IMAX (NYSE:IMAX) Given New $26.00 Price Target at Wedbush

IMAX (NYSE:IMAX) had its price target raised by Wedbush from $24.00 to $26.00 in a research note released on Tuesday, Benzinga reports. They currently have an outperform rating on the stock. Wedbush also issued estimates for IMAX’s Q4 2024 earnings at $0.36 EPS, FY2024 earnings at $0.84 EPS, Q1 2025 earnings at $0.19 EPS, Q2 2025 earnings at $0.10 EPS, Q4 2025 earnings at $0.32 EPS, FY2025 earnings at $0.96 EPS and FY2026 earnings at $1.19 EPS.

Several other equities analysts have also issued reports on the company. Roth Mkm raised their price objective on IMAX from $23.00 to $27.00 and gave the stock a buy rating in a report on Friday, July 26th. B. Riley raised their price target on IMAX from $27.00 to $30.00 and gave the stock a buy rating in a research note on Monday, July 8th. Benchmark reiterated a buy rating and issued a $22.00 price objective on shares of IMAX in a research note on Thursday, June 20th. Seaport Res Ptn upgraded IMAX to a strong-buy rating in a research note on Wednesday, July 24th. Finally, Rosenblatt Securities lifted their target price on shares of IMAX from $25.00 to $28.00 and gave the company a buy rating in a report on Friday, July 26th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, IMAX presently has a consensus rating of Moderate Buy and a consensus price target of $23.78.

IMAX Stock Performance

Shares of NYSE IMAX opened at $21.87 on Tuesday. The stock’s 50-day simple moving average is $19.35 and its 200-day simple moving average is $17.45. The firm has a market capitalization of $1.15 billion, a PE ratio of 45.56, a price-to-earnings-growth ratio of 1.53 and a beta of 1.25. IMAX has a fifty-two week low of $13.20 and a fifty-two week high of $22.13.

IMAX (NYSE:IMAX) last released its quarterly earnings data on Thursday, July 25th. The company reported $0.18 earnings per share 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 analysts’ expectations of $74.52 million. IMAX had a net margin of 5.97% and a return on equity of 7.78%. The firm’s revenue for the quarter was down 9.2% on a year-over-year basis. During the same quarter last year, the company earned $0.17 earnings per share. On average, sell-side analysts forecast that IMAX will post 0.69 earnings per share for the current fiscal year.

Hedge Funds Weigh In On IMAX

Several institutional investors have recently bought and sold shares of the company. Victory Capital Management Inc. boosted its holdings in shares of IMAX by 13.0% in the fourth quarter. Victory Capital Management Inc. now owns 825,319 shares of the company’s stock valued at $12,396,000 after acquiring an additional 95,182 shares in the last quarter. Teacher Retirement System of Texas purchased a new stake in IMAX in the 4th quarter valued at approximately $238,000. BNP Paribas Financial Markets increased its position in IMAX by 21.4% during the 4th quarter. BNP Paribas Financial Markets now owns 89,441 shares of the company’s stock worth $1,343,000 after purchasing an additional 15,767 shares during the period. Jump Financial LLC raised its stake in shares of IMAX by 85.8% during 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 in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of IMAX by 0.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,454,524 shares of the company’s stock valued at $21,847,000 after buying an additional 10,358 shares during the period. 93.51% of the stock is owned by institutional investors and hedge funds.

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.