IMAX (NYSE:IMAX) Raised to “Buy” at StockNews.com

by · The Markets Daily

StockNews.com upgraded shares of IMAX (NYSE:IMAX – Free Report) from a hold rating to a buy rating in a report issued on Thursday morning.

Other research analysts also recently issued reports about the company. JPMorgan Chase & Co. raised their price target on IMAX from $20.00 to $21.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. Rosenblatt Securities restated a “buy” rating and issued a $28.00 price target on shares of IMAX in a research note on Thursday, October 31st. Roth Mkm raised their price target on IMAX from $27.00 to $28.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Barrington Research reaffirmed an “outperform” rating and issued a $24.00 price objective on shares of IMAX in a research report on Thursday, October 31st. Finally, Seaport Res Ptn raised IMAX to a “strong-buy” rating in a research report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, IMAX currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.22.

Read Our Latest Stock Analysis on IMAX

IMAX Stock Down 0.9 %

Shares of NYSE:IMAX traded down $0.23 during mid-day trading on Thursday, reaching $24.49. 352,951 shares of the stock were exchanged, compared to its average volume of 773,506. The company has a market cap of $1.29 billion, a P/E ratio of 56.18, a P/E/G ratio of 1.82 and a beta of 1.22. IMAX has a one year low of $13.20 and a one year high of $25.28. The stock’s 50 day simple moving average is $21.00 and its 200-day simple moving average is $18.90.

IMAX (NYSE:IMAX – Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.12. The business had revenue of $91.50 million during the quarter, compared to the consensus estimate of $93.71 million. IMAX had a return on equity of 7.53% and a net margin of 6.74%. IMAX’s quarterly revenue was down 11.9% on a year-over-year basis. During the same period last year, the company earned $0.27 earnings per share. Analysts anticipate that IMAX will post 0.67 EPS for the current fiscal year.

Hedge Funds Weigh In On IMAX

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mutual of America Capital Management LLC raised its holdings in IMAX by 22.2% in the 3rd quarter. Mutual of America Capital Management LLC now owns 206,291 shares of the company’s stock valued at $4,231,000 after acquiring an additional 37,462 shares in the last quarter. Mizuho Markets Americas LLC increased its stake in shares of IMAX by 47.5% in the 3rd quarter. Mizuho Markets Americas LLC now owns 387,689 shares of the company’s stock valued at $7,952,000 after purchasing an additional 124,811 shares during the last quarter. Royce & Associates LP increased its stake in shares of IMAX by 3.1% in the 3rd quarter. Royce & Associates LP now owns 1,822,616 shares of the company’s stock valued at $37,382,000 after purchasing an additional 54,850 shares during the last quarter. Huntington National Bank bought a new position in shares of IMAX in the 3rd quarter valued at $34,000. Finally, Victory Capital Management Inc. increased its stake in shares of IMAX by 9.8% in the 3rd quarter. Victory Capital Management Inc. now owns 1,420,592 shares of the company’s stock valued at $29,136,000 after purchasing an additional 127,371 shares during the last quarter. 93.51% of the stock is owned by institutional investors and hedge funds.

About IMAX

(Get Free Report)

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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