Imax Corp. (IMAX) Earns Buy Rating from MKM Partners
Imax Corp. (NYSE:IMAX)‘s stock had its “buy” rating reaffirmed by MKM Partners in a research note issued on Tuesday. They currently have a $40.00 target price on the stock. MKM Partners’ price objective suggests a potential upside of 32.71% from the company’s previous close.
Several other research firms also recently commented on IMAX. Canaccord Genuity reissued a “buy” rating on shares of Imax Corp. in a report on Tuesday, July 19th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $45.00 price target on shares of Imax Corp. in a report on Thursday, June 23rd. Wedbush reaffirmed an “outperform” rating and issued a $41.50 price target on shares of Imax Corp. in a report on Monday. Zacks Investment Research downgraded shares of Imax Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, June 21st. Finally, B. Riley reaffirmed a “buy” rating and issued a $42.50 price target on shares of Imax Corp. in a report on Tuesday, September 20th. 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 issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $40.56.
Shares of Imax Corp. (NYSE:IMAX) traded up 1.41% on Tuesday, reaching $30.14. The company had a trading volume of 896,519 shares. The firm has a market capitalization of $2.02 billion, a price-to-earnings ratio of 43.49 and a beta of 1.55. Imax Corp. has a 52 week low of $25.52 and a 52 week high of $40.36. The stock’s 50 day moving average is $29.48 and its 200 day moving average is $30.77.
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Imax Corp. (NYSE:IMAX) last released its quarterly earnings data on Wednesday, July 20th. The company reported $0.18 EPS for the quarter, beating the 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 business earned $91.70 million during the quarter, compared to the consensus estimate of $91.30 million. During the same quarter in the prior year, the firm earned $0.40 EPS. The business’s revenue was down 14.5% on a year-over-year basis. On average, equities 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 the firm’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 $3,159,150.10. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 5.80% of the stock is currently owned by company insiders.
A number of large investors have recently made changes to their positions in the stock. BlackRock Inc. increased 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 valued at $123,000 after buying an additional 2,253 shares during the period. BNP Paribas Arbitrage SA increased its stake in shares of Imax Corp. by 75.0% in the third quarter. BNP Paribas Arbitrage SA now owns 4,085 shares of the company’s stock valued at $118,000 after buying an additional 1,751 shares during the period. Advisor Group Inc. purchased a new stake in shares of Imax Corp. during the second quarter valued at $121,000. Ladenburg Thalmann Financial Services Inc. increased 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 valued at $206,000 after buying an additional 4,849 shares during the period. Finally, Mackenzie Financial Corp purchased a new stake in shares of Imax Corp. during the second quarter valued at $218,000. Institutional investors own 79.80% 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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