

A number of other equities analysts have also weighed in on IMAX. Barrington Research restated an “outperform” rating and issued a $24.00 target price on shares of IMAX in a research note on Thursday. Rosenblatt Securities reaffirmed a “buy” rating and issued a $28.00 target price on shares of IMAX in a research note on Thursday. JPMorgan Chase & Co. boosted their price target on shares of IMAX from $20.00 to $21.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. Wedbush increased their price target on shares of IMAX from $24.00 to $26.00 and gave the stock an “outperform” rating in a report on Tuesday, September 3rd. Finally, B. Riley lifted their price objective on shares of IMAX from $27.00 to $30.00 and gave the stock a “buy” rating in a report on Monday, July 8th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, IMAX has a consensus rating of “Moderate Buy” and an average target price of $24.22.

IMAX Trading Down 1.0 %

Shares of IMAX stock opened at $24.06 on Thursday. The company’s 50-day moving average price is $20.75 and its 200-day moving average price is $18.71. The company has a market cap of $1.27 billion, a price-to-earnings ratio of 54.68, a PEG ratio of 1.83 and a beta of 1.22. IMAX has a 12-month low of $13.20 and a 12-month high of $24.39.

IMAX (NYSE:IMAX) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.23 by $0.12. The firm had revenue of $91.50 million during the quarter, compared to the consensus estimate of $93.71 million. IMAX had a net margin of 6.74% and a return on equity of 7.53%. The business’s quarterly revenue was down 11.9% compared to the same quarter last year. During the same period last year, the firm earned $0.27 EPS. On average, sell-side analysts predict that IMAX will post 0.67 earnings per share for the current year.

Hedge Funds Weigh In On IMAX

Institutional investors and hedge funds have recently bought and sold shares of the stock. US Bancorp DE boosted its stake in shares of IMAX by 23.4% during the third quarter. US Bancorp DE now owns 7,656 shares of the company’s stock valued at $157,000 after purchasing an additional 1,452 shares during the period. Headlands Technologies LLC purchased a new stake in IMAX during the 2nd quarter valued at $35,000. Price T Rowe Associates Inc. MD grew its holdings in IMAX by 19.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,082 shares of the company’s stock worth $212,000 after acquiring an additional 2,153 shares during the last quarter. PNC Financial Services Group Inc. purchased a new position in shares of IMAX in the fourth quarter valued at about $33,000. Finally, nVerses Capital LLC bought a new position in shares of IMAX during the third quarter valued at about $70,000. 93.51% of the stock is currently owned by 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.