IMAX (NYSE:IMAX) Stock Price Expected to Rise, Macquarie Analyst Says

IMAX (NYSE:IMAX - Free Report) had its price objective hoisted by Macquarie from $30.00 to $32.00 in a research report report published on Friday morning,Benzinga reports. They currently have an outperform rating on the stock.

Other analysts also recently issued reports about the stock. Wedbush reaffirmed an "outperform" rating and set a $32.00 price objective on shares of IMAX in a report on Thursday, April 17th. Barrington Research reaffirmed an "outperform" rating and issued a $32.00 target price on shares of IMAX in a research note on Thursday, April 24th. JPMorgan Chase & Co. decreased their target price on shares of IMAX from $27.00 to $26.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. StockNews.com lowered shares of IMAX from a "buy" rating to a "hold" rating in a research report on Thursday, March 27th. Finally, Benchmark reissued a "buy" rating and issued a $30.00 target price on shares of IMAX in a research note on Thursday, April 10th. One analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $30.56.

IMAX Stock Performance

Shares of IMAX stock remained flat at $24.40 during trading on Friday. 237,402 shares of the stock traded hands, compared to its average volume of 754,336. The stock has a market capitalization of $1.31 billion, a price-to-earnings ratio of 49.80, a price-to-earnings-growth ratio of 1.49 and a beta of 0.91. IMAX has a 52-week low of $14.94 and a 52-week high of $27.77. The company's 50 day moving average price is $24.58 and its 200-day moving average price is $24.38.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IMAX. FMR LLC boosted its stake in shares of IMAX by 14.2% in the 4th quarter. FMR LLC now owns 4,508,583 shares of the company's stock worth $115,420,000 after buying an additional 558,940 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in shares of IMAX by 36.9% in the 4th quarter. Ameriprise Financial Inc. now owns 1,823,516 shares of the company's stock worth $46,671,000 after purchasing an additional 491,172 shares during the period. Wells Fargo & Company MN boosted its holdings in shares of IMAX by 45.4% in the fourth quarter. Wells Fargo & Company MN now owns 624,510 shares of the company's stock worth $15,987,000 after buying an additional 194,917 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of IMAX by 11.0% during the 4th quarter. Vanguard Group Inc. now owns 612,115 shares of the company's stock worth $15,670,000 after acquiring an additional 60,762 shares during the last quarter. Finally, Oberweis Asset Management Inc. grew its position in shares of IMAX by 29.7% during the 4th quarter. Oberweis Asset Management Inc. now owns 579,600 shares of the company's stock valued at $14,838,000 after acquiring an additional 132,600 shares during the period. Institutional investors own 93.51% of the company's stock.

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.