Imax Corporation (IMAX) Given Average Recommendation of “Hold” by Analysts
Shares of Imax Corporation (NYSE:IMAX) have earned a consensus recommendation of “Hold” from the fifteen brokerages that are currently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $31.11.
A number of equities analysts have recently weighed in on IMAX shares. BidaskClub upgraded Imax Corporation from a “sell” rating to a “hold” rating in a research note on Monday, July 24th. Piper Jaffray Companies set a $35.00 target price on Imax Corporation and gave the stock a “buy” rating in a research note on Friday, July 21st. Zacks Investment Research upgraded Imax Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, September 12th. Barrington Research lowered Imax Corporation from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 12th. Finally, MKM Partners lowered their target price on Imax Corporation from $40.00 to $30.00 and set a “buy” rating on the stock in a research note on Friday, July 7th.
Shares of Imax Corporation (IMAX) traded down 1.494% on Wednesday, hitting $21.425. The company had a trading volume of 480,943 shares. Imax Corporation has a 12-month low of $17.58 and a 12-month high of $35.30. The firm has a market capitalization of $1.39 billion, a P/E ratio of 133.906 and a beta of 1.00. The firm has a 50 day moving average of $20.94 and a 200-day moving average of $24.58.
Imax Corporation (NYSE:IMAX) last released its quarterly earnings data on Wednesday, July 26th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.17. The company had revenue of $87.76 million during the quarter, compared to analysts’ expectations of $89.26 million. Imax Corporation had a return on equity of 2.39% and a net margin of 2.81%. The business’s revenue was down 4.3% on a year-over-year basis. During the same period last year, the firm posted $0.18 earnings per share. On average, equities analysts predict that Imax Corporation will post $0.60 EPS for the current year.
In other news, CEO Greg Foster sold 9,417 shares of Imax Corporation stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $19.55, for a total value of $184,102.35. Following the transaction, the chief executive officer now owns 67,018 shares in the company, valued at approximately $1,310,201.90. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Patrick Mcclymont sold 1,760 shares of Imax Corporation stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $20.50, for a total value of $36,080.00. The disclosure for this sale can be found here. 18.90% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of IMAX. TimesSquare Capital Management LLC bought a new position in shares of Imax Corporation in the 2nd quarter valued at $84,137,000. BlackRock Inc. increased its stake in shares of Imax Corporation by 54,861.2% in the 1st quarter. BlackRock Inc. now owns 2,607,357 shares of the company’s stock valued at $88,651,000 after purchasing an additional 2,602,613 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of Imax Corporation by 33.4% in the 2nd quarter. Franklin Resources Inc. now owns 5,063,469 shares of the company’s stock valued at $111,412,000 after purchasing an additional 1,266,939 shares during the last quarter. Pembroke Management LTD bought a new position in shares of Imax Corporation in the 2nd quarter valued at $19,949,000. Finally, Point72 Asset Management L.P. bought a new position in shares of Imax Corporation in the 1st quarter valued at $29,760,000. Institutional investors own 83.41% of the company’s stock.
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Imax Corporation 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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