IMAX (NYSE:IMAX) Hits New 12-Month High – Time to Buy?

IMAX Corporation (NYSE:IMAX)’s stock price reached a new 52-week high during trading on Wednesday . The company traded as high as $54.28 and last traded at $53.1970, with a volume of 312698 shares changing hands. The stock had previously closed at $50.55.

More IMAX News

Here are the key news stories impacting IMAX this week:

• Positive Sentiment: The Odyssey is generating record IMAX demand. The film has surpassed $300 million in worldwide IMAX box office, including a reported $47 million global weekend, and became the highest-grossing film ever at London’s BFI IMAX—overtaking Avatar. The results reinforce IMAX’s ability to benefit from major filmmaker-driven event films. IMAX Posts $47 Million Global Weekend Boosted by The Odyssey
• Positive Sentiment: Dune: Part Three is building significant advance demand. Reports describe ticketing websites crashing and previously sold-out IMAX screenings receiving additional ticket releases. The film’s planned large-format release, including select 70mm locations, could provide another meaningful attendance and licensing catalyst after The Odyssey. Dune Part Three ticket pre-sales
• Positive Sentiment: Rosenblatt Securities reaffirmed its “Buy” rating and assigned a $60 price target. The target implies additional upside from the stock’s recent trading level, signaling that the analyst sees continued benefit from IMAX’s film slate and recent operating momentum. Rosenblatt Securities rating update
• Neutral Sentiment: Upcoming demand remains dependent on a concentrated event-film pipeline. Dune: Part Three is expected to compete for audience attention and premium screens with Avengers: Doomsday, while reports of strong attendance at individual theaters—including San Antonio’s sole 70mm IMAX venue—highlight enthusiasm but do not by themselves establish companywide results. Dune Part 3 IMAX 70mm locations

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Wedbush increased their price target 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. Wells Fargo & Company upped their price objective on shares of IMAX from $41.00 to $45.00 and gave the company an “equal weight” rating in a research note on Friday, July 24th. JPMorgan Chase & Co. increased their target price on shares of IMAX from $47.00 to $50.00 and gave the stock an “overweight” rating in a report on Friday, July 24th. Wall Street Zen upgraded IMAX from a “hold” rating to a “buy” rating in a report on Saturday, July 25th. Finally, Barrington Research upped their price target on IMAX from $46.00 to $50.00 and gave the company an “outperform” rating in a research report on Friday, July 24th. Ten research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $51.55.

IMAX Price Performance

The firm has a market cap of $2.94 billion, a PE ratio of 74.34, a price-to-earnings-growth ratio of 1.74 and a beta of 0.38. The firm has a 50-day simple moving average of $44.00 and a 200 day simple moving average of $39.79.

IMAX (NYSE:IMAX) last announced its earnings results on Thursday, July 23rd. The company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.13. The firm had revenue of $102.84 million for the quarter, compared to analysts’ expectations of $96.09 million. IMAX had a net margin of 9.84% and a return on equity of 15.47%. The company’s quarterly revenue was up 12.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.26 EPS. Sell-side analysts forecast that IMAX Corporation will post 1.44 earnings per share for the current fiscal year.

Institutional Investors Weigh In On IMAX

Several hedge funds have recently bought and sold shares of IMAX. Caitong International Asset Management Co. Ltd lifted its position in IMAX by 28.7% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,489 shares of the company’s stock valued at $55,000 after purchasing an additional 332 shares during the period. ProShare Advisors LLC grew its position in IMAX by 6.8% in the 4th quarter. ProShare Advisors LLC now owns 8,000 shares of the company’s stock worth $296,000 after purchasing an additional 511 shares during the period. Charles Schwab Investment Management Inc. grew its position in IMAX by 0.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 108,781 shares of the company’s stock worth $4,021,000 after purchasing an additional 546 shares during the period. Quarry LP raised its stake in IMAX by 166.8% during the 4th quarter. Quarry LP now owns 875 shares of the company’s stock valued at $32,000 after buying an additional 547 shares during the last quarter. Finally, State of Wyoming raised its stake in IMAX by 7.6% during the 1st quarter. State of Wyoming now owns 7,910 shares of the company’s stock valued at $301,000 after buying an additional 562 shares during the last quarter. Institutional investors own 93.51% of the company’s stock.

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.