Imax Corp. (IMAX) Rating Reiterated by Wedbush
Imax Corp. (NYSE:IMAX)‘s stock had its “outperform” rating restated by equities researchers at Wedbush in a research report issued to clients and investors on Wednesday. They presently have a $41.50 price objective on the stock. Wedbush’s price target indicates a potential upside of 40.82% from the stock’s previous close.
Other analysts also recently issued research reports about the stock. B. Riley restated a “buy” rating and set a $40.00 price objective on shares of Imax Corp. in a report on Sunday, June 12th. Zacks Investment Research downgraded shares of Imax Corp. from a “hold” rating to a “sell” rating in a report on Wednesday, July 13th. MKM Partners reiterated a “buy” rating and issued a $40.00 target price on shares of Imax Corp. in a research note on Tuesday, May 24th. Benchmark Co. reiterated a “buy” rating on shares of Imax Corp. in a research note on Wednesday, June 22nd. Finally, Credit Suisse Group AG reiterated a “buy” rating on shares of Imax Corp. in a research note on Tuesday, May 24th. One research analyst has rated the stock with a sell rating, two have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $40.56.
Shares of Imax Corp. (NYSE:IMAX) traded up 1.31% during trading on Wednesday, reaching $29.47. 434,543 shares of the company traded hands. Imax Corp. has a 12-month low of $25.52 and a 12-month high of $40.36. The stock has a market capitalization of $1.98 billion, a PE ratio of 42.53 and a beta of 1.62. The firm’s 50-day moving average is $30.59 and its 200-day moving average is $31.07.
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Imax Corp. (NYSE:IMAX) last posted its quarterly earnings data 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. Imax Corp. had a net margin of 12.47% and a return on equity of 7.66%. The business earned $91.70 million during the quarter, compared to the consensus estimate of $91.30 million. During the same quarter last year, the company posted $0.40 earnings per share. The firm’s quarterly revenue was down 14.5% compared to the same quarter last year. On average, equities analysts predict that Imax Corp. will post $0.91 earnings per share for the current fiscal year.
In other news, CEO Richard L. Gelfond sold 7,741 shares of the business’s stock in a transaction that occurred on Friday, September 2nd. The shares were sold at an average price of $30.83, for a total value of $238,655.03. Following the completion of the sale, 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 document filed with the SEC, which is available at this hyperlink. 5.80% of the stock is currently owned by insiders.
Several large investors have recently made changes to their positions in the company. Advisor Group Inc. acquired a new stake in shares of Imax Corp. during the second quarter worth $121,000. BlackRock Inc. raised its stake in shares of Imax Corp. by 130.7% in the first quarter. BlackRock Inc. now owns 3,977 shares of the company’s stock worth $123,000 after buying an additional 2,253 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. raised its stake in shares of Imax Corp. by 273.6% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 6,621 shares of the company’s stock worth $206,000 after buying an additional 4,849 shares during the last quarter. Mackenzie Financial Corp acquired a new stake in shares of Imax Corp. during the second quarter worth $218,000. Finally, Seven Eight Capital LLC raised its stake in shares of Imax Corp. by 8.3% in the first quarter. Seven Eight Capital LLC now owns 7,800 shares of the company’s stock worth $243,000 after buying an additional 600 shares during the last quarter. Hedge funds and other institutional investors own 79.77% of the company’s stock.
Imax Corp. Company Profile
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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