IMAX (NYSE:IMAX) Stock Price Expected to Rise, Rosenblatt Securities Analyst Says

IMAX (NYSE:IMAX) had its price objective boosted by equities researchers at Rosenblatt Securities from $60.00 to $65.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Rosenblatt Securities’ price target points to a potential upside of 23.65% from the stock’s current price.

Several other research analysts also recently weighed in on the stock. Wells Fargo & Company boosted their target price 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. lifted their price target on IMAX from $47.00 to $50.00 and gave the company an “overweight” rating in a report on Friday, July 24th. Roth Capital boosted their target price on IMAX from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, September 3rd. Wedbush raised their price objective on shares of IMAX from $46.00 to $54.00 and gave the stock an “outperform” rating in a research report on Friday, July 24th. Finally, Weiss Ratings upgraded IMAX from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, July 16th. Ten investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, IMAX currently has an average rating of “Moderate Buy” and a consensus price target of $54.45.

IMAX Trading Up 1.8%

Shares of IMAX stock opened at $52.57 on Wednesday. The stock has a market capitalization of $2.88 billion, a P/E ratio of 73.01, a P/E/G ratio of 1.60 and a beta of 0.40. IMAX has a 12-month low of $30.30 and a 12-month high of $55.57. The firm’s 50 day moving average is $46.84 and its 200 day moving average is $41.51.

IMAX (NYSE:IMAX) last announced its earnings results on Thursday, July 23rd. The company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.13. The company had revenue of $102.84 million during the quarter, compared to the consensus estimate of $96.09 million. IMAX had a net margin of 9.84% and a return on equity of 15.47%. IMAX’s revenue was up 12.2% compared to the same quarter last year. During the same period last year, the firm earned $0.26 earnings per share. As a group, equities analysts predict that IMAX will post 1.53 earnings per share for the current year.

Insiders Place Their Bets

In other IMAX news, insider Kenneth Weissman sold 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 25th. The shares were 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 trade represents a 22.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Natasha Fernandes sold 20,000 shares of the stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $54.63, for a total value of $1,092,600.00. Following the transaction, the chief financial officer directly owned 35,596 shares of the company’s stock, valued at approximately $1,944,609.48. This trade represents a 35.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 484,757 shares of company stock worth $25,513,021 in the last ninety days. 20.55% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On IMAX

Several hedge funds have recently bought and sold shares of the company. Engineers Gate Manager LP grew its position in shares of IMAX by 227.7% in the 2nd quarter. Engineers Gate Manager LP now owns 29,205 shares of the company’s stock worth $1,164,000 after buying an additional 20,293 shares during the last quarter. Nykredit A S purchased a new stake in IMAX in the second quarter worth $105,000. California State Teachers Retirement System lifted its position in IMAX by 3,785.1% during the second quarter. California State Teachers Retirement System now owns 2,104,728 shares of the company’s stock valued at $83,894,000 after acquiring an additional 2,050,554 shares during the last quarter. Triumph Capital Management increased its stake in shares of IMAX by 3.0% in the 2nd quarter. Triumph Capital Management now owns 17,295 shares of the company’s stock valued at $689,000 after purchasing an additional 504 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in shares of IMAX in the 2nd quarter worth $380,000. 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: IMAX reported a record $728 million in worldwide summer box office from Memorial Day through Labor Day, up 73% from its prior 2023 record. The network captured 5.8% of the overall box office across more than 1,800 screens, suggesting strong consumer demand and operating leverage for the premium cinema format. IMAX summer box office record
• Positive Sentiment: Christopher Nolan’s The Odyssey has driven a historic IMAX run, reportedly approaching the $500 million mark, and its engagement has been extended through September. The extended run indicates sustained demand and could provide additional box-office contributions beyond the company’s record summer period. The Odyssey IMAX milestone
• Positive Sentiment: Star Wars: Starfighter and a 50th-anniversary re-release of the original Star Wars: A New Hope are scheduled for IMAX 70mm releases in 2027. The combination of a major franchise, premium large-format presentation and anniversary interest could boost future ticket sales and strengthen IMAX’s content pipeline. Star Wars IMAX 70mm releases
• Neutral Sentiment: A new IMAX trailer for Godzilla Minus Zero adds another potentially attractive event-film release, but the financial impact will depend on final audience reception and box-office performance. Godzilla Minus Zero IMAX trailer

IMAX Company Profile

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.