IMAX (NYSE:IMAX) Hits New 1-Year High – Time to Buy?

IMAX Co. (NYSE:IMAX)’s stock price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $25.51 and last traded at $25.47, with a volume of 207272 shares traded. The stock had previously closed at $24.71.

Analyst Upgrades and Downgrades

IMAX has been the subject of a number of research reports. 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 note on Friday, July 26th. Barrington Research reiterated an “outperform” rating and issued a $24.00 price target on shares of IMAX in a report on Thursday, October 31st. Rosenblatt Securities reissued a “buy” rating and issued a $28.00 price objective on shares of IMAX in a research note on Thursday, October 31st. StockNews.com downgraded shares of IMAX from a “buy” rating to a “hold” rating in a report on Thursday. Finally, Roth Mkm increased their price objective on shares of IMAX from $27.00 to $28.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. One analyst has rated the stock with a sell rating, two have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $24.22.

IMAX Trading Up 1.9 %

The stock has a market capitalization of $1.33 billion, a P/E ratio of 55.90, a PEG ratio of 1.63 and a beta of 1.22. The company has a fifty day simple moving average of $21.68 and a two-hundred day simple moving average of $19.43.

IMAX (NYSE:IMAX) last released its earnings results on Wednesday, October 30th. The company reported $0.35 earnings per share for the quarter, beating 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 business had revenue of $91.50 million during the quarter, compared to analysts’ expectations of $93.71 million. During the same period last year, the business earned $0.27 earnings per share. The firm’s revenue was down 11.9% on a year-over-year basis. As a group, analysts forecast that IMAX Co. will post 0.76 earnings per share for the current fiscal year.

Institutional Trading of IMAX

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in IMAX by 13.2% during the 1st quarter. Vanguard Group Inc. now owns 584,795 shares of the company’s stock valued at $9,456,000 after buying an additional 68,155 shares in the last quarter. Victory Capital Management Inc. lifted its position in IMAX by 33.1% during the 2nd quarter. Victory Capital Management Inc. now owns 1,293,221 shares of the company’s stock valued at $21,687,000 after acquiring an additional 321,506 shares during the period. Mizuho Markets Americas LLC increased its stake in IMAX by 47.5% during the 3rd quarter. Mizuho Markets Americas LLC now owns 387,689 shares of the company’s stock valued at $7,952,000 after purchasing an additional 124,811 shares in the last quarter. American Century Companies Inc. grew its stake in shares of IMAX by 57.0% in the second quarter. American Century Companies Inc. now owns 120,021 shares of the company’s stock worth $2,013,000 after acquiring an additional 43,584 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in shares of IMAX by 90.6% in the second quarter. Bank of New York Mellon Corp now owns 587,694 shares of the company’s stock worth $9,856,000 after buying an additional 279,410 shares during 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.