IMAX (NYSE:IMAX) Receives “Outperform” Rating from Wedbush

Wedbush reiterated their outperform rating on shares of IMAX (NYSE:IMAX) in a research note issued to investors on Wednesday,RTT News reports.

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

IMAX Stock Up 3.1 %

NYSE:IMAX opened at $26.01 on Wednesday. IMAX has a 52 week low of $13.20 and a 52 week high of $26.47. The firm has a 50 day moving average of $21.96 and a 200 day moving average of $19.65. The stock has a market capitalization of $1.37 billion, a price-to-earnings ratio of 59.16, a PEG ratio of 1.61 and a beta of 1.22.

IMAX (NYSE:IMAX) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.12. The business had revenue of $91.50 million for the quarter, compared to analyst estimates of $93.71 million. IMAX had a net margin of 6.74% and a return on equity of 7.53%. IMAX’s revenue for the quarter was down 11.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.27 EPS. As a group, analysts expect that IMAX will post 0.78 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Huntington National Bank acquired a new position in shares of IMAX in the third quarter valued at approximately $34,000. Headlands Technologies LLC purchased a new stake in shares of IMAX during the 2nd quarter worth approximately $35,000. Quarry LP lifted its position in shares of IMAX by 78,333.3% during the 3rd 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 last quarter. nVerses Capital LLC purchased a new stake in shares of IMAX during the 3rd quarter worth approximately $70,000. Finally, Summit Securities Group LLC acquired a new position in shares of IMAX in the 2nd quarter valued at $80,000. Institutional investors and hedge funds own 93.51% of the company’s stock.

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.