IMAX Corporation (NYSE:IMAX) Receives Average Rating of "Moderate Buy" from Brokerages

Key Points

• Analyst consensus: IMAX has a "Moderate Buy" consensus from 11 analysts (10 buys, 1 hold) with an average 12‑month target price of $43.70.
• Quarterly beat: IMAX reported $0.58 EPS vs. $0.43 expected and revenue of $125.21M (versus $120.30M expected), with revenue up 35.1% year‑over‑year.
• Market and ownership profile: the stock opened at $39.56, has a market cap of $2.14 billion and a high PE of 63.81, and institutional investors own roughly 93.5% of the shares.

Shares of IMAX Corporation (NYSE:IMAX - Get Free Report) have earned a consensus rating of "Moderate Buy" from the eleven analysts that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $43.70.

A number of equities analysts have recently issued reports on the stock. Benchmark increased their price objective on shares of IMAX from $42.00 to $44.00 and gave the stock a "buy" rating in a research report on Thursday, February 26th. Roth Mkm reaffirmed a "buy" rating and issued a $42.00 target price on shares of IMAX in a research report on Monday, December 8th. The Goldman Sachs Group upped their price target on IMAX from $37.00 to $41.00 and gave the stock a "neutral" rating in a research note on Monday, March 2nd. Wells Fargo & Company raised their price objective on IMAX from $40.00 to $47.00 and gave the company an "overweight" rating in a research note on Thursday, December 18th. Finally, B. Riley Financial restated a "buy" rating on shares of IMAX in a report on Monday, December 8th.

IMAX Stock Down 3.0%

IMAX stock opened at $39.56 on Tuesday. The company has a market capitalization of $2.14 billion, a PE ratio of 63.81, a PEG ratio of 1.92 and a beta of 0.33. IMAX has a 12-month low of $20.48 and a 12-month high of $43.16. The firm's fifty day moving average is $36.84 and its 200 day moving average is $34.74.

IMAX (NYSE:IMAX - Get Free Report) last posted its quarterly earnings results on Wednesday, February 25th. The company reported $0.58 EPS for the quarter, topping analysts' consensus estimates of $0.43 by $0.15. IMAX had a net margin of 8.50% and a return on equity of 13.53%. The business had revenue of $125.21 million during the quarter, compared to analysts' expectations of $120.30 million. During the same period last year, the company posted $0.27 earnings per share. The business's quarterly revenue was up 35.1% on a year-over-year basis. Sell-side analysts expect that IMAX will post 0.91 EPS for the current fiscal year.

Institutional Trading of IMAX

A number of hedge funds and other institutional investors have recently bought and sold shares of IMAX. AQR Capital Management LLC grew its holdings in shares of IMAX by 47.9% during the first quarter. AQR Capital Management LLC now owns 56,348 shares of the company's stock valued at $1,485,000 after buying an additional 18,238 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of IMAX by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,486 shares of the company's stock worth $672,000 after acquiring an additional 1,091 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in IMAX by 7.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 159,714 shares of the company's stock valued at $4,208,000 after acquiring an additional 11,736 shares in the last quarter. Bank of New York Mellon Corp lifted its position in IMAX by 0.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 267,331 shares of the company's stock valued at $7,475,000 after acquiring an additional 2,343 shares in the last quarter. Finally, RWA Wealth Partners LLC acquired a new position in IMAX during the 2nd quarter valued at about $701,000. Institutional investors own 93.51% of the company's stock.

About IMAX

IMAX Corporation is a global leader in immersive entertainment technologies, specializing in the design, manufacture and distribution of high-resolution cameras, projectors, and proprietary software solutions that enhance both film production and theatrical exhibition. The company licenses its premium large-format system to theatre owners and filmmakers around the world, enabling audiences to experience movies with greater clarity, scale and sound fidelity. IMAX also offers turnkey theatre development services, assisting cinema operators with auditorium design, installation and custom branding to optimize the customer experience.

Founded in 1967 and headquartered in Mississauga, Ontario, IMAX has built a reputation for pioneering film-format innovations, including its patented dual 15-perforation, 70-millimeter projection system.

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