IMAX has been the subject of a number of other research reports. Wedbush reaffirmed an outperform rating and set a $41.50 target price on shares of Imax Corp. in a research report on Wednesday, September 21st. Zacks Investment Research cut Imax Corp. from a hold rating to a sell rating in a research report on Tuesday, September 20th. Macquarie reduced their price objective on Imax Corp. from $42.00 to $41.00 and set an outperform rating for the company in a research report on Wednesday, September 14th. Piper Jaffray Cos. reissued an overweight rating and issued a $45.00 price objective (up from $40.00) on shares of Imax Corp. in a research report on Sunday, July 24th. Finally, Canaccord Genuity reissued a buy rating on shares of Imax Corp. in a research report on Wednesday, June 22nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus price target of $40.56.
Shares of Imax Corp. (NYSE:IMAX) opened at 30.14 on Tuesday. The company has a market cap of $2.02 billion, a price-to-earnings ratio of 43.49 and a beta of 1.55. Imax Corp. has a 1-year low of $25.52 and a 1-year high of $40.36. The firm’s 50-day moving average is $29.48 and its 200 day moving average is $30.77.
Imax Corp. (NYSE:IMAX) last announced its earnings results on Wednesday, July 20th. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.01. The firm earned $91.70 million during the quarter, compared to analysts’ expectations of $91.30 million. Imax Corp. had a return on equity of 7.66% and a net margin of 12.47%. The company’s revenue was down 14.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.40 earnings per share. Equities analysts expect 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 the 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 sale, the chief executive officer now owns 102,470 shares in the company, valued at $3,159,150.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 5.80% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Fiera Capital Corp acquired a new stake in shares of Imax Corp. during the second quarter valued at approximately $38,064,000. Alliancebernstein L.P. boosted its stake in shares of 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 during the last quarter. SG Capital Management LLC boosted its stake in shares of 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 during the last quarter. Primecap Management Co. CA acquired a new stake in shares of Imax Corp. during the first quarter valued at approximately $10,346,000. Finally, Duff & Phelps Investment Management Co. acquired a new stake in shares of Imax Corp. during the third quarter valued at approximately $7,297,000. Institutional investors own 79.80% of the company’s stock.
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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