IMAX (NYSE:IMAX) PT Raised to $30.00

IMAX (NYSE:IMAX) had its price target boosted by B. Riley from $27.00 to $30.00 in a report published on Monday, Benzinga reports. The firm currently has 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.

Several other research firms also recently commented on IMAX. Barrington Research reissued an outperform rating and set a $24.00 price target on shares of IMAX in a research note on Monday, April 22nd. Benchmark reissued a buy rating and set a $22.00 price target on shares of IMAX in a research note on Thursday, June 20th. Wedbush reissued an outperform rating and set a $22.00 price target on shares of IMAX in a research note on Friday, June 21st. Finally, Rosenblatt Securities reissued a buy rating and set a $25.00 price target on shares of IMAX in a research note on Monday, June 17th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, IMAX presently has a consensus rating of Moderate Buy and a consensus target price of $21.86.

IMAX Trading Up 5.0 %

IMAX stock opened at $17.34 on Monday. The firm has a 50 day moving average of $16.54 and a 200-day moving average of $15.90. IMAX has a 12 month low of $13.20 and a 12 month high of $20.70. The firm has a market capitalization of $912.52 million, a P/E ratio of 36.13, a price-to-earnings-growth ratio of 1.40 and a beta of 1.26.

IMAX (NYSE:IMAX) last released its quarterly earnings data on Thursday, April 25th. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.05. IMAX had a net margin of 7.13% and a return on equity of 9.47%. The company had revenue of $79.12 million during the quarter, compared to analyst estimates of $77.88 million. Sell-side analysts predict that IMAX will post 0.61 EPS for the current year.

Insider Activity at IMAX

In related news, EVP Calamera Pablo sold 6,130 shares of the stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $17.05, for a total transaction of $104,516.50. Following the sale, the executive vice president now directly owns 42,269 shares of the company’s stock, valued at approximately $720,686.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 24.08% of the stock is currently owned by insiders.

Hedge Funds Weigh In On IMAX

Hedge funds and other institutional investors have recently bought and sold shares of the stock. GSA Capital Partners LLP bought a new position in IMAX during the 1st quarter valued at about $1,070,000. Kodai Capital Management LP bought a new position in shares of IMAX in the 4th quarter worth approximately $5,287,000. Principal Financial Group Inc. bought a new position in shares of IMAX in the 1st quarter worth approximately $871,000. Victory Capital Management Inc. lifted its stake in shares of IMAX by 13.0% in the 4th quarter. Victory Capital Management Inc. now owns 825,319 shares of the company’s stock worth $12,396,000 after purchasing an additional 95,182 shares during the period. Finally, Mutual of America Capital Management LLC lifted its stake in shares of IMAX by 44.0% in the 4th quarter. Mutual of America Capital Management LLC now owns 158,022 shares of the company’s stock worth $2,373,000 after purchasing an additional 48,266 shares during the period. Institutional investors 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.