Brokerages Set IMAX Co. (NYSE:IMAX) PT at $30.56

Shares of IMAX Co. (NYSE:IMAX) have earned an average rating of “Buy” from the ten ratings firms that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $31.22.

A number of equities research analysts have recently issued reports on IMAX shares. StockNews.com raised shares of IMAX from a “hold” rating to a “buy” rating in a report on Friday. JPMorgan Chase & Co. decreased their target price on IMAX from $27.00 to $26.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. Rosenblatt Securities reaffirmed a “buy” rating and set a $35.00 price target on shares of IMAX in a report on Thursday, April 24th. Wells Fargo & Company decreased their price objective on shares of IMAX from $32.00 to $30.00 and set an “overweight” rating on the stock in a report on Thursday, April 24th. Finally, B. Riley initiated coverage on shares of IMAX in a research report on Friday. They issued a “buy” rating and a $36.00 price objective on the stock.

Hedge Funds Weigh In On IMAX

Several hedge funds have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of IMAX by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,486 shares of the company’s stock worth $672,000 after acquiring an additional 1,091 shares in the last quarter. AQR Capital Management LLC lifted its stake in IMAX by 47.9% during the first quarter. AQR Capital Management LLC now owns 56,348 shares of the company’s stock worth $1,485,000 after purchasing an additional 18,238 shares during the last quarter. PDT Partners LLC boosted its holdings in shares of IMAX by 36.1% in the 1st quarter. PDT Partners LLC now owns 138,674 shares of the company’s stock valued at $3,654,000 after purchasing an additional 36,807 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of IMAX in the 1st quarter valued at $4,814,000. Finally, Graham Capital Management L.P. bought a new position in shares of IMAX in the 1st quarter valued at $695,000. 93.51% of the stock is owned by institutional investors.

IMAX Stock Up 1.0%

Shares of IMAX stock opened at $27.20 on Wednesday. The company has a 50-day simple moving average of $24.66 and a 200 day simple moving average of $24.80. The stock has a market capitalization of $1.46 billion, a P/E ratio of 55.50, a price-to-earnings-growth ratio of 1.49 and a beta of 0.79. IMAX has a 12-month low of $14.94 and a 12-month high of $27.77.

IMAX (NYSE:IMAX) last posted its earnings results on Wednesday, April 23rd. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.02. The firm had revenue of $86.67 million for the quarter, compared to analyst estimates of $82.95 million. IMAX had a return on equity of 8.60% and a net margin of 7.40%. The company’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.15 earnings per share. On average, equities analysts anticipate that IMAX will post 0.91 earnings per share for the current year.

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.