IMAX (NYSE:IMAX) sets new 1-year high at $21.62

Shares of IMAX Co. (NYSE:IMAX – Get Your Free Report ) hit a new 52-week high on Friday. The stock traded as high as $21.62 and last traded at $21.46, with a volume of 107878 shares traded. Shares previously closed at $21.19.

Analysts set new price targets

Several brokerages recently weighed in on IMAX. Barrington Research reiterated an “outperform” rating and set a $25.00 target price on shares of IMAX in a research note on Friday, July 26th. Benchmark reissued a “buy” rating and set a $22.00 target price on shares of IMAX in a report on Thursday, June 20th. Macquarie boosted their price objective on IMAX from $24.00 to $26.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Rosenblatt Securities boosted 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 upped their target price on shares of IMAX from $27.00 to $30.00 and gave the stock 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 assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $23.56.

See the latest stock report on IMAX

IMAX stock performance

The company’s fifty day simple moving average is $18.51 and its 200 day simple moving average is $17.02. The firm has a market cap of $1.13 billion, a PE ratio of 44.54, a price-to-earnings-growth ratio of 1.53 and a beta of 1.26.

IMAX (NYSE:IMAX – Get Your Free Report ) last announced its quarterly earnings results on Thursday, July 25th. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.11. The company had revenue of $88.96 million for the quarter, compared to the consensus estimate of $74.52 million. IMAX had a net margin of 5.97% and a return on equity of 7.78%. IMAX’s revenue for the quarter was down 9.2% compared to the same quarter last year. During the same period in the previous year, the firm posted EPS of $0.17. Sell-side analysts expect that IMAX Co. to post 0.69 earnings per share for the current fiscal year.

Institutional investors are weighing in on IMAX

A number of hedge funds have recently made changes to their positions in the company. Mission Wealth Management LP boosted its stake in shares of IMAX by 3.6% in the 4th quarter. Mission Wealth Management LP now owns 50,587 shares of the company’s stock worth $760,000 after acquiring an additional 1,737 shares in the last quarter. Victory Capital Management Inc. raised its stake in IMAX by 13.0% during the fourth quarter. Victory Capital Management Inc. now owns 825,319 shares of the company’s stock valued at $12,396,000 after buying an additional 95,182 shares in the last quarter. Teacher Retirement System of Texas bought a new position in IMAX during the fourth quarter valued at $238,000. BNP Paribas Financial Markets grew its stake in IMAX by 21.4% in the 4th quarter. BNP Paribas Financial Markets now owns 89,441 shares of the company’s stock worth $1,343,000 after buying an additional 15,767 shares during the period. shares in the last quarter. Finally, Jump Financial LLC boosted its holdings in shares of IMAX by 85.8% in the 4th quarter. Jump Financial LLC now owns 105,400 shares of the company’s stock worth $1,583,000 after buying an additional 48,672 shares of shares in the last quarter. 93.51% of the shares are currently held by hedge funds and other institutional investors.

About IMAX

(Get a free report)

IMAX Corporation, together with its subsidiaries, operates as a worldwide entertainment and events technology platform. 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 in IMAX formats for distribution on the IMAX network; IMAX Enhanced which provides end-to-end technology for streaming content and home entertainment devices; and SSIMWAVE, an AI-powered video quality solution for media and entertainment companies.

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