Healthy Upside Potential: IMAX Corporation (IMAX)

IMAX Corporation (NYSE: IMAX) stock fell -1.66% on Wednesday to $18.32 against a previous-day closing price of $18.63. With 0.57 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.55 million shares. During the session, the Entertainment company that operates in wider Communication Services sector, reached to the highest price of $18.60 whereas the lowest price it dropped to was $18.20. The 52-week range on IMAX shows that it touched its highest point at $21.82 and its lowest point at $12.13 during that stretch. It currently has a 1-year price target of $24.22. Beta for the stock currently stands at 1.40.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of IMAX was down-trending over the past week, with a drop of -5.27%, but this was down by -7.24% over a month. The stock gained 16.84% in the past year, while it has gained 24.97% so far this year. A look at the trailing 12-month EPS for IMAX yields -0.12 with Next year EPS estimates of 1.04. For the next quarter, that number is 0.21. This implies an EPS growth rate of -6.50% for this year and 29.66% for next year. EPS is expected to grow by 20.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of -33.60%.

Float and Shares Shorts:

At present, 54.06 million IMAX shares are outstanding with a float of 46.10 million shares on hand for trading. On May 14, 2023, short shares totaled 2.81 million, which was 5.16% higher than short shares on Apr 13, 2023. In addition to Mr. Richard Lewis Gelfond as the firm’s CEO & Director, Ms. Natasha Fernandes serves as its Exec. VP & CFO.

Institutional Ownership:

Other institutions hold 46.70% of IMAX, in contrast to 35.92% held by mutual funds. Shares owned by individuals account for 32.14%. As the largest shareholder in IMAX with 5.81% of the stake, FIAM LLC holds 3,134,912 shares worth 3,134,912. A second-largest stockholder of IMAX, Nantahala Capital Management LLC, holds 3,053,695 shares, controlling over 5.66% of the firm’s shares. Macquarie Investment Management B is the third largest shareholder in IMAX, holding 3,002,830 shares or 5.56% stake. With a 3.98% stake in IMAX, the Delaware Small Cap Core Fund is the largest stakeholder. A total of 2,146,156 shares are owned by the mutual fund manager. The Invesco Funds – Global Consumer T, which owns about 3.76% of IMAX stock, is the second-largest Mutual Fund holder. It holds 2,031,300 shares valued at 42.56 million. Fidelity Strategic Advisers US To holds 1.94% of the stake in IMAX, owning 1,047,620 shares worth 21.95 million.

An Overview of Recent Financials:

Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, IMAX reported revenue of $73.97M and operating income of $4.48M. The EBITDA in the recently reported quarter was $5.86M and diluted EPS was -$0.05.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for IMAX since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With IMAX analysts setting a high price target of $27.00 and a low target of $15.00, the average target price over the next 12 months is $23.90. Based on these targets, IMAX could surge 47.38% to reach the target high and fall by -18.12% to reach the target low. Reaching the average price target will result in a growth of 30.46% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.

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