IMAX (NYSE:IMAX) PT Raised to $26.00

IMAX (NYSE:IMAX) had its price objective boosted by Macquarie from $24.00 to $26.00 in a report released on Friday, Benzinga reports. The firm currently has an outperform rating on the stock.

A number of other equities analysts have also recently issued reports on the company. Seaport Res Ptn upgraded IMAX to a strong-buy rating in a report on Wednesday, July 24th. Roth Mkm increased their price objective on shares of IMAX from $22.00 to $23.00 and gave the stock a buy rating in a research note on Thursday, July 18th. B. Riley raised their target price on shares of IMAX from $27.00 to $30.00 and gave the company a buy rating in a research note on Monday, July 8th. Rosenblatt Securities reiterated a buy rating and issued a $25.00 target price on shares of IMAX in a research note on Monday, June 17th. Finally, Barrington Research reiterated an outperform rating and issued a $25.00 target price on shares of IMAX in a research note on Friday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $23.56.

IMAX Trading Down 0.9 %

IMAX stock opened at $19.90 on Friday. The stock has a 50-day moving average price of $16.81 and a two-hundred day moving average price of $16.18. The stock has a market cap of $1.05 billion, a PE ratio of 41.46, a price-to-earnings-growth ratio of 1.80 and a beta of 1.26. IMAX has a 1 year low of $13.20 and a 1 year high of $20.77.

IMAX (NYSE:IMAX) last released its earnings results on Thursday, July 25th. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.11. The firm had revenue of $88.96 million during the quarter, compared to analysts’ expectations of $74.52 million. IMAX had a return on equity of 7.78% and a net margin of 5.97%. The company’s revenue was down 9.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.17 EPS. On average, analysts forecast that IMAX will post 0.56 earnings per share for the current fiscal year.

Institutional Investors Weigh In On IMAX

Hedge funds have recently bought and sold shares of the stock. PNC Financial Services Group Inc. acquired a new stake in IMAX during the fourth quarter worth approximately $33,000. Tower Research Capital LLC TRC lifted its position in IMAX by 545.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,992 shares of the company’s stock worth $75,000 after acquiring an additional 4,218 shares during the last quarter. Summit Securities Group LLC acquired a new stake in IMAX during the second quarter worth approximately $80,000. Partnership Wealth Management LLC acquired a new stake in IMAX during the fourth quarter worth approximately $111,000. Finally, Laurus Investment Counsel Inc. acquired a new stake in IMAX during the second quarter worth approximately $150,000. 93.51% of the stock is currently owned by institutional investors and hedge funds.

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.