IMAX Co. (NYSE:IMAX) Given Average Recommendation of “Buy” by Brokerages

Shares of IMAX Co. (NYSE:IMAX) have received a consensus rating of “Buy” from the ten ratings firms that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $30.67.

A number of equities research analysts have recently commented on the stock. Rosenblatt Securities upped their price objective on shares of IMAX from $28.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Wedbush reiterated an “outperform” rating and set a $32.00 price target on shares of IMAX in a report on Thursday, February 20th. Benchmark reissued a “buy” rating and issued a $30.00 price objective on shares of IMAX in a research report on Thursday, February 20th. Macquarie raised their target price on IMAX from $28.00 to $30.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. Finally, JPMorgan Chase & Co. boosted their price target on IMAX from $25.00 to $27.00 and gave the company a “neutral” rating in a research note on Friday, February 21st.

IMAX Stock Up 1.1 %

Shares of NYSE:IMAX opened at $27.06 on Tuesday. The firm has a market cap of $1.43 billion, a P/E ratio of 55.22, a P/E/G ratio of 1.49 and a beta of 1.22. IMAX has a 12-month low of $14.94 and a 12-month high of $27.77. The business has a fifty day simple moving average of $24.91 and a 200 day simple moving average of $23.70.

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

Institutional Investors Weigh In On IMAX

Institutional investors and hedge funds have recently bought and sold shares of the stock. Polar Asset Management Partners Inc. grew its stake in shares of IMAX by 191.6% during the 4th quarter. Polar Asset Management Partners Inc. now owns 204,536 shares of the company’s stock worth $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 increased its holdings in IMAX by 87.3% during the 4th 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 acquiring an additional 68,957 shares during the period. Squarepoint Ops LLC purchased a new stake in IMAX in the 4th quarter worth approximately $999,000. Two Sigma Investments LP purchased a new position in IMAX during the fourth quarter worth about $2,411,000. Finally, State of Wyoming raised its holdings in shares of IMAX by 184.6% in the 4th quarter. State of Wyoming now owns 21,606 shares of the company’s stock valued at $553,000 after acquiring an additional 14,014 shares in the last quarter. 93.51% of the stock is owned by hedge funds and other institutional investors.

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.