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Imax Corporation (NASDAQ:IMAX)‘s stock had its “neutral” rating restated by equities researchers at Sterne Agee in a research report issued on Monday, American Banking & Market News reports. They currently have a $27.00 price target on the stock, down from their previous price target of $28.00. Sterne Agee’s price objective indicates a potential downside of 10.27% from the company’s current price.

The analysts wrote, “Our title-by-title analysis of IMAX releases in 2H’13 implies a PSA of $1.0 mln for 2013. This is below the 2012 PSA of $1.2 mln which we had used for our previous forecast. We therefore think expectations for a base case slate performance going forward need to be moderated at this point. We are adjusting our estimates; our price target moves to $27 from $28, and we maintain a Neutral rating.”

Shares of Imax Corporation (NASDAQ:IMAX) traded up 0.20% during mid-day trading on Monday, hitting $30.15. 293,595 shares of the company’s stock traded hands. Imax Corporation has a 1-year low of $19.93 and a 1-year high of $30.27. The stock has a 50-day moving average of $28.01 and a 200-day moving average of $26.76. The company has a market cap of $2.022 billion and a P/E ratio of 48.61.

Imax Corporation (NASDAQ:IMAX) last posted its quarterly earnings results on Thursday, July 25th. The company reported $0.22 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.27 by $0.05. The company had revenue of $82.30 million for the quarter, compared to the consensus estimate of $77.34 million. During the same quarter in the prior year, the company posted $0.21 earnings per share. The company’s quarterly revenue was up 17.2% on a year-over-year basis. On average, analysts predict that Imax Corporation will post $0.76 earnings per share for the current fiscal year.

Other equities research analysts have also recently issued reports about the stock. Analysts at B. Riley cut their price target on shares of Imax Corporation (NASDAQ:IMAX) from $37.00 to $35.50 in a research note to investors on Wednesday, September 25th. They now have a “buy” rating on the stock. Separately, analysts at MKM Partners raised their price target on shares of Imax Corporation (NASDAQ:IMAX) from $30.00 to $34.00 in a research note to investors on Wednesday, September 18th. They now have a “buy” rating on the stock. Finally, analysts at Susquehanna raised their price target on shares of Imax Corporation (NASDAQ:IMAX) from $23.00 to $27.00 in a research note to investors on Thursday, August 22nd. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $30.17.

IMAX Corporation, together with its wholly owned subsidiaries, is an entertainment technology companies, specializing in motion picture technologies and presentations.

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