IMAX (NYSE:IMAX) Cut to Hold at StockNews.com

StockNews.com downgraded shares of IMAX (NYSE:IMAX) from a buy rating to a hold rating in a report published on Tuesday morning.

IMAX has been the subject of a number of other research reports. JPMorgan Chase & Co. raised their price objective on IMAX from $25.00 to $27.00 and gave the company a “neutral” rating in a research report on Friday, February 21st. Benchmark reiterated a “buy” rating and set a $30.00 price objective on shares of IMAX in a research report on Thursday, February 20th. Macquarie boosted their price objective on IMAX from $28.00 to $30.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. Wedbush reiterated an “outperform” rating and set a $32.00 price objective on shares of IMAX in a research report on Thursday, February 20th. Finally, Barrington Research raised their target price on shares of IMAX from $30.00 to $32.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $30.67.

IMAX Stock Performance

Shares of IMAX stock opened at $23.81 on Tuesday. The stock has a fifty day simple moving average of $24.67 and a two-hundred day simple moving average of $23.45. IMAX has a 52-week low of $14.94 and a 52-week high of $27.77. The firm has a market capitalization of $1.26 billion, a PE ratio of 48.58, a PEG ratio of 1.49 and a beta of 1.22.

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

Institutional Investors Weigh In On IMAX

A number of institutional investors and hedge funds have recently bought and sold shares of the company. FMR LLC lifted its holdings 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 buying an additional 558,940 shares during the period. Ameriprise Financial Inc. grew its position in shares of IMAX by 36.9% in the 4th quarter. Ameriprise Financial Inc. now owns 1,823,516 shares of the company’s stock worth $46,671,000 after buying an additional 491,172 shares during the last quarter. Royce & Associates LP raised its stake in shares of IMAX by 3.1% during the 3rd quarter. Royce & Associates LP now owns 1,822,616 shares of the company’s stock worth $37,382,000 after acquiring an additional 54,850 shares in the last quarter. Victory Capital Management Inc. lifted its position in IMAX by 9.8% during the third quarter. Victory Capital Management Inc. now owns 1,420,592 shares of the company’s stock valued at $29,136,000 after acquiring an additional 127,371 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its stake in IMAX by 45.4% in the fourth quarter. Wells Fargo & Company MN now owns 624,510 shares of the company’s stock valued at $15,987,000 after acquiring an additional 194,917 shares in the last quarter. 93.51% of the stock is owned by 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.