Imax Corp (IMAX) Receives “Buy” Rating from B. Riley
Imax Corp (NYSE:IMAX)‘s stock had its “buy” rating reissued by equities researchers at B. Riley in a report released on Saturday. They currently have a $46.00 price target on the stock. B. Riley’s price objective would indicate a potential upside of 69.74% from the company’s current price.
IMAX has been the subject of several other reports. Zacks Investment Research cut shares of Imax Corp from a “hold” rating to a “strong sell” rating in a research note on Wednesday, March 1st. Wedbush reaffirmed an “outperform” rating and set a $41.50 target price on shares of Imax Corp in a research note on Friday, February 24th. Credit Suisse Group AG cut shares of Imax Corp from an “outperform” rating to a “neutral” rating and set a $34.00 target price for the company. in a research note on Tuesday, January 31st. Barrington Research reaffirmed an “outperform” rating and set a $40.00 target price on shares of Imax Corp in a research note on Sunday, February 26th. Finally, Canaccord Genuity set a $39.00 target price on shares of Imax Corp and gave the company a “buy” rating in a research note on Monday, February 27th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Imax Corp presently has an average rating of “Buy” and an average price target of $40.10.
Imax Corp (NYSE:IMAX) remained flat at $27.10 during mid-day trading on Friday. The company’s stock had a trading volume of 1,270,182 shares. The stock has a market cap of $1.80 billion, a PE ratio of 104.23 and a beta of 1.16. Imax Corp has a 52 week low of $26.48 and a 52 week high of $35.30. The company’s 50 day moving average price is $30.94 and its 200-day moving average price is $31.98.
Imax Corp (NYSE:IMAX) last posted its earnings results on Thursday, April 20th. The company reported $0.06 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.05 by $0.01. The company had revenue of $68.70 million during the quarter, compared to analysts’ expectations of $71.53 million. Imax Corp had a net margin of 10.86% and a return on equity of 5.99%. Imax Corp’s quarterly revenue was down 25.4% on a year-over-year basis. During the same period last year, the company posted $0.22 earnings per share. Equities analysts forecast that Imax Corp will post $0.95 EPS for the current fiscal year.
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In other news, CEO Greg Foster sold 6,585 shares of the firm’s stock in a transaction dated Wednesday, March 8th. The shares were sold at an average price of $32.26, for a total value of $212,432.10. Following the completion of the sale, the chief executive officer now owns 56,100 shares in the company, valued at approximately $1,809,786. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Eileen Campbell sold 8,512 shares of the firm’s stock in a transaction dated Wednesday, March 8th. The stock was sold at an average price of $32.26, for a total transaction of $274,597.12. Following the completion of the sale, the insider now owns 15,829 shares of the company’s stock, valued at approximately $510,643.54. The disclosure for this sale can be found here. Insiders have sold 115,097 shares of company stock valued at $3,807,029 in the last quarter. 5.80% of the stock is owned by company insiders.
Several large investors have recently added to or reduced their stakes in IMAX. BNP Paribas Arbitrage SA raised its stake in 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. BlackRock Inc. raised its stake in 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. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Imax Corp by 78.9% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,774 shares of the company’s stock valued at $156,000 after buying an additional 2,546 shares during the period. FNY Partners Fund LP purchased a new stake in Imax Corp during the fourth quarter valued at about $173,000. Finally, Ameritas Investment Partners Inc. purchased a new stake in Imax Corp during the first quarter valued at about $173,000. Hedge funds and other institutional investors own 83.42% of the company’s stock.
Imax Corp Company Profile
IMAX Corporation is an entertainment technology company. The Company operates through seven segments: IMAX systems; theater system maintenance; 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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