Imax Corporation (IMAX) Given a $29.00 Price Target by Wedbush Analysts
Imax Corporation (NYSE:IMAX) has been given a $29.00 price objective by Wedbush in a research report issued on Thursday. The firm presently has a “buy” rating on the stock. Wedbush’s target price points to a potential upside of 36.15% from the stock’s current price.
Several other equities analysts also recently issued reports on the company. B. Riley set a $35.00 price objective on Imax Corporation and gave the stock a “buy” rating in a research report on Thursday. BidaskClub downgraded Imax Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, October 12th. Zacks Investment Research downgraded Imax Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, October 11th. Credit Suisse Group cut their target price on Imax Corporation from $26.00 to $25.00 and set a “neutral” rating for the company in a research report on Thursday, September 28th. Finally, Piper Jaffray Companies restated a “buy” rating and issued a $28.00 target price on shares of Imax Corporation in a research report on Sunday, September 17th. Three analysts have rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $32.00.
Shares of Imax Corporation (IMAX) traded up 1.91% during trading on Thursday, hitting $21.30. The stock had a trading volume of 498,152 shares. The firm has a market cap of $1.38 billion, a P/E ratio of 133.12 and a beta of 1.00. The firm’s 50-day moving average is $21.56 and its 200-day moving average is $23.98. Imax Corporation has a one year low of $17.58 and a one year high of $35.30.
Imax Corporation (NYSE:IMAX) last issued its quarterly earnings data on Wednesday, July 26th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.17. The business had revenue of $87.76 million during the quarter, compared to the consensus estimate 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 in the previous year, the firm posted $0.18 earnings per share. Equities research analysts forecast that Imax Corporation will post $0.57 EPS for the current year.
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In related news, CEO Greg Foster sold 9,417 shares of the company’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $19.55, for a total value of $184,102.35. Following the completion of the sale, the chief executive officer now directly owns 67,018 shares in the company, valued at $1,310,201.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Patrick Mcclymont sold 1,760 shares of the company’s stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $20.50, for a total transaction of $36,080.00. The disclosure for this sale can be found here. Insiders own 18.90% of the company’s stock.
Large investors have recently modified their holdings of the stock. Paloma Partners Management Co bought a new stake in Imax Corporation in the first quarter worth $1,504,000. North Star Investment Management Corp. boosted its holdings in Imax Corporation by 1,000.0% during the second quarter. North Star Investment Management Corp. now owns 38,500 shares of the company’s stock valued at $847,000 after acquiring an additional 35,000 shares during the period. Eagle Asset Management Inc. boosted its holdings in Imax Corporation by 26.2% during the second quarter. Eagle Asset Management Inc. now owns 197,641 shares of the company’s stock valued at $4,348,000 after acquiring an additional 40,991 shares during the period. Pembroke Management LTD bought a new stake in Imax Corporation during the second quarter valued at about $19,949,000. Finally, Denver Investment Advisors LLC boosted its holdings in Imax Corporation by 8.3% during the second quarter. Denver Investment Advisors LLC now owns 26,265 shares of the company’s stock valued at $578,000 after acquiring an additional 2,015 shares during the period. Hedge funds and other institutional investors own 83.36% of the company’s stock.
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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