IMAX (NYSE:IMAX) Hits New 1-Year High – What’s Next?

IMAX Co. (NYSE:IMAX)’s stock price reached a new 52-week high during trading on Tuesday . The stock traded as high as $27.88 and last traded at $27.78, with a volume of 131898 shares changing hands. The stock had previously closed at $26.97.

Analyst Ratings Changes

Several analysts have issued reports on the company. Wedbush reaffirmed an “outperform” rating and set a $32.00 target price on shares of IMAX in a research report on Thursday, April 17th. Macquarie upped their price objective on IMAX from $30.00 to $32.00 and gave the stock an “outperform” rating in a research note on Friday, April 25th. Wall Street Zen upgraded IMAX from a “hold” rating to a “buy” rating in a research note on Friday, May 16th. JPMorgan Chase & Co. lowered their price target on shares of IMAX from $27.00 to $26.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. Finally, Wells Fargo & Company decreased their target price on shares of IMAX from $32.00 to $30.00 and set an “overweight” rating for the company in a research report on Thursday, April 24th. One analyst has rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $31.22.

IMAX Price Performance

The firm has a market capitalization of $1.52 billion, a price-to-earnings ratio of 57.66, a price-to-earnings-growth ratio of 1.49 and a beta of 0.79. The business has a fifty day moving average price of $24.96 and a two-hundred day moving average price of $24.93.

IMAX (NYSE:IMAX) last announced its quarterly earnings results on Wednesday, April 23rd. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.02. IMAX had a return on equity of 8.60% and a net margin of 7.40%. The company had revenue of $86.67 million for the quarter, compared to the consensus estimate of $82.95 million. The firm’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period last year, the firm earned $0.15 EPS. On average, research analysts predict that IMAX Co. will post 0.91 earnings per share for the current year.

Institutional Investors Weigh In On IMAX

Hedge funds and other institutional investors have recently made changes to their positions in the company. Jane Street Group LLC increased its holdings in IMAX by 2,496.9% in the first quarter. Jane Street Group LLC now owns 573,919 shares of the company’s stock valued at $15,123,000 after buying an additional 551,819 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of IMAX by 7.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 159,714 shares of the company’s stock valued at $4,208,000 after buying an additional 11,736 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of IMAX by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,486 shares of the company’s stock worth $672,000 after buying an additional 1,091 shares during the period. AQR Capital Management LLC lifted its position in shares of IMAX by 47.9% during the 1st quarter. AQR Capital Management LLC now owns 56,348 shares of the company’s stock valued at $1,485,000 after buying an additional 18,238 shares in the last quarter. Finally, PDT Partners LLC grew its stake in IMAX by 36.1% in the 1st quarter. PDT Partners LLC now owns 138,674 shares of the company’s stock valued at $3,654,000 after acquiring an additional 36,807 shares during the period. Institutional investors and hedge funds own 93.51% of the company’s stock.

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.