B. Riley Boosts IMAX (NYSE:IMAX) Price Target to $30.00

IMAX (NYSE:IMAXFree Report) had its price target increased by B. Riley from $27.00 to $30.00 in a research report report published on Monday, Benzinga reports. B. Riley currently has a buy rating on the stock. B. Riley also issued estimates for IMAX’s Q2 2024 earnings at $0.01 EPS, FY2024 earnings at $0.68 EPS, Q2 2025 earnings at $0.10 EPS and Q3 2025 earnings at $0.18 EPS.

Several other equities analysts have also recently commented on IMAX. Barrington Research reissued an outperform rating and set a $24.00 target price on shares of IMAX in a research report on Monday, April 22nd. Wedbush reissued an outperform rating and set a $22.00 target price on shares of IMAX in a research report on Friday, June 21st. Rosenblatt Securities reissued a buy rating and set a $25.00 target price on shares of IMAX in a research report on Monday, June 17th. Finally, Benchmark reissued a buy rating and set a $22.00 target price on shares of IMAX in a research report on Thursday, June 20th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $21.86.

Get Our Latest Stock Analysis on IMAX

IMAX Stock Performance

IMAX stock opened at $16.51 on Monday. The company has a market capitalization of $868.84 million, a P/E ratio of 34.40, a price-to-earnings-growth ratio of 1.40 and a beta of 1.26. IMAX has a 52-week low of $13.20 and a 52-week high of $20.70. The business has a 50-day simple moving average of $16.52 and a two-hundred day simple moving average of $15.89.

IMAX (NYSE:IMAXGet Free Report) last released its quarterly earnings results on Thursday, April 25th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.05. The business had revenue of $79.12 million during the quarter, compared to the consensus estimate of $77.88 million. IMAX had a return on equity of 9.47% and a net margin of 7.13%. As a group, sell-side analysts forecast that IMAX will post 0.61 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Calamera Pablo sold 6,130 shares of the business’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $17.05, for a total transaction of $104,516.50. Following the completion of the transaction, the executive vice president now directly owns 42,269 shares in the company, valued at approximately $720,686.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 24.08% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. purchased a new position in IMAX in the fourth quarter worth $33,000. Tower Research Capital LLC TRC lifted its stake in IMAX by 545.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,992 shares of the company’s stock worth $75,000 after purchasing an additional 4,218 shares during the last quarter. Partnership Wealth Management LLC bought a new stake in IMAX in the fourth quarter worth $111,000. SG Americas Securities LLC lifted its stake in IMAX by 65.5% in the fourth quarter. SG Americas Securities LLC now owns 11,868 shares of the company’s stock worth $178,000 after purchasing an additional 4,699 shares during the last quarter. Finally, PEAK6 Investments LLC bought a new stake in IMAX in the first quarter worth $210,000. 93.51% of the stock is currently owned by hedge funds and other institutional investors.

About IMAX

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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.

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Analyst Recommendations for IMAX (NYSE:IMAX)

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