IMAX Co. (NYSE:IMAX) Receives Consensus Rating of “Buy” from Brokerages

IMAX Co. (NYSE:IMAX) has earned an average recommendation of “Buy” from the ten brokerages that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $30.67.

Several research firms recently weighed in on IMAX. Wells Fargo & Company upped their price target on IMAX from $26.00 to $32.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. JPMorgan Chase & Co. raised their price target on IMAX from $25.00 to $27.00 and gave the company a “neutral” rating in a report on Friday, February 21st. Benchmark reiterated a “buy” rating and issued a $30.00 price target on shares of IMAX in a research note on Thursday, February 20th. StockNews.com upgraded shares of IMAX from a “hold” rating to a “buy” rating in a research note on Wednesday, March 19th. Finally, Macquarie upped their target price on shares of IMAX from $28.00 to $30.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th.

IMAX Trading Up 1.1 %

Shares of NYSE:IMAX opened at $27.06 on Tuesday. IMAX has a 12 month low of $14.94 and a 12 month high of $27.77. The company has a market cap of $1.43 billion, a price-to-earnings ratio of 55.22, a price-to-earnings-growth ratio of 1.49 and a beta of 1.22. The company has a 50-day moving average price of $24.91 and a 200-day moving average price of $23.70.

IMAX (NYSE:IMAX) last posted its earnings results on Wednesday, February 19th. The company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.14). IMAX had a return on equity of 8.60% and a net margin of 7.40%. The firm had revenue of $92.67 million for the quarter, compared to analysts’ expectations of $104.08 million. As a group, research analysts forecast that IMAX will post 0.91 EPS for the current fiscal year.

Institutional Trading of IMAX

Several large investors have recently modified their holdings of the company. Polar Asset Management Partners Inc. lifted its holdings in IMAX by 191.6% in the fourth quarter. Polar Asset Management Partners Inc. now owns 204,536 shares of the company’s stock valued at $5,236,000 after acquiring an additional 134,389 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of IMAX by 87.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 147,978 shares of the company’s stock worth $3,788,000 after buying an additional 68,957 shares during the last quarter. Squarepoint Ops LLC purchased a new position in shares of IMAX in the fourth quarter worth approximately $999,000. Two Sigma Investments LP bought a new stake in IMAX during the fourth quarter valued at approximately $2,411,000. Finally, State of Wyoming increased its holdings in IMAX by 184.6% during the fourth quarter. State of Wyoming now owns 21,606 shares of the company’s stock valued at $553,000 after buying an additional 14,014 shares during the last quarter. 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.