Imax Corp. (IMAX) Given a $38.00 Price Target by Roth Capital Analysts
Imax Corp. (NYSE:IMAX) has been given a $38.00 price target by equities research analysts at Roth Capital in a note issued to investors on Monday. The firm presently has a a “buy” rating on the stock. Roth Capital’s price target would indicate a potential upside of 25.95% from the stock’s current price.
A number of other equities analysts also recently issued reports on IMAX. Zacks Investment Research downgraded shares of Imax Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, June 21st. Benchmark Co. reiterated a “buy” rating on shares of Imax Corp. in a research note on Wednesday, June 22nd. Stifel Nicolaus reiterated a “buy” rating and set a $45.00 price objective on shares of Imax Corp. in a research note on Thursday, June 23rd. Credit Suisse Group AG reiterated a “buy” rating on shares of Imax Corp. in a research note on Wednesday, June 22nd. Finally, Canaccord Genuity restated a “buy” rating on shares of Imax Corp. in a research note on Wednesday, June 22nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $40.56.
Shares of Imax Corp. (NYSE:IMAX) traded down 0.53% during midday trading on Monday, reaching $30.01. 1,709,073 shares of the company’s stock were exchanged. Imax Corp. has a one year low of $25.52 and a one year high of $40.36. The stock’s 50-day moving average is $29.48 and its 200 day moving average is $30.78. The firm has a market cap of $2.01 billion, a PE ratio of 43.30 and a beta of 1.55.
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Imax Corp. (NYSE:IMAX) last released its quarterly earnings data on Wednesday, July 20th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.01. Imax Corp. had a net margin of 12.47% and a return on equity of 7.66%. The firm had revenue of $91.70 million for the quarter, compared to the consensus estimate of $91.30 million. During the same period last year, the firm earned $0.40 earnings per share. The company’s quarterly revenue was down 14.5% on a year-over-year basis. Analysts anticipate that Imax Corp. will post $0.89 EPS for the current year.
In other Imax Corp. news, CEO Richard L. Gelfond sold 7,741 shares of Imax Corp. stock in a transaction 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 transaction, the chief executive officer now owns 102,470 shares of the company’s stock, valued at $3,159,150.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 5.80% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IMAX. Emerald Mutual Fund Advisers Trust boosted its position in Imax Corp. by 2.5% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 8,757 shares of the company’s stock worth $258,000 after buying an additional 214 shares during the last quarter. Rhumbline Advisers boosted its position in Imax Corp. by 0.5% in the second quarter. Rhumbline Advisers now owns 58,929 shares of the company’s stock worth $1,737,000 after buying an additional 304 shares during the last quarter. Seven Eight Capital LLC boosted its position in 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. Trillium Asset Management LLC boosted its position in Imax Corp. by 1.0% in the second quarter. Trillium Asset Management LLC now owns 65,488 shares of the company’s stock worth $1,931,000 after buying an additional 618 shares during the last quarter. Finally, BB&T Securities LLC boosted its position in Imax Corp. by 3.4% in the first quarter. BB&T Securities LLC now owns 23,303 shares of the company’s stock worth $724,000 after buying an additional 774 shares during the last quarter. 79.80% of the stock is owned by institutional investors.
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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