IMAX (NYSE:IMAX) PT Raised to $26.00 at Macquarie

IMAX (NYSE:IMAX) had its price objective lifted by Macquarie from $24.00 to $26.00 in a research report report published on Friday, Benzinga reports. Macquarie currently has an outperform rating on the stock.

A number of other research firms have also recently issued reports on IMAX. Wedbush reissued an outperform rating and set a $22.00 price objective on shares of IMAX in a research report on Thursday, July 18th. Roth Mkm boosted their price target on IMAX from $22.00 to $23.00 and gave the stock a buy rating in a research report on Thursday, July 18th. Benchmark reaffirmed a buy rating and issued a $22.00 price target on shares of IMAX in a research report on Thursday, June 20th. Barrington Research reaffirmed an outperform rating and issued a $25.00 price target on shares of IMAX in a research report on Friday. Finally, Rosenblatt Securities reaffirmed a buy rating and issued a $25.00 price target on shares of IMAX in a research report on Monday, June 17th. One analyst has rated the stock with a sell rating, two have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $23.56.

IMAX Trading Down 0.9 %

IMAX opened at $19.90 on Friday. The stock has a market cap of $1.05 billion, a price-to-earnings ratio of 41.46, a PEG ratio of 1.80 and a beta of 1.26. IMAX has a 1 year low of $13.20 and a 1 year high of $20.77. The stock has a fifty day moving average price of $16.81 and a 200 day moving average price of $16.18.

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

Hedge Funds Weigh In On IMAX

A number of institutional investors have recently made changes to their positions in the business. Principal Financial Group Inc. increased its stake in shares of IMAX by 18.5% in the second quarter. Principal Financial Group Inc. now owns 63,818 shares of the company’s stock worth $1,070,000 after purchasing an additional 9,974 shares during the period. Summit Securities Group LLC bought a new position in shares of IMAX in the second quarter worth about $80,000. Bank of New York Mellon Corp increased its stake in shares of IMAX by 90.6% in the second quarter. Bank of New York Mellon Corp now owns 587,694 shares of the company’s stock worth $9,856,000 after purchasing an additional 279,410 shares during the period. Laurus Investment Counsel Inc. bought a new position in IMAX during the second quarter valued at about $150,000. Finally, Private Capital Management LLC increased its stake in IMAX by 10.0% during the first quarter. Private Capital Management LLC now owns 1,304,364 shares of the company’s stock valued at $21,092,000 after acquiring an additional 118,649 shares during the period. 93.51% of the stock is currently owned by institutional investors.

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.