Imax Corp. (IMAX) PT Set at $38.00 by Roth Capital
Imax Corp. (NYSE:IMAX) has been assigned a $38.00 price target by equities researchers at Roth Capital in a research note issued to investors on Monday. The brokerage presently has a a “buy” rating on the stock. Roth Capital’s price target indicates a potential upside of 25.95% from the company’s previous close.
IMAX has been the topic of a number of other research reports. Wedbush restated an “outperform” rating and issued a $41.50 target price on shares of Imax Corp. in a research report on Wednesday, September 21st. Zacks Investment Research cut Imax Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, September 20th. Macquarie dropped their price objective on Imax Corp. from $42.00 to $41.00 and set an “outperform” rating for the company in a research note on Wednesday, September 14th. Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $45.00 price objective (up from $40.00) on shares of Imax Corp. in a research note on Sunday, July 24th. Finally, Credit Suisse Group AG set a $42.00 price objective on Imax Corp. and gave the company a “buy” rating in a research note on Thursday, July 21st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $40.56.
Shares of Imax Corp. (NYSE:IMAX) traded down 0.53% during midday trading on Monday, hitting $30.01. The company had a trading volume of 1,715,162 shares. The company has a 50-day moving average of $29.48 and a 200 day moving average of $30.78. Imax Corp. has a 12 month low of $25.52 and a 12 month high of $40.36. The firm has a market capitalization 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 posted its earnings results on Wednesday, July 20th. The company reported $0.18 EPS for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.01. Imax Corp. had a return on equity of 7.66% and a net margin of 12.47%. The company had revenue of $91.70 million for the quarter, compared to the consensus estimate of $91.30 million. During the same quarter in the previous year, the business earned $0.40 earnings per share. The company’s revenue for the quarter was down 14.5% on a year-over-year basis. On average, analysts expect that Imax Corp. will post $0.89 EPS for the current fiscal year.
In other Imax Corp. news, CEO Richard L. Gelfond sold 7,741 shares of Imax Corp. stock in a transaction dated Friday, September 2nd. The stock was sold at an average price of $30.83, for a total transaction of $238,655.03. Following the completion of the sale, the chief executive officer now directly owns 102,470 shares of the company’s stock, valued at approximately $3,159,150.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 5.80% of the company’s stock.
Several hedge funds have recently bought and sold shares of IMAX. Fiera Capital Corp purchased a new stake in Imax Corp. during the second quarter valued at $38,064,000. Alliancebernstein L.P. increased its stake in Imax Corp. by 65.2% in the second quarter. Alliancebernstein L.P. now owns 2,551,591 shares of the company’s stock valued at $75,221,000 after buying an additional 1,007,308 shares during the last quarter. SG Capital Management LLC increased its stake in Imax Corp. by 290.9% in the second quarter. SG Capital Management LLC now owns 461,298 shares of the company’s stock valued at $13,599,000 after buying an additional 343,283 shares during the last quarter. Primecap Management Co. CA purchased a new stake in Imax Corp. during the first quarter valued at $10,346,000. Finally, Duff & Phelps Investment Management Co. purchased a new stake in Imax Corp. during the third quarter valued at $7,297,000. 79.80% of the stock is owned by institutional investors and hedge funds.
About Imax Corp.
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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