IMAX (NYSE:IMAX) Lowered to “Hold” Rating by StockNews.com

StockNews.com lowered shares of IMAX (NYSE:IMAX) from a buy rating to a hold rating in a research note released on Thursday morning.

Several other equities research analysts have also recently issued reports on the stock. Rosenblatt Securities reiterated a “buy” rating and set a $28.00 price objective on shares of IMAX in a research report on Thursday, October 31st. Macquarie lifted their price target on shares of IMAX from $24.00 to $26.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Wedbush increased their price objective on shares of IMAX from $24.00 to $26.00 and gave the company an “outperform” rating in a report on Tuesday, September 3rd. Seaport Res Ptn upgraded IMAX to a “strong-buy” rating in a research report on Wednesday, July 24th. Finally, Roth Mkm boosted their target price on IMAX from $27.00 to $28.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. One analyst has rated the stock with a sell rating, two have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $24.22.

IMAX Stock Performance

IMAX opened at $24.60 on Thursday. IMAX has a fifty-two week low of $13.20 and a fifty-two week high of $25.28. The stock has a market cap of $1.30 billion, a price-to-earnings ratio of 55.90, a price-to-earnings-growth ratio of 1.63 and a beta of 1.22. The firm’s fifty day moving average is $21.68 and its 200 day moving average is $19.43.

IMAX (NYSE:IMAX) last released its earnings results on Wednesday, October 30th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.12. IMAX had a return on equity of 7.53% and a net margin of 6.74%. The firm had revenue of $91.50 million during the quarter, compared to analysts’ expectations of $93.71 million. During the same quarter last year, the business posted $0.27 earnings per share. The firm’s revenue was down 11.9% on a year-over-year basis. On average, equities research analysts predict that IMAX will post 0.76 earnings per share for the current year.

Hedge Funds Weigh In On IMAX

Large investors have recently modified their holdings of the stock. Huntington National Bank bought a new position in IMAX during the third quarter valued at $34,000. Headlands Technologies LLC purchased a new position in shares of IMAX during the 2nd quarter worth about $35,000. Quarry LP grew its holdings in IMAX by 78,333.3% during the 3rd quarter. Quarry LP now owns 2,353 shares of the company’s stock valued at $48,000 after purchasing an additional 2,350 shares during the last quarter. nVerses Capital LLC purchased a new stake in IMAX in the 3rd quarter worth about $70,000. Finally, Summit Securities Group LLC bought a new stake in IMAX in the second quarter worth about $80,000. Institutional investors 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.