B. Riley Cuts IMAX (NYSE:IMAX) Price Target to $25.00

IMAX (NYSE:IMAX – Get Rating) had its target price decreased by B. Riley from $30.00 to $25.00 in a research note released on Tuesday, The Fly reports. B. Riley currently has a buy rating on the stock.

IMAX has been the subject of a number of other reports. Benchmark reaffirmed a buy rating and set a $28.00 target price on shares of IMAX in a research report on Thursday, February 24th. Rosenblatt Securities began coverage on IMAX in a research report on Monday, May 23rd. They issued a buy rating and a $25.00 price target for the company. TheStreet lowered IMAX from a c rating to a d+ rating in a research report on Friday, April 29th. StockNews.com began coverage on IMAX in a research report on Thursday, March 31st. They issued a hold rating for the company. Finally, Barrington Research reduced their price target on IMAX from $25.00 to $20.00 in a research report on Monday, May 2nd. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $24.13.

Shares of IMAX stock opened at $15.35 on Tuesday. IMAX has a 52-week low of $13.60 and a 52-week high of $23.26. The firm has a market capitalization of $898.31 million, a P/E ratio of -42.64, a P/E/G ratio of 5.28 and a beta of 1.46. The stock has a 50 day moving average price of $16.00 and a 200 day moving average price of $17.58.

IMAX (NYSE:IMAX – Get Rating) last issued its earnings results on Thursday, April 28th. The company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.08). The firm had revenue of $60.04 million for the quarter, compared to the consensus estimate of $59.02 million. IMAX had a negative net margin of 7.64% and a negative return on equity of 5.49%. The company’s revenue for the quarter was up 54.9% on a year-over-year basis. During the same period last year, the firm earned ($0.34) earnings per share. On average, equities research analysts anticipate that IMAX will post 0.14 earnings per share for the current fiscal year.

A number of hedge funds have recently made changes to their positions in IMAX. Point72 Hong Kong Ltd purchased a new position in IMAX during the 4th quarter worth $29,000. Harbor Investment Advisory LLC purchased a new stake in IMAX during the 1st quarter valued at about $32,000. National Bank of Canada FI purchased a new stake in IMAX during the 4th quarter valued at about $46,000. Lazard Asset Management LLC purchased a new stake in IMAX during the 1st quarter valued at about $166,000. Finally, Bridgefront Capital LLC purchased a new stake in IMAX during the 4th quarter valued at about $180,000. Hedge funds and other institutional investors own 91.17% of the company’s stock.

About IMAX (Get Rating)

IMAX Corporation, together with its subsidiaries, operates as an entertainment technology company worldwide. It offers cinematic solution through proprietary software, theater architecture, intellectual property, and specialized equipment. The company offers IMAX Digital Re-Mastering (DMR), a proprietary technology that digitally enhances the image resolution, visual clarity, and sound quality of motion picture films for projection on IMAX screens; IMAX theater systems to exhibitor customers through sales, leases, and joint revenue sharing arrangements; and digital projection systems.

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