IMAX (NYSE:IMAX) Sets New 1-Year High – Still a Buy?

IMAX Co. (NYSE:IMAX) shares reached a new 52-week high on Wednesday . The stock traded as high as $24.96 and last traded at $24.71, with a volume of 21437 shares. The stock had previously closed at $24.26.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on IMAX shares. Barrington Research reiterated an “outperform” rating and set a $24.00 price objective on shares of IMAX in a research note on Thursday, October 31st. Macquarie increased their price target on shares of IMAX from $24.00 to $26.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Rosenblatt Securities restated a “buy” rating and set a $28.00 price objective on shares of IMAX in a research report on Thursday, October 31st. Wedbush increased their price target on IMAX from $24.00 to $26.00 and gave the company an “outperform” rating in a research note on Tuesday, September 3rd. Finally, Seaport Res Ptn upgraded IMAX to a “strong-buy” rating in a research report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $24.22.

IMAX Stock Down 0.0 %

The firm has a 50 day moving average price of $21.00 and a two-hundred day moving average price of $18.90. The company has a market cap of $1.30 billion, a price-to-earnings ratio of 56.18, a PEG ratio of 1.82 and a beta of 1.22.

IMAX (NYSE:IMAX) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.12. IMAX had a net margin of 6.74% and a return on equity of 7.53%. The firm had revenue of $91.50 million during the quarter, compared to analyst estimates of $93.71 million. During the same quarter last year, the business earned $0.27 EPS. The company’s revenue was down 11.9% compared to the same quarter last year. On average, equities analysts expect that IMAX Co. will post 0.67 earnings per share for the current year.

Institutional Trading of IMAX

A number of institutional investors have recently bought and sold shares of IMAX. Janney Montgomery Scott LLC raised its position in shares of IMAX by 28.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 33,011 shares of the company’s stock worth $534,000 after acquiring an additional 7,226 shares in the last quarter. Mutual of America Capital Management LLC increased its holdings in IMAX by 11.5% in the first quarter. Mutual of America Capital Management LLC now owns 176,136 shares of the company’s stock worth $2,848,000 after purchasing an additional 18,114 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its stake in IMAX by 63.2% in the first quarter. State Board of Administration of Florida Retirement System now owns 20,924 shares of the company’s stock valued at $338,000 after buying an additional 8,100 shares during the period. Pembroke Management LTD lifted its stake in IMAX by 52.2% in the first quarter. Pembroke Management LTD now owns 351,113 shares of the company’s stock valued at $5,677,000 after buying an additional 120,495 shares during the period. Finally, Mizuho Markets Americas LLC boosted its holdings in shares of IMAX by 5.7% during the 1st quarter. Mizuho Markets Americas LLC now owns 213,525 shares of the company’s stock worth $3,453,000 after buying an additional 11,500 shares in the last quarter. 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.