IMAX (NYSE:IMAX – Get Free Report) had its price objective raised by stock analysts at Rosenblatt Securities from $60.00 to $65.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Rosenblatt Securities’ target price would suggest a potential upside of 23.65% from the company’s current price.
A number of other research analysts also recently weighed in on the stock. Wall Street Zen raised shares of IMAX from a “hold” rating to a “buy” rating in a research report on Saturday. Wedbush lifted their price objective on shares of IMAX from $46.00 to $54.00 and gave the company an “outperform” rating in a research report on Friday, July 24th. Roth Capital boosted their price target on IMAX from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, September 3rd. Benchmark reaffirmed a “buy” rating on shares of IMAX in a report on Monday, June 22nd. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and set a $60.00 price target on shares of IMAX in a report on Friday, May 22nd. Ten equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $54.45.
Get Our Latest Stock Analysis on IMAX
IMAX Stock Up 1.8%
IMAX (NYSE:IMAX – Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.13. The firm had revenue of $102.84 million during the quarter, compared to analysts’ expectations of $96.09 million. IMAX had a return on equity of 15.47% and a net margin of 9.84%.The company’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.26 EPS. As a group, equities analysts anticipate that IMAX will post 1.53 EPS for the current year.
Insider Activity
In other news, CEO Richard L. Gelfond sold 100,000 shares of the business’s stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $53.23, for a total value of $5,323,000.00. Following the sale, the chief executive officer directly owned 665,002 shares in the company, valued at $35,398,056.46. The trade was a 13.07% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kenneth Weissman sold 8,000 shares of the company’s stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $54.54, for a total value of $436,320.00. Following the completion of the sale, the insider owned 28,205 shares in the company, valued at $1,538,300.70. The trade was a 22.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 484,757 shares of company stock valued at $25,513,021 in the last ninety days. 20.55% of the stock is currently owned by insiders.
Hedge Funds Weigh In On IMAX
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Engineers Gate Manager LP lifted its position in IMAX by 227.7% during the 2nd quarter. Engineers Gate Manager LP now owns 29,205 shares of the company’s stock worth $1,164,000 after acquiring an additional 20,293 shares in the last quarter. Nykredit A S bought a new position in shares of IMAX in the second quarter worth about $105,000. California State Teachers Retirement System boosted its holdings in IMAX by 3,785.1% during the second quarter. California State Teachers Retirement System now owns 2,104,728 shares of the company’s stock valued at $83,894,000 after purchasing an additional 2,050,554 shares in the last quarter. Triumph Capital Management raised its stake in shares of IMAX by 3.0% in the second quarter. Triumph Capital Management now owns 17,295 shares of the company’s stock worth $689,000 after acquiring an additional 504 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new stake in IMAX in the second quarter valued at approximately $380,000. Institutional investors and hedge funds own 93.51% of the company’s stock.
IMAX News Roundup
Here are the key news stories impacting IMAX this week:
- Positive Sentiment: IMAX reported a record $728 million in worldwide summer box office from Memorial Day through Labor Day, up 73% from its prior 2023 record. The network captured 5.8% of the overall box office across more than 1,800 screens, suggesting strong consumer demand and operating leverage for the premium cinema format. IMAX summer box office record
- Positive Sentiment: Christopher Nolan’s The Odyssey has driven a historic IMAX run, reportedly approaching the $500 million mark, and its engagement has been extended through September. The extended run indicates sustained demand and could provide additional box-office contributions beyond the company’s record summer period. The Odyssey IMAX milestone
- Positive Sentiment: Star Wars: Starfighter and a 50th-anniversary re-release of the original Star Wars: A New Hope are scheduled for IMAX 70mm releases in 2027. The combination of a major franchise, premium large-format presentation and anniversary interest could boost future ticket sales and strengthen IMAX’s content pipeline. Star Wars IMAX 70mm releases
- Neutral Sentiment: A new IMAX trailer for Godzilla Minus Zero adds another potentially attractive event-film release, but the financial impact will depend on final audience reception and box-office performance. Godzilla Minus Zero IMAX trailer
About IMAX
IMAX Corporation is a global leader in immersive entertainment technologies, specializing in the design, manufacture and distribution of high-resolution cameras, projectors, and proprietary software solutions that enhance both film production and theatrical exhibition. The company licenses its premium large-format system to theatre owners and filmmakers around the world, enabling audiences to experience movies with greater clarity, scale and sound fidelity. IMAX also offers turnkey theatre development services, assisting cinema operators with auditorium design, installation and custom branding to optimize the customer experience.
Founded in 1967 and headquartered in Mississauga, Ontario, IMAX has built a reputation for pioneering film-format innovations, including its patented dual 15-perforation, 70-millimeter projection system.
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