IMAX (NYSE:IMAX) Rating Lowered to Hold at StockNews.com

IMAX (NYSE:IMAX) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.

IMAX has been the subject of several other reports. Rosenblatt Securities reaffirmed a “buy” rating and set a $28.00 target price on shares of IMAX in a report on Thursday, October 31st. Roth Mkm upped their target price on IMAX from $27.00 to $28.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Barrington Research reaffirmed an “outperform” rating and set a $24.00 target price on shares of IMAX in a report on Thursday, October 31st. Macquarie upped their target price on IMAX from $24.00 to $26.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Finally, Wedbush upped their target price on IMAX from $24.00 to $26.00 and gave the company an “outperform” rating in a report on Tuesday, September 3rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $24.22.

IMAX Trading Down 0.7 %

IMAX stock traded down $0.18 during midday trading on Thursday, hitting $24.60. The stock had a trading volume of 183,768 shares, compared to its average volume of 761,486. The stock has a market cap of $1.30 billion, a P/E ratio of 55.90, a P/E/G ratio of 1.63 and a beta of 1.22. IMAX has a 12 month low of $13.20 and a 12 month high of $25.28. The business has a fifty day moving average price of $21.68 and a 200 day moving average price of $19.43.

IMAX (NYSE:IMAX) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.35 earnings per share 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 analyst estimates of $93.71 million. IMAX had a return on equity of 7.53% and a net margin of 6.74%. IMAX’s quarterly revenue was down 11.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.27 earnings per share. On average, equities analysts anticipate that IMAX will post 0.76 EPS for the current fiscal year.

Hedge Funds Weigh In On IMAX

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in IMAX by 13.2% in the first quarter. Vanguard Group Inc. now owns 584,795 shares of the company’s stock worth $9,456,000 after purchasing an additional 68,155 shares during the period. Victory Capital Management Inc. lifted its position in IMAX by 33.1% in the second quarter. Victory Capital Management Inc. now owns 1,293,221 shares of the company’s stock worth $21,687,000 after purchasing an additional 321,506 shares during the period. Mizuho Markets Americas LLC lifted its position in IMAX by 47.5% in the third quarter. Mizuho Markets Americas LLC now owns 387,689 shares of the company’s stock worth $7,952,000 after purchasing an additional 124,811 shares during the period. American Century Companies Inc. lifted its position in IMAX by 57.0% in the second quarter. American Century Companies Inc. now owns 120,021 shares of the company’s stock worth $2,013,000 after purchasing an additional 43,584 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in 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 purchasing an additional 279,410 shares during the period. 93.51% of the stock is currently owned by institutional investors and hedge funds.

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.