Imax Corporation (IMAX) PT Set at $32.00 by Canaccord Genuity
Imax Corporation (NYSE:IMAX) has been assigned a $32.00 price target by Canaccord Genuity in a research note issued to investors on Monday. The firm currently has a “buy” rating on the stock. Canaccord Genuity’s target price points to a potential upside of 52.74% from the stock’s previous close.
A number of other brokerages have also issued reports on IMAX. Credit Suisse Group decreased their target price on shares of Imax Corporation from $26.00 to $25.00 and set a “neutral” rating on the stock in a research report on Thursday, September 28th. BidaskClub upgraded shares of Imax Corporation from a “sell” rating to a “hold” rating in a report on Friday, September 22nd. Barrington Research lowered shares of Imax Corporation from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 12th. B. Riley reiterated a “buy” rating and issued a $43.50 price target on shares of Imax Corporation in a report on Wednesday, July 5th. Finally, Zacks Investment Research upgraded shares of Imax Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $31.90.
Imax Corporation (IMAX) traded down 1.64% during mid-day trading on Monday, hitting $20.95. 566,498 shares of the stock traded hands. The stock’s 50 day moving average is $21.56 and its 200-day moving average is $23.98. The company has a market cap of $1.36 billion, a price-to-earnings ratio of 141.55 and a beta of 1.00. Imax Corporation has a 12 month low of $17.58 and a 12 month high of $35.30.
Imax Corporation (NYSE:IMAX) last announced its earnings results on Wednesday, July 26th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.17. Imax Corporation had a net margin of 2.81% and a return on equity of 2.39%. The firm had revenue of $87.76 million for the quarter, compared to analyst estimates of $89.26 million. During the same quarter last year, the business earned $0.18 earnings per share. Imax Corporation’s revenue was down 4.3% compared to the same quarter last year. On average, equities research analysts anticipate that Imax Corporation will post $0.57 EPS for the current year.
ILLEGAL ACTIVITY NOTICE: “Imax Corporation (IMAX) PT Set at $32.00 by Canaccord Genuity” was first posted by American Banking News and is the property of of American Banking News. If you are viewing this story on another site, it was illegally stolen and reposted in violation of international copyright and trademark legislation. The original version of this story can be viewed at https://www.americanbankingnews.com/2017/10/23/imax-corporation-imax-pt-set-at-32-00-by-canaccord-genuity.html.
In other news, CEO Greg Foster sold 9,417 shares of the firm’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 transaction, the chief executive officer now owns 67,018 shares of the company’s stock, valued at approximately $1,310,201.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Patrick Mcclymont sold 1,760 shares of the firm’s stock in a transaction on Wednesday, August 9th. The shares were 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. Company insiders own 18.90% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA increased its stake in Imax Corporation by 1,151.0% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 6,818 shares of the company’s stock worth $150,000 after buying an additional 6,273 shares during the period. Seven Eight Capital LP increased its stake in Imax Corporation by 1,115.7% during the 2nd quarter. Seven Eight Capital LP now owns 7,294 shares of the company’s stock worth $160,000 after buying an additional 6,694 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Imax Corporation by 13.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,522 shares of the company’s stock worth $181,000 after buying an additional 748 shares during the period. Aperio Group LLC purchased a new stake in Imax Corporation during the 2nd quarter worth $205,000. Finally, M&T Bank Corp purchased a new stake in Imax Corporation during the 2nd quarter worth $230,000. 83.36% of the stock is currently owned by hedge funds and other institutional investors.
About Imax Corporation
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.
Receive News & Ratings for Imax Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Imax Corporation and related companies with MarketBeat.com's FREE daily email newsletter.