IMAX (NYSE:IMAX – Get Free Report) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Saturday, Wall Street Zen reports.
A number of other equities analysts have also recently commented on the company. Benchmark reiterated a “buy” rating on shares of IMAX in a report on Monday, June 22nd. Wells Fargo & Company upped their price objective on IMAX from $41.00 to $45.00 and gave the company an “equal weight” rating in a research note on Friday, July 24th. The Goldman Sachs Group raised their price objective on IMAX from $42.00 to $50.00 and gave the company a “neutral” rating in a research report on Friday. Seaport Research Partners reiterated a “buy” rating and set a $50.00 target price on shares of IMAX in a research note on Wednesday, June 24th. Finally, Barrington Research boosted their target price on IMAX from $46.00 to $50.00 and gave the stock an “outperform” rating in a report on Friday, July 24th. Ten investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, IMAX has an average rating of “Moderate Buy” and a consensus target price of $54.00.
Read Our Latest Stock Report on IMAX
IMAX Price Performance
IMAX (NYSE:IMAX – Get Free Report) last released 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 company had revenue of $102.84 million for the quarter, compared to analyst estimates of $96.09 million. IMAX had a net margin of 9.84% and a return on equity of 15.47%. IMAX’s revenue for the quarter was up 12.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.26 EPS. As a group, equities research analysts anticipate that IMAX will post 1.53 EPS for the current fiscal year.
Insiders Place Their Bets
In other news, CFO Natasha Fernandes sold 20,000 shares of IMAX stock in a transaction on Monday, August 24th. The stock was sold at an average price of $54.63, for a total transaction of $1,092,600.00. Following the completion of the sale, the chief financial officer owned 35,596 shares of the company’s stock, valued at approximately $1,944,609.48. This trade represents a 35.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kenneth Weissman sold 8,000 shares of the business’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $54.54, for a total transaction of $436,320.00. Following the completion of the sale, the insider directly owned 28,205 shares of the company’s stock, valued at approximately $1,538,300.70. The trade was a 22.10% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 484,757 shares of company stock worth $25,513,021 in the last 90 days. Company insiders own 20.55% of the company’s stock.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently made changes to their positions in the business. CIBC Private Wealth Group LLC bought a new position in shares of IMAX during the third quarter worth approximately $27,000. Quarry LP raised its position in shares of IMAX by 166.8% in the fourth quarter. Quarry LP now owns 875 shares of the company’s stock valued at $32,000 after buying an additional 547 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its position in shares of IMAX by 2,310.4% in the third quarter. Caitong International Asset Management Co. Ltd now owns 1,157 shares of the company’s stock valued at $38,000 after buying an additional 1,109 shares in the last quarter. Aster Capital Management DIFC Ltd boosted its stake in shares of IMAX by 863.0% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,666 shares of the company’s stock valued at $62,000 after buying an additional 1,493 shares during the period. Finally, Kestra Advisory Services LLC bought a new stake in shares of IMAX in the fourth quarter valued at approximately $74,000. Institutional investors and hedge funds own 93.51% of the company’s stock.
Trending Headlines about IMAX
Here are the key news stories impacting IMAX this week:
- Positive Sentiment: The Odyssey’s IMAX 70mm engagement has been extended through the end of September, indicating sustained demand for premium-format screenings and potentially supporting IMAX’s box-office revenue. The Odyssey Is Extending Its IMAX 70MM Run Once Again Through the End of September
- Positive Sentiment: Multiple reports say The Odyssey’s ticket sales have surpassed $450 million, and theaters are extending its IMAX 70mm run. The result reinforces the commercial appeal of blockbuster films released in IMAX and could improve near-term exhibitor and technology revenue. The Odyssey extends Imax 70mm run, ticket sales surpass $450 million
- Neutral Sentiment: Coverage of Steph Curry’s basketball project involving 20 IMAX cameras highlights IMAX’s ability to attract sports and event-content partnerships, although the immediate financial impact is unclear. Steph Curry IMAX cameras feature
- Negative Sentiment: Goldman Sachs raised its IMAX price target from $42 to $50 but maintained a Neutral rating. The new target remains about 3.3% below the reported $51.72 share price, suggesting Goldman believes much of the expected upside is already reflected. With IMAX trading at a high earnings multiple, the valuation signal may weigh on the stock despite the target increase.
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.
Featured Stories
- Five stocks we like better than IMAX
- AI Token Costs Are Changing the Hardware vs. Software Debate
- 3 ETFs That Could Move as Rate Expectations Shift
- 3 Stocks With September Catalysts Investors Shouldn’t Ignore
- Ollie’s Bargain Outlet Stock Falls on Weak Comps Despite Margin Gains
Receive News & Ratings for IMAX Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for IMAX and related companies with MarketBeat.com's FREE daily email newsletter.
