Shares of Imax Corp. (NYSE:IMAX) have been assigned a consensus rating of “Buy” from the sixteen ratings firms that are currently covering the company. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation, twelve have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $40.96.
IMAX has been the topic of a number of research analyst reports. B. Riley reaffirmed a “buy” rating and set a $40.00 target price on shares of Imax Corp. in a report on Monday, July 18th. Canaccord Genuity reaffirmed a “buy” rating on shares of Imax Corp. in a report on Wednesday, June 22nd. Credit Suisse Group AG reaffirmed a “buy” rating on shares of Imax Corp. in a report on Wednesday, June 22nd. Stifel Nicolaus reaffirmed a “buy” rating and set a $45.00 target price on shares of Imax Corp. in a report on Thursday, June 23rd. Finally, Benchmark Co. reaffirmed a “buy” rating on shares of Imax Corp. in a report on Wednesday, June 22nd.
Imax Corp. (NYSE:IMAX) traded down 1.44% during mid-day trading on Friday, hitting $28.82. The company had a trading volume of 270,599 shares. The firm has a market cap of $1.93 billion, a P/E ratio of 41.59 and a beta of 1.55. The stock’s 50 day moving average price is $29.71 and its 200 day moving average price is $30.86. Imax Corp. has a 52-week low of $25.52 and a 52-week high of $40.36.
Imax Corp. (NYSE:IMAX) last released its earnings results on Wednesday, July 20th. The company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.01. Imax Corp. had a return on equity of 7.66% and a net margin of 12.47%. The company had revenue of $91.70 million for the quarter, compared to the consensus estimate of $91.30 million. During the same quarter last year, the business posted $0.40 EPS. Imax Corp.’s quarterly revenue was down 14.5% compared to the same quarter last year. On average, equities research analysts predict that Imax Corp. will post $0.89 EPS for the current fiscal year.
In other news, CEO Richard L. Gelfond sold 7,741 shares of Imax Corp. stock in a transaction on Friday, September 2nd. The stock was sold at an average price of $30.83, for a total transaction of $238,655.03. Following the transaction, the chief executive officer now directly owns 102,470 shares in the company, valued at approximately $3,159,150.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 5.80% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Fiera Capital Corp bought a new stake in Imax Corp. during the second quarter valued at $38,064,000. Alliancebernstein L.P. raised its stake in Imax Corp. by 65.2% in the second quarter. Alliancebernstein L.P. now owns 2,551,591 shares of the company’s stock valued at $75,221,000 after buying an additional 1,007,308 shares in the last quarter. TIAA CREF Investment Management LLC raised its stake in Imax Corp. by 93.9% in the first quarter. TIAA CREF Investment Management LLC now owns 1,206,057 shares of the company’s stock valued at $37,496,000 after buying an additional 583,957 shares in the last quarter. SG Capital Management LLC raised its stake in Imax Corp. by 290.9% in the second quarter. SG Capital Management LLC now owns 461,298 shares of the company’s stock valued at $13,599,000 after buying an additional 343,283 shares in the last quarter. Finally, Primecap Management Co. CA bought a new stake in Imax Corp. during the first quarter valued at $10,346,000. 79.77% of the stock is owned by institutional investors and hedge funds.
About Imax Corp.
IMAX Corporation is an entertainment technology company. The Company operates through seven segments: the IMAX systems, the theater system maintenance, the joint revenue sharing arrangements, film production and IMAX DMR, film distribution, film post-production and other. The IMAX systems segment designs, manufactures, sells or leases IMAX theater projection system equipment.
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