Barrington Research Reaffirms Outperform Rating for IMAX (NYSE:IMAX)

Barrington Research reissued their outperform rating on shares of IMAX (NYSE:IMAX) in a research report sent to investors on Wednesday, Benzinga reports. Barrington Research currently has a $24.00 price target on the stock. Barrington Research also issued estimates for IMAX’s Q1 2025 earnings at $0.07 EPS and Q4 2025 earnings at $0.34 EPS.

IMAX has been the topic of several other research reports. Seaport Res Ptn raised shares of IMAX to a strong-buy rating in a report on Wednesday, July 24th. Macquarie raised their price target on IMAX from $24.00 to $26.00 and gave the stock an outperform rating in a research report on Friday, July 26th. Benchmark reissued a buy rating and issued a $22.00 price target on shares of IMAX in a report on Thursday, June 20th. Rosenblatt Securities increased their price objective on IMAX from $25.00 to $28.00 and gave the company a buy rating in a research note on Friday, July 26th. Finally, B. Riley boosted their target price on shares of IMAX from $27.00 to $30.00 and gave the company a buy rating in a research note on Monday, July 8th. One research analyst has rated the stock with a sell rating, two have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, IMAX presently has an average rating of Moderate Buy and a consensus price target of $23.67.

IMAX Price Performance

IMAX opened at $20.35 on Wednesday. IMAX has a 1-year low of $13.20 and a 1-year high of $22.13. The stock has a market cap of $1.07 billion, a P/E ratio of 42.40, a P/E/G ratio of 1.38 and a beta of 1.25. The stock’s 50 day simple moving average is $20.41 and its 200 day simple moving average is $17.91.

IMAX (NYSE:IMAX) last announced its quarterly earnings results on Thursday, July 25th. The company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.11. IMAX had a return on equity of 7.78% and a net margin of 5.97%. The business had revenue of $88.96 million during the quarter, compared to analysts’ expectations of $74.52 million. During the same quarter last year, the business posted $0.17 earnings per share. The business’s revenue for the quarter was down 9.2% on a year-over-year basis. Research analysts expect that IMAX will post 0.69 EPS for the current fiscal year.

Institutional Investors Weigh In On IMAX

Institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in 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 purchasing an additional 68,155 shares during the last quarter. GSA Capital Partners LLP purchased a new position in shares of IMAX in the 1st quarter worth $1,070,000. Acadian Asset Management LLC boosted its holdings in IMAX by 178.7% in the first quarter. Acadian Asset Management LLC now owns 490,917 shares of the company’s stock valued at $7,934,000 after acquiring an additional 314,742 shares during the last quarter. Kodai Capital Management LP purchased a new stake in IMAX during the fourth quarter valued at about $5,287,000. Finally, Principal Financial Group Inc. purchased a new position in shares of IMAX in the 1st quarter worth about $871,000. 93.51% of the stock is currently owned by hedge funds and other institutional investors.

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.