IMAX (NYSE:IMAX) Trading 2.1% Higher – What’s Next?

IMAX Co. (NYSE:IMAX)’s share price was up 2.1% during trading on Monday . The company traded as high as $24.88 and last traded at $24.84. Approximately 85,546 shares traded hands during mid-day trading, a decline of 88% from the average daily volume of 719,441 shares. The stock had previously closed at $24.32.

Analyst Ratings Changes

IMAX has been the subject of several recent analyst reports. Wedbush reaffirmed an “outperform” rating and issued a $32.00 target price on shares of IMAX in a report on Thursday, February 20th. Barrington Research boosted their target price on IMAX from $30.00 to $32.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. Wells Fargo & Company boosted their price target on IMAX from $26.00 to $32.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. Macquarie upped their price target on shares of IMAX from $28.00 to $30.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. Finally, Benchmark reiterated a “buy” rating and issued a $30.00 target price on shares of IMAX in a report on Thursday, February 20th. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $30.67.

IMAX Stock Up 0.6 %

The stock has a market capitalization of $1.30 billion, a price-to-earnings ratio of 49.93, a P/E/G ratio of 1.49 and a beta of 0.91. The stock has a fifty day moving average of $25.48 and a 200-day moving average of $24.06.

IMAX (NYSE:IMAX) last released its quarterly earnings results on Wednesday, February 19th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.14). The company had revenue of $92.67 million for the quarter, compared to analysts’ expectations of $104.08 million. IMAX had a return on equity of 8.60% and a net margin of 7.40%. On average, equities analysts forecast that IMAX Co. will post 0.91 EPS for the current fiscal year.

Institutional Trading of IMAX

Hedge funds and other institutional investors have recently bought and sold shares of the company. FMR LLC increased its stake in IMAX by 14.2% during the fourth quarter. FMR LLC now owns 4,508,583 shares of the company’s stock worth $115,420,000 after acquiring an additional 558,940 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in IMAX by 36.9% during the 4th quarter. Ameriprise Financial Inc. now owns 1,823,516 shares of the company’s stock worth $46,671,000 after purchasing an additional 491,172 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in IMAX in the fourth quarter valued at $9,143,000. Lord Abbett & CO. LLC acquired a new position in IMAX in the third quarter worth about $6,322,000. Finally, Pier Capital LLC increased its holdings in shares of IMAX by 132.6% in the 4th quarter. Pier Capital LLC now owns 478,760 shares of the company’s stock valued at $12,256,000 after acquiring an additional 272,949 shares during the last quarter. 93.51% of the stock is owned by hedge funds and other institutional investors.

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.