IMAX (NYSE:IMAX) Reaches New 52-Week High - What's Next?

IMAX Co. (NYSE:IMAX - Get Free Report) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $27.88 and last traded at $27.78, with a volume of 131898 shares traded. The stock had previously closed at $26.97.

Analyst Ratings Changes

Several equities analysts have recently issued reports on IMAX shares. Wells Fargo & Company lowered their price target on IMAX from $32.00 to $30.00 and set an "overweight" rating for the company in a research report on Thursday, April 24th. Wedbush reaffirmed an "outperform" rating and issued a $32.00 price objective on shares of IMAX in a research note on Thursday, April 17th. Wall Street Zen upgraded IMAX from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. Rosenblatt Securities restated a "buy" rating and issued a $35.00 price target on shares of IMAX in a research report on Thursday, April 24th. Finally, Macquarie raised their price target on IMAX from $30.00 to $32.00 and gave the company an "outperform" rating in a research note on Friday, April 25th. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $31.22.

IMAX Trading Down 0.3%

The company has a fifty day moving average of $25.01 and a 200-day moving average of $24.97. The company has a market capitalization of $1.49 billion, a price-to-earnings ratio of 56.62, a PEG ratio of 1.49 and a beta of 0.79.

IMAX (NYSE:IMAX - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported $0.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.11 by $0.02. The firm had revenue of $86.67 million during the quarter, compared to the consensus estimate of $82.95 million. IMAX had a return on equity of 8.60% and a net margin of 7.40%. The company's quarterly revenue was up 9.6% on a year-over-year basis. During the same period last year, the company earned $0.15 EPS. As a group, equities research analysts expect that IMAX Co. will post 0.91 EPS for the current year.

Institutional Investors Weigh In On IMAX

Several large investors have recently modified their holdings of IMAX. Blue Trust Inc. raised its position in IMAX by 138.5% in the fourth quarter. Blue Trust Inc. now owns 966 shares of the company's stock worth $25,000 after acquiring an additional 561 shares in the last quarter. Creative Financial Designs Inc. ADV purchased a new position in IMAX in the first quarter worth $59,000. Tower Research Capital LLC TRC raised its position in IMAX by 415.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 7,236 shares of the company's stock worth $185,000 after acquiring an additional 5,832 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new position in IMAX in the first quarter worth $202,000. Finally, Wealthfront Advisers LLC purchased a new position in IMAX in the fourth quarter worth $217,000. Hedge funds and other institutional investors own 93.51% of the company's stock.

IMAX Company Profile

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.