IMAX (NYSE:IMAX) Raised to "Strong-Buy" at B. Riley

IMAX (NYSE:IMAX - Get Free Report) was upgraded by stock analysts at B. Riley to a "strong-buy" rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

Other equities analysts also recently issued research reports about the company. StockNews.com raised IMAX from a "hold" rating to a "buy" rating in a research report on Friday. Wedbush reaffirmed an "outperform" rating and set a $32.00 price target on shares of IMAX in a research report on Thursday, April 17th. Rosenblatt Securities reaffirmed a "buy" rating and set a $35.00 price target on shares of IMAX in a research report on Thursday, April 24th. Barrington Research reaffirmed an "outperform" rating and set a $32.00 price target on shares of IMAX in a research report on Thursday, April 24th. Finally, Benchmark reissued a "buy" rating and issued a $30.00 price objective on shares of IMAX in a report on Thursday, April 10th. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $31.22.

IMAX Stock Performance

NYSE IMAX opened at $27.20 on Thursday. The business has a 50 day simple moving average of $24.66 and a 200 day simple moving average of $24.80. IMAX has a 52-week low of $14.94 and a 52-week high of $27.77. The stock has a market cap of $1.46 billion, a price-to-earnings ratio of 55.50, a PEG ratio of 1.49 and a beta of 0.79.

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

Institutional Investors Weigh In On IMAX

A number of large investors have recently added to or reduced their stakes in IMAX. SG Americas Securities LLC bought a new stake in IMAX in the 4th quarter valued at $333,000. Janney Montgomery Scott LLC raised its stake in IMAX by 1.9% in the 4th quarter. Janney Montgomery Scott LLC now owns 29,176 shares of the company's stock valued at $747,000 after acquiring an additional 533 shares during the period. Hedges Asset Management LLC raised its stake in IMAX by 3.1% in the 4th quarter. Hedges Asset Management LLC now owns 83,600 shares of the company's stock valued at $2,140,000 after acquiring an additional 2,500 shares during the period. Blue Trust Inc. raised its stake in IMAX by 138.5% in the 4th quarter. Blue Trust Inc. now owns 966 shares of the company's stock valued at $25,000 after acquiring an additional 561 shares during the period. Finally, Calamos Advisors LLC bought a new stake in IMAX in the 4th quarter valued at $351,000. 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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