IMAX (NYSE:IMAX) Sets New 1-Year High - Here's Why

IMAX Co. (NYSE:IMAX - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $28.42 and last traded at $27.61, with a volume of 228927 shares traded. The stock had previously closed at $27.85.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. B. Riley reissued a "buy" rating and issued a $36.00 target price on shares of IMAX in a research note on Friday, May 16th. Barrington Research reiterated an "outperform" rating and issued a $32.00 price target on shares of IMAX in a report on Thursday, April 24th. JPMorgan Chase & Co. lowered their price objective on IMAX from $27.00 to $26.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Benchmark reissued a "buy" rating and set a $30.00 price objective on shares of IMAX in a report on Thursday, April 10th. Finally, Macquarie raised their target price on shares of IMAX from $30.00 to $32.00 and gave the company an "outperform" rating in a research note on Friday, April 25th. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, IMAX currently has a consensus rating of "Buy" and a consensus target price of $31.22.

IMAX Price Performance

The stock has a market cap of $1.49 billion, a price-to-earnings ratio of 56.57, a price-to-earnings-growth ratio of 1.49 and a beta of 0.79. The firm has a 50 day simple moving average of $25.09 and a two-hundred day simple moving average of $25.09.

IMAX (NYSE:IMAX - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The company reported $0.13 earnings per share for the quarter, beating analysts' consensus estimates of $0.11 by $0.02. The business had revenue of $86.67 million for the quarter, compared to the consensus estimate of $82.95 million. IMAX had a net margin of 7.40% and a return on equity of 8.60%. IMAX's revenue for the quarter was up 9.6% on a year-over-year basis. During the same period last year, the company posted $0.15 EPS. On average, sell-side analysts expect that IMAX Co. will post 0.91 earnings per share for the current fiscal year.

Institutional Trading of IMAX

Large investors have recently made changes to their positions in the company. SG Americas Securities LLC acquired a new position in IMAX in the fourth quarter valued at about $333,000. Janney Montgomery Scott LLC lifted its holdings in shares of IMAX by 1.9% during the 4th quarter. Janney Montgomery Scott LLC now owns 29,176 shares of the company's stock valued at $747,000 after purchasing an additional 533 shares in the last quarter. Blue Trust Inc. grew its position in shares of IMAX by 138.5% in the 4th quarter. Blue Trust Inc. now owns 966 shares of the company's stock valued at $25,000 after purchasing an additional 561 shares during the period. Calamos Advisors LLC bought a new stake in IMAX during the 4th quarter worth approximately $351,000. Finally, Savant Capital LLC bought a new stake in IMAX during the 4th quarter worth approximately $249,000. 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.