Wedbush Boosts IMAX (NYSE:IMAX) Price Target to $26.00

IMAX (NYSE:IMAX) had its price target boosted by Wedbush from $24.00 to $26.00 in a research note released on Tuesday morning, Benzinga reports. Wedbush currently has 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.

Other analysts have also recently issued research reports about the stock. Seaport Res Ptn raised shares of IMAX to a strong-buy rating in a report on Wednesday, July 24th. Roth Mkm raised their target price on shares of IMAX from $23.00 to $27.00 and gave the company a buy rating in a research note on Friday, July 26th. Macquarie raised their target price on shares of IMAX from $24.00 to $26.00 and gave the company an outperform rating in a research note on Friday, July 26th. Benchmark reissued a buy rating and set a $22.00 target price on shares of IMAX in a research note on Thursday, June 20th. Finally, Rosenblatt Securities raised their target price on shares of IMAX from $25.00 to $28.00 and gave the company a buy rating in a research note on Friday, July 26th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, IMAX presently has a consensus rating of Moderate Buy and an average target price of $23.78.

IMAX Stock Performance

IMAX stock opened at $21.00 on Tuesday. The firm’s 50-day moving average is $19.43 and its 200-day moving average is $17.49. IMAX has a 1 year low of $13.20 and a 1 year high of $22.13. The company has a market cap of $1.11 billion, a P/E ratio of 43.75, a PEG ratio of 1.53 and a beta of 1.25.

IMAX (NYSE:IMAX) last posted its quarterly earnings results on Thursday, July 25th. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.11. IMAX had a net margin of 5.97% and a return on equity of 7.78%. The company had revenue of $88.96 million for the quarter, compared to the consensus estimate of $74.52 million. During the same period last year, the firm posted $0.17 EPS. The company’s revenue for the quarter was down 9.2% on a year-over-year basis. As a group, sell-side analysts predict that IMAX will post 0.69 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Victory Capital Management Inc. boosted its holdings in shares of IMAX by 13.0% during the fourth quarter. Victory Capital Management Inc. now owns 825,319 shares of the company’s stock worth $12,396,000 after purchasing an additional 95,182 shares during the period. Teacher Retirement System of Texas acquired a new stake in shares of IMAX during the fourth quarter worth approximately $238,000. BNP Paribas Financial Markets boosted its holdings in shares of IMAX by 21.4% during the fourth 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 boosted its holdings in shares of IMAX by 85.8% during the fourth quarter. Jump Financial LLC now owns 105,400 shares of the company’s stock worth $1,583,000 after purchasing an additional 48,672 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of IMAX by 0.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,454,524 shares of the company’s stock worth $21,847,000 after purchasing an additional 10,358 shares during the period. 93.51% of the stock is currently owned by institutional investors and hedge funds.

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.