Wedbush Reiterates “Outperform” Rating for IMAX (NYSE:IMAX)

IMAX (NYSE:IMAX)‘s stock had its “outperform” rating reaffirmed by Wedbush in a research report issued on Thursday,RTT News reports. They currently have a $32.00 price objective on the stock. Wedbush’s price objective would suggest a potential upside of 42.44% from the stock’s previous close.

IMAX has been the topic of several other reports. Benchmark reissued a “buy” rating and issued a $30.00 price objective on shares of IMAX in a report on Thursday, April 10th. JPMorgan Chase & Co. cut their price target on shares of IMAX from $27.00 to $26.00 and set a “neutral” rating for the company in a report on Friday, April 11th. Rosenblatt Securities reiterated a “buy” rating and issued a $35.00 target price on shares of IMAX in a research report on Thursday, April 10th. Wells Fargo & Company upped their price target on shares of IMAX from $26.00 to $32.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. Finally, 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. 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $30.56.

IMAX Trading Up 3.2 %

Shares of NYSE:IMAX opened at $22.47 on Thursday. The company has a market capitalization of $1.19 billion, a PE ratio of 45.85, a PEG ratio of 1.49 and a beta of 0.91. IMAX has a 12-month low of $14.94 and a 12-month high of $27.77. The business has a 50 day moving average of $25.03 and a two-hundred day moving average of $24.18.

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). IMAX had a net margin of 7.40% and a return on equity of 8.60%. The firm had revenue of $92.67 million for the quarter, compared to analyst estimates of $104.08 million. Equities research analysts predict that IMAX will post 0.91 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Janney Montgomery Scott LLC raised its stake in IMAX by 1.9% during the fourth quarter. Janney Montgomery Scott LLC now owns 29,176 shares of the company’s stock worth $747,000 after purchasing an additional 533 shares during the period. Blue Trust Inc. raised its position in shares of IMAX by 138.5% during the 4th quarter. Blue Trust Inc. now owns 966 shares of the company’s stock valued at $25,000 after buying an additional 561 shares during the period. Mission Wealth Management LP raised its position in shares of IMAX by 2.9% during the 1st quarter. Mission Wealth Management LP now owns 30,408 shares of the company’s stock valued at $801,000 after buying an additional 845 shares during the period. MetLife Investment Management LLC lifted its holdings in IMAX by 3.4% in the fourth quarter. MetLife Investment Management LLC now owns 25,918 shares of the company’s stock valued at $664,000 after acquiring an additional 848 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in IMAX by 3.9% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,395 shares of the company’s stock worth $625,000 after acquiring an additional 905 shares during the period. Institutional investors and hedge funds 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.