Imax Corporation Lowered to “Reduce” at Cormark (IMAX)
Imax Corporation (NASDAQ:IMAX) was downgraded by research analysts at Cormark from a “market perform” rating to a “reduce” rating in a report released on Thursday, AnalystRatings.Net reports. They currently have a $22.00 target price on the stock, down from their previous target price of $23.00. Cormark’s price objective would suggest a potential downside of 22.54% from the company’s current price.
Shares of Imax Corporation (NASDAQ:IMAX) traded down 4.89% on Thursday, hitting $27.01. The stock had a trading volume of 733,802 shares. Imax Corporation has a 52 week low of $20.07 and a 52 week high of $30.34. The stock has a 50-day moving average of $28.21 and a 200-day moving average of $26.84. The company has a market cap of $1.811 billion and a price-to-earnings ratio of 45.88.
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 $0.74 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Benchmark Co. initiated coverage on shares of Imax Corporation (NASDAQ:IMAX) in a research note to investors on Wednesday. They set a “hold” rating and a $29.42 price target on the stock. Separately, analysts at Sterne Agee reiterated a “neutral” rating on shares of Imax Corporation (NASDAQ:IMAX) in a research note to investors on Monday. They now have a $27.00 price target on the stock, down previously from $28.00. Finally, 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. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $29.36.
IMAX Corporation, together with its wholly owned subsidiaries, is an entertainment technology companies, specializing in motion picture technologies and presentations.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.