StockNews.com Downgrades IMAX (NYSE:IMAX) to Hold

IMAX (NYSE:IMAX) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.

A number of other research firms have also commented on IMAX. Wedbush reaffirmed an “outperform” rating on shares of IMAX in a research report on Wednesday. Roth Mkm raised their target price on shares of IMAX from $27.00 to $28.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Rosenblatt Securities reiterated a “buy” rating and issued a $28.00 price target on shares of IMAX in a research note on Thursday, October 31st. Barrington Research restated an “outperform” rating and set a $24.00 price objective on shares of IMAX in a research note on Thursday, October 31st. Finally, JPMorgan Chase & Co. lifted their price objective on IMAX from $20.00 to $21.00 and gave the company a “neutral” rating in a report on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.22.

IMAX Trading Up 1.0 %

Shares of IMAX traded up $0.27 during mid-day trading on Friday, reaching $26.30. The company’s stock had a trading volume of 613,089 shares, compared to its average volume of 760,237. IMAX has a 1-year low of $13.20 and a 1-year high of $26.54. The stock has a market cap of $1.39 billion, a P/E ratio of 59.77, a PEG ratio of 1.66 and a beta of 1.22. The business has a 50-day simple moving average of $22.18 and a two-hundred day simple moving average of $19.74.

IMAX (NYSE:IMAX) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.12. The business had revenue of $91.50 million during the quarter, compared to the consensus estimate of $93.71 million. IMAX had a return on equity of 7.53% and a net margin of 6.74%. The firm’s quarterly revenue was down 11.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.27 EPS. Research analysts anticipate that IMAX will post 0.78 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of IMAX. Vanguard Group Inc. grew its stake in shares of IMAX by 13.2% during the first quarter. Vanguard Group Inc. now owns 584,795 shares of the company’s stock worth $9,456,000 after buying an additional 68,155 shares during the last quarter. PEAK6 Investments LLC bought a new stake in IMAX during the 1st quarter worth $210,000. Price T Rowe Associates Inc. MD increased its holdings in IMAX by 19.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,082 shares of the company’s stock worth $212,000 after purchasing an additional 2,153 shares in the last quarter. Private Capital Management LLC increased its holdings in IMAX by 10.0% in the 1st quarter. Private Capital Management LLC now owns 1,304,364 shares of the company’s stock worth $21,092,000 after purchasing an additional 118,649 shares in the last quarter. Finally, Laurus Investment Counsel Inc. bought a new position in IMAX in the second quarter valued at about $150,000. Institutional investors own 93.51% of the company’s stock.

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.