IMAX Corporation (NYSE:IMAX) Given Average Recommendation of "Buy" by Brokerages

Shares of IMAX Corporation (NYSE:IMAX - Get Free Report) have been given an average recommendation of "Buy" by the eleven research firms that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation, eight have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $31.70.

A number of analysts recently issued reports on the company. Macquarie increased their target price on IMAX from $30.00 to $32.00 and gave the stock an "outperform" rating in a research note on Friday, April 25th. JPMorgan Chase & Co. reduced their price target on shares of IMAX from $27.00 to $26.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Benchmark restated a "buy" rating and set a $30.00 price objective on shares of IMAX in a report on Thursday, April 10th. Wall Street Zen raised shares of IMAX from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. Finally, Roth Capital reiterated a "buy" rating and set a $36.00 target price (up previously from $32.00) on shares of IMAX in a report on Friday, June 13th.

IMAX Price Performance

Shares of IMAX stock opened at $27.12 on Thursday. The stock has a market cap of $1.46 billion, a PE ratio of 57.70, a price-to-earnings-growth ratio of 1.73 and a beta of 0.80. The stock has a 50-day moving average of $26.89 and a 200-day moving average of $25.41. IMAX has a one year low of $16.33 and a one year high of $29.66.

IMAX (NYSE:IMAX - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.02. IMAX had a net margin of 6.98% and a return on equity of 7.79%. The company had revenue of $86.67 million for the quarter, compared to analyst estimates of $82.95 million. During the same period last year, the business posted $0.15 earnings per share. The business's revenue for the quarter was up 9.6% compared to the same quarter last year. As a group, research analysts anticipate that IMAX will post 0.91 earnings per share for the current year.

IMAX declared that its Board of Directors has authorized a stock buyback plan on Thursday, June 12th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the company to buy up to 6.5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued.

Institutional Trading of IMAX

Several institutional investors and hedge funds have recently bought and sold shares of IMAX. Neuberger Berman Group LLC raised its position in IMAX by 4.1% during the first quarter. Neuberger Berman Group LLC now owns 13,838 shares of the company's stock worth $365,000 after acquiring an additional 542 shares in the last quarter. Mission Wealth Management LP increased its stake in shares of IMAX by 2.9% during the 1st quarter. Mission Wealth Management LP now owns 30,408 shares of the company's stock worth $801,000 after purchasing an additional 845 shares during the last quarter. MetLife Investment Management LLC raised its holdings in shares of IMAX by 3.4% in the 4th quarter. MetLife Investment Management LLC now owns 25,918 shares of the company's stock valued at $664,000 after purchasing an additional 848 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake 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 valued at $625,000 after purchasing an additional 905 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in IMAX by 1.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 104,510 shares of the company's stock worth $2,754,000 after purchasing an additional 1,309 shares during the period. 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.

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