The stock of IMAX Corporation (NYSE:IMAX) increased by $0.17 on Friday to finish at $19.51, up 0.88 percent. The last five days have seen an average of 662,820 shares of common stock traded. 24 times new highs were reached in the current year, with a gain of $4.85. The average number of shares traded over the last 20 days was 759,295, while the average volume over the last 50 days totaled 618,804.
IMAX stock appreciated 7.85% since last month. On 07/21/23, the company’s shares reached a one-month low of $16.15. The stock touched a high of $21.82 on 04/28/23, after rallying from a low of $12.13 in 52 weeks. The price of IMAX stock has risen by 33.08% or $4.85 this year, reaching a new high 24 times. Still, the stock price is down -10.59% from the 52-week high.
Insider Transactions
IMAX stock investors should be aware that IMAX Corporation (IMAX) stock had its last reported insider trading activity 17 days ago on Jul 28. On Jul 28, CTO & EVP PABLO CALAMERA sold 3,516 shares at $18.98 each. This transaction resulted in the insider making $66,734. On May 01, GELFOND RICHARD L sold 100,000 shares at a price of US$20.95. After the transaction, the insider now owns 388,678 shares. Deputy GC & Corp. Secretary Weissman Kenneth Ian had earlier sold 10,000 shares on May 01 for $21.12 a share. The transaction was completed for $211,216.
Valuation Metrics
IMAX Corporation (IMAX) has a trailing price-to-earnings (P/E) ratio of 232.26. Beta for the stock is 1.36. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 3.00, the price-to-book (PB) ratio of 3.93, and the price-to-cash flow ratio of 29.51.
Financial Health
The company’s long-term debt to equity ratio for the quarter ending June 29 is 0.95, and the total debt to equity ratio is 0.95. As far as profitability goes, gross margin for the trailing twelve months is 53.60% percent. IMAX Corporation’s EBITDA margin for the year ended June 29 was 20.31%, whereas its operating margin stood at 8.20% for the same period. Based on annual data, it had gross profit of $156.35 million and revenue of $300.81 million.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. IMAX’s return on assets (ROA) during the last 12 months has been 0.50%. There was a -2.80% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 1.70%.
Earnings Surprise
According to IMAX Corporation’s quarterly financial report for the quarter that ended June 29. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $97.98 million, while revenues rose by 24.51% to $86.95 million. It was predicted that IMAX Corporation’s quarterly earnings would be $0.26, but it ended up being $0.16, beating the consensus by 62.50%. EBITDA was $28.73 million for the quarter. At the end of IMAX Corporation’s most recent quarter ended June 29, its liabilities totaled 478.82 million, while its total debt was $270.31 million. Equity owned by shareholders amounts to $54.62 million.
Technical Picture
Here’s a quick look at IMAX Corporation’s (IMAX) price momentum from a technical perspective. As of 11 August, the RSI 9-day stood at 66.57%, suggesting the stock is Neutral, with a 26.87% historical volatility rate.
The stochastic %K and %D were 65.80% and 68.53% respectively, while the average true range (ATR) was 0.77. Based on the 14-day stochastic reading of 70.18%, the RSI (14) reading is 63.80%. On the 9-day MACD Oscillator, the stock is at 0.13, and the 14-day reading is at 0.52.
Analyst Ratings
In a note to investors, Barrington Research maintained its an Outperform rating on IMAX Corporation (NYSE: IMAX). However, the firm raised their price target to $24, indicating a possible increase of 11.32% in the stock price. Analysts have assigned IMAX Corporation (IMAX) an Overweight rating. IMAX is a stock that is recommended for selling by 1 brokerage firm, while 1 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 0 rates it overweight and 8 others recommend it as a buy.
What is IMAX’s price target for the next 12 months?
The current consensus forecast for the stock is between $15.00 and $30.00, with a median target price of $25.50. In analyzing these forecasts, the average price target given by analysts for IMAX Corporation (IMAX) is $24.20.
