Roth Mkm Reiterates Buy Rating for IMAX (NYSE:IMAX)

IMAX (NYSE:IMAX)‘s stock had its “buy” rating reiterated by analysts at Roth Mkm in a research report issued on Thursday, Benzinga reports. They currently have a $27.00 price objective on the stock. Roth Mkm’s target price would suggest a potential upside of 24.42% from the company’s previous close.

Several other brokerages also recently issued reports on IMAX. B. Riley upped their price objective on IMAX from $27.00 to $30.00 and gave the company a “buy” rating in a research report on Monday, July 8th. Seaport Res Ptn raised shares of IMAX to a “strong-buy” rating in a research note on Wednesday, July 24th. Rosenblatt Securities reissued a “buy” rating and set a $28.00 price target on shares of IMAX in a research note on Friday, October 4th. Wedbush lifted their price objective on IMAX from $24.00 to $26.00 and gave the company an “outperform” rating in a research report on Tuesday, September 3rd. Finally, Benchmark reiterated a “buy” rating and issued a $22.00 target price on shares of IMAX in a research note on Thursday, June 20th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $23.67.

IMAX Stock Performance

Shares of IMAX stock opened at $21.70 on Thursday. The stock has a fifty day moving average price of $20.48 and a 200 day moving average price of $18.17. The stock has a market cap of $1.14 billion, a PE ratio of 54.25, a P/E/G ratio of 1.41 and a beta of 1.25. IMAX has a 1 year low of $13.20 and a 1 year high of $22.13.

IMAX (NYSE:IMAX) last released its quarterly earnings results on Thursday, July 25th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.11. The business had revenue of $88.96 million during the quarter, compared to the consensus estimate of $74.52 million. IMAX had a return on equity of 7.78% and a net margin of 5.97%. The business’s revenue was down 9.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.17 EPS. As a group, equities research analysts predict that IMAX will post 0.69 earnings per share for the current year.

Institutional Trading of IMAX

A number of institutional investors and hedge funds have recently bought and sold shares of IMAX. Lombard Odier Asset Management USA Corp acquired a new stake in IMAX in the 2nd quarter valued at $300,000. Thrivent Financial for Lutherans grew its stake in shares of IMAX by 5.5% in the second quarter. Thrivent Financial for Lutherans now owns 819,325 shares of the company’s stock valued at $13,740,000 after buying an additional 42,952 shares in the last quarter. XTX Topco Ltd purchased a new stake in shares of IMAX during the 2nd quarter valued at about $208,000. American Century Companies Inc. lifted its position in IMAX by 57.0% during the 2nd quarter. American Century Companies Inc. now owns 120,021 shares of the company’s stock worth $2,013,000 after acquiring an additional 43,584 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new position in IMAX in the 2nd quarter worth approximately $35,000. Institutional investors and hedge funds 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.