IMAX (NYSE:IMAX) Price Target Raised to $41.00

IMAX (NYSE:IMAX) had its price target hoisted by The Goldman Sachs Group from $37.00 to $41.00 in a research note released on Monday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

Other research analysts also recently issued reports about the company. Wedbush reissued an “outperform” rating and issued a $46.00 target price on shares of IMAX in a report on Monday, February 23rd. JPMorgan Chase & Co. lifted their price objective on IMAX from $47.00 to $48.00 and gave the company an “overweight” rating in a research report on Thursday, February 26th. Weiss Ratings restated a “buy (b)” rating on shares of IMAX in a report on Monday, December 29th. Wells Fargo & Company lifted their price target on IMAX from $40.00 to $47.00 and gave the company an “overweight” rating in a report on Thursday, December 18th. Finally, Barrington Research reiterated an “outperform” rating and set a $42.00 price target on shares of IMAX in a research report on Monday, January 26th. Ten equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $43.70.

IMAX Stock Up 0.1%

Shares of IMAX stock opened at $41.22 on Monday. IMAX has a 12 month low of $20.48 and a 12 month high of $43.16. The firm has a market cap of $2.23 billion, a PE ratio of 66.48, a price-to-earnings-growth ratio of 1.94 and a beta of 0.33. The stock has a 50 day moving average of $36.68 and a 200-day moving average of $34.38.

IMAX (NYSE:IMAX) last released its earnings results on Wednesday, February 25th. The company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.15. The business had revenue of $125.21 million during the quarter, compared to analysts’ expectations of $120.30 million. IMAX had a net margin of 8.50% and a return on equity of 13.53%. The firm’s revenue was up 35.1% on a year-over-year basis. During the same quarter last year, the company earned $0.27 earnings per share. As a group, equities analysts predict that IMAX will post 0.91 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. increased its stake in IMAX by 10.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,029,602 shares of the company’s stock valued at $28,788,000 after buying an additional 101,048 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of IMAX by 67.8% during the 3rd quarter. Principal Financial Group Inc. now owns 70,927 shares of the company’s stock worth $2,323,000 after buying an additional 28,667 shares during the last quarter. Zhang Financial LLC bought a new position in shares of IMAX in the 3rd quarter valued at about $903,000. Emerald Mutual Fund Advisers Trust acquired a new stake in shares of IMAX in the third quarter valued at about $4,893,000. Finally, Thrivent Financial for Lutherans bought a new stake in IMAX during the third quarter worth about $3,272,000. Institutional investors own 93.51% of the company’s stock.

IMAX Company Profile

IMAX Corporation is a global leader in immersive entertainment technologies, specializing in the design, manufacture and distribution of high-resolution cameras, projectors, and proprietary software solutions that enhance both film production and theatrical exhibition. The company licenses its premium large-format system to theatre owners and filmmakers around the world, enabling audiences to experience movies with greater clarity, scale and sound fidelity. IMAX also offers turnkey theatre development services, assisting cinema operators with auditorium design, installation and custom branding to optimize the customer experience.

Founded in 1967 and headquartered in Mississauga, Ontario, IMAX has built a reputation for pioneering film-format innovations, including its patented dual 15-perforation, 70-millimeter projection system.