IMAX’s (IMAX) “Outperform” Rating Reaffirmed at Wedbush

IMAX (NYSE:IMAX)‘s stock had its “outperform” rating reissued by investment analysts at Wedbush in a report issued on Wednesday,RTT News reports.

Several other analysts have also issued reports on IMAX. Barrington Research reiterated an “outperform” rating and issued a $24.00 target price on shares of IMAX in a research report on Thursday, October 31st. JPMorgan Chase & Co. lifted their price objective on IMAX from $20.00 to $21.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. Roth Mkm increased their target price on IMAX from $27.00 to $28.00 and gave the company a “buy” rating in a report on Thursday, October 31st. StockNews.com lowered IMAX from a “buy” rating to a “hold” rating in a research note on Thursday, November 21st. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $28.00 price objective on shares of IMAX in a research note on Thursday, October 31st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $24.22.

IMAX Price Performance

IMAX stock traded up $0.79 during trading on Wednesday, hitting $26.03. 1,270,358 shares of the company traded hands, compared to its average volume of 760,875. IMAX has a 1 year low of $13.20 and a 1 year high of $26.47. The stock’s 50-day simple moving average is $21.96 and its 200 day simple moving average is $19.65. The company has a market cap of $1.37 billion, a PE ratio of 59.16, a P/E/G ratio of 1.61 and a beta of 1.22.

IMAX (NYSE:IMAX) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.12. The company had revenue of $91.50 million during the quarter, compared to analysts’ expectations of $93.71 million. IMAX had a net margin of 6.74% and a return on equity of 7.53%. The firm’s revenue for the quarter was down 11.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.27 earnings per share. Research analysts expect that IMAX will post 0.78 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. Huntington National Bank purchased a new position in IMAX in the third quarter valued at $34,000. Headlands Technologies LLC acquired a new position in shares of IMAX during the second quarter worth about $35,000. Quarry LP increased its stake in shares of IMAX by 78,333.3% during the third quarter. Quarry LP now owns 2,353 shares of the company’s stock worth $48,000 after buying an additional 2,350 shares during the period. nVerses Capital LLC purchased a new stake in shares of IMAX in the 3rd quarter valued at approximately $70,000. Finally, Summit Securities Group LLC purchased a new stake in shares of IMAX during the 2nd quarter worth $80,000. 93.51% of the stock is currently owned by hedge funds and other 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.