Analysts Set IMAX Co. (NYSE:IMAX) Price Target at $23.67

by · The Cerbat Gem

Shares of IMAX Co. (NYSE:IMAX – Get Free Report) have received an average recommendation of “Moderate Buy” from the ten ratings firms that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, seven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among analysts that have covered the stock in the last year is $23.67.

A number of analysts recently weighed in on the stock. Wedbush increased their price objective on shares of IMAX from $24.00 to $26.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 3rd. Macquarie raised their price target on IMAX from $24.00 to $26.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Roth Mkm upped their price objective on IMAX from $23.00 to $27.00 and gave the company a “buy” rating in a research report on Friday, July 26th. B. Riley increased their target price on IMAX from $27.00 to $30.00 and gave the stock a “buy” rating in a research note on Monday, July 8th. Finally, Barrington Research restated an “outperform” rating and issued a $24.00 price target on shares of IMAX in a report on Wednesday, September 25th.

Check Out Our Latest Analysis on IMAX

IMAX Price Performance

Shares of IMAX stock opened at $19.51 on Tuesday. The company has a market cap of $1.03 billion, a PE ratio of 40.65, a price-to-earnings-growth ratio of 1.38 and a beta of 1.25. The stock’s 50 day simple moving average is $20.56 and its two-hundred day simple moving average is $18.03. IMAX has a 1 year low of $13.20 and a 1 year high of $22.13.

IMAX (NYSE:IMAX – Get Free Report) last issued its quarterly earnings results on Thursday, July 25th. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.11. IMAX had a return on equity of 7.78% and a net margin of 5.97%. The company had revenue of $88.96 million during the quarter, compared to the consensus estimate of $74.52 million. During the same period last year, the company earned $0.17 earnings per share. IMAX’s revenue was down 9.2% on a year-over-year basis. Equities research analysts expect that IMAX will post 0.69 EPS for the current year.

Institutional Investors Weigh In On IMAX

A number of large investors have recently modified their holdings of the business. Dimensional Fund Advisors LP grew its stake in IMAX by 0.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,454,524 shares of the company’s stock valued at $21,847,000 after purchasing an additional 10,358 shares during the last quarter. Eagle Asset Management Inc. increased its holdings in IMAX by 27.2% in the 4th quarter. Eagle Asset Management Inc. now owns 364,741 shares of the company’s stock worth $5,478,000 after buying an additional 77,966 shares during the period. Kodai Capital Management LP purchased a new position in IMAX during the 4th quarter worth approximately $5,287,000. Quadrature Capital Ltd lifted its stake in IMAX by 9.9% during the 4th quarter. Quadrature Capital Ltd now owns 60,867 shares of the company’s stock valued at $914,000 after acquiring an additional 5,470 shares during the period. Finally, PNC Financial Services Group Inc. purchased a new stake in shares of IMAX in the 4th quarter valued at $33,000. Hedge funds and other institutional investors own 93.51% of the company’s stock.

IMAX Company Profile

(Get Free Report

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.

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