Imax Corp (NYSE:IMAX) has been given a consensus rating of “Buy” by the eight research firms that are presently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $26.83.
Several analysts have issued reports on IMAX shares. Wedbush reaffirmed an “outperform” rating on shares of Imax in a research note on Wednesday, January 30th. TheStreet raised Imax from a “c” rating to a “b-” rating in a research note on Friday, April 26th. B. Riley set a $34.00 target price on Imax and gave the stock a “buy” rating in a research note on Monday, April 8th. Barrington Research reaffirmed a “buy” rating and issued a $27.00 target price on shares of Imax in a research note on Wednesday, March 6th. Finally, Canaccord Genuity downgraded Imax from a “buy” rating to a “hold” rating and set a $23.00 price objective for the company. in a research report on Monday, February 25th.
IMAX traded up $0.14 during midday trading on Friday, hitting $23.65. The stock had a trading volume of 2,958 shares, compared to its average volume of 521,586. The firm has a market cap of $1.45 billion, a P/E ratio of 42.25, a P/E/G ratio of 1.49 and a beta of 1.08. Imax has a 1 year low of $17.55 and a 1 year high of $26.10.
Imax (NYSE:IMAX) last issued its earnings results on Friday, April 26th. The company reported $0.12 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.01. The business had revenue of $80.20 million during the quarter, compared to analyst estimates of $81.29 million. Imax had a return on equity of 6.31% and a net margin of 6.12%. Imax’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.21 earnings per share. As a group, equities research analysts anticipate that Imax will post 0.88 EPS for the current year.
In related news, CEO Richard L. Gelfond sold 8,648 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $24.48, for a total transaction of $211,703.04. Following the completion of the transaction, the chief executive officer now owns 245,279 shares in the company, valued at $6,004,429.92. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Jeffrey Vance sold 1,436 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $22.43, for a total value of $32,209.48. Following the transaction, the senior vice president now owns 3,875 shares of the company’s stock, valued at approximately $86,916.25. The disclosure for this sale can be found here. Insiders sold 150,930 shares of company stock valued at $3,452,599 in the last quarter. Corporate insiders own 18.70% of the company’s stock.
Several institutional investors have recently made changes to their positions in the stock. Shapiro Capital Management LLC raised its holdings in shares of Imax by 6.9% during the fourth quarter. Shapiro Capital Management LLC now owns 5,150,005 shares of the company’s stock valued at $96,872,000 after acquiring an additional 330,598 shares in the last quarter. BlackRock Inc. raised its holdings in Imax by 0.8% in the first quarter. BlackRock Inc. now owns 2,668,800 shares of the company’s stock worth $60,528,000 after purchasing an additional 20,651 shares in the last quarter. Jennison Associates LLC raised its holdings in Imax by 1.4% in the fourth quarter. Jennison Associates LLC now owns 2,402,161 shares of the company’s stock worth $45,185,000 after purchasing an additional 33,257 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Imax by 7.3% in the first quarter. Dimensional Fund Advisors LP now owns 1,845,522 shares of the company’s stock worth $41,857,000 after purchasing an additional 125,913 shares in the last quarter. Finally, Rice Hall James & Associates LLC raised its holdings in Imax by 18.4% in the first quarter. Rice Hall James & Associates LLC now owns 966,896 shares of the company’s stock worth $21,929,000 after purchasing an additional 149,971 shares in the last quarter. Institutional investors own 79.82% of the company’s stock.
Imax Company Profile
IMAX Corporation, together with its subsidiaries, operates as an entertainment technology company that specializes in motion picture technologies and presentations worldwide. It offers cinematic solution comprising proprietary software, theater architecture, and equipment. The company engages in Digital Re-Mastering (DMR) of films into the IMAX format for exhibition in the IMAX theater network; the provision of IMAX premium theater systems to exhibitor customers through sales, long-term leases, and joint revenue sharing arrangements; the distribution of documentary films; the provision of production technical support and film post-production services; the ownership and operation of IMAX theaters; and the provision of camera and other miscellaneous items rental services.
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