IMAX (NYSE:IMAX) Lowered to “Hold” Rating by StockNews.com

StockNews.com downgraded shares of IMAX (NYSE:IMAX) from a buy rating to a hold rating in a research report sent to investors on Friday morning.

IMAX has been the topic of several other reports. Barrington Research reiterated an “outperform” rating and issued a $24.00 target price on shares of IMAX in a report on Thursday, October 31st. JPMorgan Chase & Co. lifted their target price on IMAX from $20.00 to $21.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. Rosenblatt Securities restated a “buy” rating and issued a $28.00 price target on shares of IMAX in a report on Thursday, October 31st. Roth Mkm lifted their price objective on IMAX from $27.00 to $28.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, Wedbush reiterated an “outperform” rating on shares of IMAX in a research report on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.22.

IMAX Stock Performance

Shares of IMAX stock opened at $26.32 on Friday. The firm’s 50 day moving average price is $22.31 and its two-hundred day moving average price is $19.81. IMAX has a 52-week low of $13.20 and a 52-week high of $26.54. The stock has a market cap of $1.39 billion, a PE ratio of 59.82, a PEG ratio of 1.68 and a beta of 1.22.

IMAX (NYSE:IMAX) last released its earnings results 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 for 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%. The company’s quarterly revenue was down 11.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.27 earnings per share. As a group, sell-side analysts predict that IMAX will post 0.77 earnings per share for the current fiscal year.

Institutional Trading of IMAX

Institutional investors have recently made changes to their positions in the business. Public Employees Retirement System of Ohio bought a new stake in IMAX during the 3rd quarter worth about $1,555,000. Pier Capital LLC bought a new stake in IMAX during the third quarter worth about $4,221,000. Castleark Management LLC acquired a new position in IMAX during the third quarter valued at approximately $5,199,000. Systematic Financial Management LP bought a new position in IMAX in the third quarter valued at approximately $838,000. Finally, Quarry LP increased its position in shares of IMAX by 78,333.3% during the 3rd quarter. Quarry LP now owns 2,353 shares of the company’s stock worth $48,000 after purchasing an additional 2,350 shares during the last quarter. 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.