IMAX (NYSE:IMAX) Earns Outperform Rating from Wedbush

IMAX (NYSE:IMAX - Get Free Report)'s stock had its "outperform" rating restated by stock analysts at Wedbush in a report released on Friday,RTT News reports.

A number of other equities research analysts also recently commented on IMAX. JPMorgan Chase & Co. decreased their target price on IMAX from $27.00 to $26.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Roth Capital reiterated a "buy" rating and set a $36.00 target price on shares of IMAX in a research report on Wednesday. Benchmark restated a "buy" rating on shares of IMAX in a research report on Wednesday. Rosenblatt Securities reiterated a "buy" rating and set a $35.00 price objective on shares of IMAX in a research report on Friday. Finally, Wells Fargo & Company reduced their target price on shares of IMAX from $32.00 to $30.00 and set an "overweight" rating on the stock in a report on Thursday, April 24th. One analyst has rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, IMAX currently has an average rating of "Buy" and a consensus price target of $31.70.

IMAX Stock Performance

Shares of IMAX stock traded up $0.71 on Friday, reaching $26.88. The stock had a trading volume of 1,003,931 shares, compared to its average volume of 791,771. IMAX has a 1 year low of $16.87 and a 1 year high of $29.66. The stock has a market cap of $1.44 billion, a P/E ratio of 57.19, a price-to-earnings-growth ratio of 1.67 and a beta of 0.80. The company has a 50 day simple moving average of $27.26 and a 200 day simple moving average of $25.50.

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

IMAX declared that its Board of Directors has approved 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 repurchase up to 6.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's leadership believes its stock is undervalued.

Institutional Trading of IMAX

Several large investors have recently added to or reduced their stakes in the company. Polar Asset Management Partners Inc. boosted its stake in shares of IMAX by 191.6% in the fourth quarter. Polar Asset Management Partners Inc. now owns 204,536 shares of the company's stock worth $5,236,000 after buying an additional 134,389 shares during the last quarter. North Star Investment Management Corp. acquired a new position in IMAX in the first quarter valued at approximately $290,000. Deutsche Bank AG boosted its position in IMAX by 765.1% in the 4th quarter. Deutsche Bank AG now owns 241,930 shares of the company's stock worth $6,193,000 after purchasing an additional 213,965 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of IMAX by 2,361.4% during the 1st quarter. GAMMA Investing LLC now owns 40,342 shares of the company's stock worth $10,630,000 after purchasing an additional 38,703 shares during the period. Finally, BNP Paribas Financial Markets grew its stake in shares of IMAX by 267.2% during the 4th quarter. BNP Paribas Financial Markets now owns 96,062 shares of the company's stock worth $2,459,000 after purchasing an additional 69,901 shares during the period. Hedge funds and other 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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