IMAX (NYSE:IMAX) Given “Outperform” Rating at Barrington Research

Barrington Research restated their outperform rating on shares of IMAX (NYSE:IMAX) in a research report released on Thursday, Benzinga reports. They currently have a $24.00 price objective on the stock.

IMAX has been the topic of several other research reports. Macquarie boosted their price objective on shares of IMAX from $24.00 to $26.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Roth Mkm restated a “buy” rating and set a $27.00 price target on shares of IMAX in a research note on Thursday, October 10th. B. Riley raised their price objective on IMAX from $27.00 to $30.00 and gave the stock a “buy” rating in a research report on Monday, July 8th. Wedbush boosted 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, JPMorgan Chase & Co. raised their target price on IMAX from $20.00 to $21.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, IMAX presently has an average rating of “Moderate Buy” and an average target price of $24.22.

IMAX Stock Down 1.0 %

IMAX opened at $24.06 on Thursday. The stock’s 50 day moving average price is $20.75 and its two-hundred day moving average price is $18.69. The firm has a market capitalization of $1.27 billion, a P/E ratio of 54.68, a price-to-earnings-growth ratio of 1.83 and a beta of 1.22. IMAX has a 12-month low of $13.20 and a 12-month high of $24.39.

IMAX (NYSE:IMAX) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.12. IMAX had a return on equity of 7.53% and a net margin of 6.74%. The company had revenue of $91.50 million during the quarter, compared to analysts’ expectations of $93.71 million. During the same period in the prior year, the business earned $0.27 earnings per share. IMAX’s revenue for the quarter was down 11.9% compared to the same quarter last year. As a group, analysts anticipate that IMAX will post 0.67 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. PNC Financial Services Group Inc. acquired a new stake in shares of IMAX during the 4th quarter worth about $33,000. Headlands Technologies LLC acquired a new stake in shares of IMAX during the second quarter worth approximately $35,000. nVerses Capital LLC bought a new position in shares of IMAX in the third quarter valued at approximately $70,000. Summit Securities Group LLC acquired a new position in shares of IMAX in the 2nd quarter worth approximately $80,000. Finally, Laurus Investment Counsel Inc. bought a new stake in IMAX during the 2nd quarter worth approximately $150,000. 93.51% of the stock is owned by institutional investors.

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.