IMAX (NYSE:IMAX) PT Raised to $30.00

IMAX (NYSE:IMAX) had its price objective hoisted by B. Riley from $27.00 to $30.00 in a report published on Monday, Benzinga reports. They currently have a buy rating on the stock. B. Riley also issued estimates for IMAX’s Q2 2024 earnings at $0.01 EPS, FY2024 earnings at $0.68 EPS, Q2 2025 earnings at $0.10 EPS and Q3 2025 earnings at $0.18 EPS.

A number of other research firms have also recently weighed in on IMAX. Wedbush reiterated an outperform rating and issued a $22.00 target price on shares of IMAX in a research note on Friday, June 21st. Benchmark reiterated a buy rating and issued a $22.00 target price on shares of IMAX in a research note on Thursday, June 20th. Rosenblatt Securities reiterated a buy rating and issued a $25.00 target price on shares of IMAX in a research note on Monday, June 17th. Finally, Barrington Research restated an outperform rating and set a $24.00 price objective on shares of IMAX in a research report on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $21.86.

IMAX Stock Performance

IMAX stock opened at $17.34 on Monday. IMAX has a fifty-two week low of $13.20 and a fifty-two week high of $20.70. The stock has a market cap of $912.52 million, a PE ratio of 36.13, a price-to-earnings-growth ratio of 1.40 and a beta of 1.26. The firm’s 50-day simple moving average is $16.54 and its 200 day simple moving average is $15.90.

IMAX (NYSE:IMAX) last released its earnings results on Thursday, April 25th. The company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.05. The firm had revenue of $79.12 million for the quarter, compared to analysts’ expectations of $77.88 million. IMAX had a net margin of 7.13% and a return on equity of 9.47%. As a group, analysts predict that IMAX will post 0.61 EPS for the current fiscal year.

Insider Buying and Selling

In other IMAX news, EVP Calamera Pablo sold 6,130 shares of the business’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $17.05, for a total value of $104,516.50. Following the transaction, the executive vice president now owns 42,269 shares in the company, valued at $720,686.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 24.08% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On IMAX

A number of hedge funds have recently modified their holdings of IMAX. GTS Securities LLC purchased a new position in shares of IMAX during the third quarter valued at about $1,092,000. SG Americas Securities LLC increased its position in shares of IMAX by 65.5% during the fourth quarter. SG Americas Securities LLC now owns 11,868 shares of the company’s stock valued at $178,000 after buying an additional 4,699 shares during the period. Equitable Trust Co. increased its position in shares of IMAX by 90.8% during the fourth quarter. Equitable Trust Co. now owns 36,255 shares of the company’s stock valued at $545,000 after buying an additional 17,255 shares during the period. Mutual of America Capital Management LLC increased its position in shares of IMAX by 44.0% during the fourth quarter. Mutual of America Capital Management LLC now owns 158,022 shares of the company’s stock valued at $2,373,000 after buying an additional 48,266 shares during the period. Finally, Knights of Columbus Asset Advisors LLC increased its position in shares of IMAX by 16.6% during the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 264,689 shares of the company’s stock valued at $3,976,000 after buying an additional 37,631 shares during the period. Hedge funds and other 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.