IMAX (NYSE:IMAX) Price Target Increased to $27.00 by Analysts at Roth Mkm

IMAX (NYSE:IMAX) had its target price lifted by Roth Mkm from $23.00 to $27.00 in a report released on Friday morning, Benzinga reports. They currently have a buy rating on the stock.

A number of other brokerages also recently issued reports on IMAX. Seaport Res Ptn raised shares of IMAX to a strong-buy rating in a research report on Wednesday, July 24th. B. Riley boosted their target price on shares of IMAX from $27.00 to $30.00 and gave the stock a buy rating in a research report on Monday, July 8th. Rosenblatt Securities boosted their target price on shares of IMAX from $25.00 to $28.00 and gave the stock a buy rating in a research report on Friday. Benchmark reissued a buy rating and set a $22.00 target price on shares of IMAX in a research report on Thursday, June 20th. Finally, Wedbush boosted their target price on shares of IMAX from $22.00 to $24.00 and gave the stock an outperform rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus target price of $23.56.

IMAX Stock Down 0.9 %

Shares of IMAX stock opened at $19.90 on Friday. The firm’s 50 day moving average price is $16.81 and its 200-day moving average price is $16.18. IMAX has a 52-week low of $13.20 and a 52-week high of $20.77. The company has a market cap of $1.05 billion, a P/E ratio of 41.46, a PEG ratio of 1.80 and a beta of 1.26.

IMAX (NYSE:IMAX) last issued its quarterly earnings data on Thursday, July 25th. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.11. IMAX had a net margin of 5.97% and a return on equity of 7.78%. The firm had revenue of $88.96 million for the quarter, compared to the consensus estimate of $74.52 million. During the same quarter in the previous year, the firm earned $0.17 EPS. The company’s quarterly revenue was down 9.2% compared to the same quarter last year. As a group, equities research analysts forecast that IMAX will post 0.56 EPS for the current fiscal year.

Institutional Trading of IMAX

Several institutional investors and hedge funds have recently bought and sold shares of the business. Principal Financial Group Inc. lifted its stake in IMAX by 18.5% during the 2nd quarter. Principal Financial Group Inc. now owns 63,818 shares of the company’s stock valued at $1,070,000 after acquiring an additional 9,974 shares during the period. Summit Securities Group LLC acquired a new stake in IMAX during the 2nd quarter valued at approximately $80,000. Bank of New York Mellon Corp lifted its stake in IMAX by 90.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 587,694 shares of the company’s stock valued at $9,856,000 after acquiring an additional 279,410 shares during the period. Laurus Investment Counsel Inc. acquired a new position in shares of IMAX in the 2nd quarter valued at $150,000. Finally, Private Capital Management LLC lifted its stake in shares of IMAX by 10.0% in the 1st quarter. Private Capital Management LLC now owns 1,304,364 shares of the company’s stock valued at $21,092,000 after purchasing an additional 118,649 shares during the period. 93.51% of the stock is currently owned by institutional investors and hedge funds.

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.