IMAX Corporation (NYSE:IMAX) Stock Has Average Price Target of $55.17 According to Brokerages

Shares of IMAX Corporation (NYSE:IMAX) have received a consensus recommendation of “Moderate Buy” from the fourteen ratings firms that are covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $55.17.

Several brokerages have weighed in on IMAX. HC Wainwright reiterated a “buy” rating on shares of IMAX in a research report on Friday, July 24th. Morgan Stanley started coverage on shares of IMAX in a report on Thursday. They issued an “overweight” rating and a $63.00 target price on the stock. Wedbush upped their price target on shares of IMAX from $46.00 to $54.00 and gave the company an “outperform” rating in a report on Friday, July 24th. B. Riley Financial increased their price target on shares of IMAX from $52.00 to $61.00 and gave the company a “buy” rating in a research report on Monday, August 24th. Finally, Roth Capital increased their price target on shares of IMAX from $50.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, September 3rd.

IMAX Trading Up 1.8%

NYSE IMAX opened at $56.18 on Friday. The firm has a market cap of $3.08 billion, a PE ratio of 78.03, a price-to-earnings-growth ratio of 1.71 and a beta of 0.40. IMAX has a 1-year low of $30.74 and a 1-year high of $56.68. The stock has a 50-day moving average of $50.57 and a 200-day moving average of $42.72.

IMAX (NYSE:IMAX) last posted its quarterly earnings results on Thursday, July 23rd. The company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.13. The business had revenue of $102.84 million for the quarter, compared to analyst estimates of $96.09 million. IMAX had a return on equity of 15.47% and a net margin of 9.84%.IMAX’s revenue for the quarter was up 12.2% compared to the same quarter last year. During the same period last year, the company earned $0.26 EPS. As a group, equities research analysts forecast that IMAX will post 1.54 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Natasha Fernandes sold 20,000 shares of the company’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $54.63, for a total transaction of $1,092,600.00. Following the completion of the transaction, the chief financial officer directly owned 35,596 shares of the company’s stock, valued at approximately $1,944,609.48. This represents a 35.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Kenneth Weissman sold 8,000 shares of the stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $54.54, for a total transaction of $436,320.00. Following the sale, the insider owned 28,205 shares of the company’s stock, valued at approximately $1,538,300.70. This represents a 22.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 507,257 shares of company stock valued at $26,673,571. 20.55% of the stock is currently owned by insiders.

Institutional Investors Weigh In On IMAX

Several institutional investors and hedge funds have recently bought and sold shares of the business. Triumph Capital Management grew its position in shares of IMAX by 3.0% in the 2nd quarter. Triumph Capital Management now owns 17,295 shares of the company’s stock worth $689,000 after buying an additional 504 shares during the last quarter. ProShare Advisors LLC increased its stake in shares of IMAX by 6.8% during the fourth quarter. ProShare Advisors LLC now owns 8,000 shares of the company’s stock valued at $296,000 after buying an additional 511 shares during the period. State of Wyoming raised its holdings in shares of IMAX by 7.6% during the first quarter. State of Wyoming now owns 7,910 shares of the company’s stock valued at $301,000 after acquiring an additional 562 shares in the last quarter. Quantinno Capital Management LP raised its holdings in shares of IMAX by 5.4% during the first quarter. Quantinno Capital Management LP now owns 18,844 shares of the company’s stock valued at $716,000 after acquiring an additional 957 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd raised its holdings in shares of IMAX by 159.8% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,006 shares of the company’s stock valued at $111,000 after acquiring an additional 1,849 shares in the last quarter. Hedge funds and other institutional investors own 93.51% of the company’s stock.

Key IMAX News

Here are the key news stories impacting IMAX this week:

• Positive Sentiment: Morgan Stanley initiated coverage of IMAX with an Overweight rating and a $63 price target, calling the company an important or “must-have” platform for movie theaters. The endorsement supports the view that IMAX can continue gaining share as exhibitors emphasize premium experiences. CNBC Morgan Stanley IMAX coverage
• Positive Sentiment: Analyst commentary suggests the success of major releases such as The Odyssey could help reshape the moviegoing experience and reinforce demand for IMAX screens, potentially supporting higher attendance and premium ticket pricing. The Odyssey and IMAX stock analysis
• Positive Sentiment: Disney+’s VisionQuest is reportedly receiving an early IMAX release, adding another high-profile title to the company’s content pipeline and broadening IMAX’s relationship with major studios and streaming platforms. Disney VisionQuest IMAX release
• Positive Sentiment: New Meta virtual-reality glasses reportedly include 5K displays and IMAX support, giving the brand potential exposure beyond traditional cinemas and creating a possible long-term licensing or partnership opportunity. Meta VR glasses with IMAX support
• Neutral Sentiment: Coverage of IMAX, Dolby and Meta’s immersive-entertainment efforts highlights the strategic value of premium formats, although the direct financial contribution from VR glasses remains uncertain. IMAX Dolby and Meta immersive entertainment
• Neutral Sentiment: Broader marketing of IMAX and 4DX may further differentiate premium theaters from standard cinemas, but the article does not establish a specific near-term earnings impact. IMAX and 4DX theater marketing

IMAX Company Profile

IMAX Corporation (NYSE: IMAX) is an entertainment technology company that develops and operates premium large-format cinema experiences. Its systems combine specialized projection, immersive sound, large screens and theater design to present feature films, documentaries and other filmed content.

The company provides cinema operators with IMAX projection and sound systems, including its IMAX with Laser technology, as well as theater design, installation and technical support. IMAX also works with filmmakers and studios on content capture, post-production and remastering to optimize movies for its format, including selected 2D and 3D releases.

Founded in 1967, IMAX has expanded from its origins in documentary and institutional film presentations into a global theatrical network.