IMAX Co. (NYSE:IMAX) Receives Consensus Rating of "Buy" from Brokerages

IMAX Co. (NYSE:IMAX - Get Free Report) has earned an average recommendation of "Buy" from the ten brokerages that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $31.22.

Several brokerages recently weighed in on IMAX. Wedbush reissued an "outperform" rating and issued a $32.00 target price on shares of IMAX in a research note on Thursday, April 17th. B. Riley reissued a "buy" rating and issued a $36.00 target price on shares of IMAX in a research note on Friday, May 16th. Rosenblatt Securities reissued a "buy" rating and issued a $35.00 target price on shares of IMAX in a research note on Thursday, April 24th. Wells Fargo & Company cut their target price on shares of IMAX from $32.00 to $30.00 and set an "overweight" rating for the company in a research note on Thursday, April 24th. Finally, Wall Street Zen raised shares of IMAX from a "hold" rating to a "buy" rating in a research note on Friday, May 16th.

IMAX Price Performance

NYSE:IMAX opened at $27.63 on Friday. The firm has a market cap of $1.48 billion, a price-to-earnings ratio of 56.39, a price-to-earnings-growth ratio of 1.49 and a beta of 0.79. IMAX has a 1-year low of $14.94 and a 1-year high of $28.42. The firm's fifty day moving average price is $25.13 and its 200 day moving average price is $25.13.

IMAX (NYSE:IMAX - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.11 by $0.02. The company had revenue of $86.67 million for the quarter, compared to analyst estimates of $82.95 million. IMAX had a net margin of 7.40% and a return on equity of 8.60%. The business's revenue was up 9.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.15 EPS. As a group, analysts expect that IMAX will post 0.91 earnings per share for the current fiscal year.

Institutional Investors Weigh In On IMAX

Several hedge funds have recently modified their holdings of IMAX. Blue Trust Inc. lifted its stake in IMAX by 138.5% in the 4th quarter. Blue Trust Inc. now owns 966 shares of the company's stock worth $25,000 after acquiring an additional 561 shares in the last quarter. Creative Financial Designs Inc. ADV purchased a new stake in IMAX in the 1st quarter worth about $59,000. Tower Research Capital LLC TRC lifted its stake in IMAX by 415.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 7,236 shares of the company's stock worth $185,000 after acquiring an additional 5,832 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in IMAX in the 1st quarter worth about $202,000. Finally, Wealthfront Advisers LLC purchased a new stake in IMAX in the 4th quarter worth about $217,000. 93.51% of the stock is owned by hedge funds and other 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.

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