IMAX Co. (NYSE:IMAX) Given Consensus Recommendation of “Buy” by Analysts

Shares of IMAX Co. (NYSE:IMAX) have earned an average recommendation of “Buy” from the ten brokerages that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, eight have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $30.67.

A number of research analysts have commented on the company. Wedbush reaffirmed an “outperform” rating and set a $32.00 price target on shares of IMAX in a research report on Thursday, February 20th. StockNews.com downgraded IMAX from a “buy” rating to a “hold” rating in a report on Thursday. Macquarie lifted their price target on shares of IMAX from $28.00 to $30.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. Barrington Research upped their price objective on shares of IMAX from $30.00 to $32.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. Finally, Wells Fargo & Company raised their target price on shares of IMAX from $26.00 to $32.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th.

IMAX Stock Down 3.5 %

Shares of NYSE IMAX opened at $26.08 on Tuesday. The firm’s fifty day moving average is $25.23 and its 200 day moving average is $23.84. IMAX has a 52 week low of $14.94 and a 52 week high of $27.77. The company has a market cap of $1.38 billion, a price-to-earnings ratio of 53.23, a PEG ratio of 1.49 and a beta of 1.22.

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

Institutional Trading of IMAX

Several institutional investors have recently bought and sold shares of IMAX. Janney Montgomery Scott LLC boosted its stake in IMAX by 1.9% during the 4th quarter. Janney Montgomery Scott LLC now owns 29,176 shares of the company’s stock valued at $747,000 after purchasing an additional 533 shares during the last quarter. Blue Trust Inc. boosted its position in shares of IMAX by 138.5% during the fourth quarter. Blue Trust Inc. now owns 966 shares of the company’s stock valued at $25,000 after buying an additional 561 shares during the last quarter. MetLife Investment Management LLC increased its holdings in IMAX by 3.4% in the 4th quarter. MetLife Investment Management LLC now owns 25,918 shares of the company’s stock worth $664,000 after buying an additional 848 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in IMAX by 3.9% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,395 shares of the company’s stock worth $625,000 after buying an additional 905 shares in the last quarter. Finally, State of Tennessee Department of Treasury raised its position in IMAX by 19.8% in the 4th quarter. State of Tennessee Department of Treasury now owns 9,827 shares of the company’s stock worth $252,000 after buying an additional 1,627 shares during the last quarter. 93.51% of the stock is owned by hedge funds and other institutional investors.

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.