Imax Corporation (NYSE:IMAX) – Stock analysts at B. Riley decreased their FY2017 earnings per share (EPS) estimates for shares of Imax in a note issued to investors on Monday. B. Riley analyst E. Wold now forecasts that the company will earn $0.23 per share for the year, down from their previous forecast of $0.29. B. Riley currently has a “Buy” rating and a $35.00 target price on the stock. B. Riley also issued estimates for Imax’s Q3 2018 earnings at $0.28 EPS, Q4 2018 earnings at $0.26 EPS and Q1 2019 earnings at $0.09 EPS.

Imax (NYSE:IMAX) last issued its quarterly earnings data on Thursday, October 26th. The company reported $0.08 EPS for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.07. The company had revenue of $98.80 million for the quarter, compared to analysts’ expectations of $86.17 million. Imax had a return on equity of 2.62% and a net margin of 1.78%. The firm’s quarterly revenue was up 14.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.12 earnings per share.

A number of other brokerages have also recently commented on IMAX. Barrington Research upgraded Imax from a “market perform” rating to an “outperform” rating and set a $32.00 price objective on the stock in a research note on Monday, October 30th. Zacks Investment Research upgraded Imax from a “sell” rating to a “strong-buy” rating and set a $28.00 price objective on the stock in a research note on Wednesday, November 1st. Wedbush restated a “buy” rating and set a $31.00 price objective on shares of Imax in a research note on Friday, October 27th. JPMorgan Chase & Co. upgraded Imax from a “neutral” rating to an “overweight” rating in a research note on Friday, October 27th. Finally, Credit Suisse Group reduced their price objective on Imax from $26.00 to $25.00 and set a “neutral” rating on the stock in a research note on Thursday, September 28th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $30.00.

Imax (IMAX) opened at $20.45 on Wednesday. The company has a market capitalization of $1,320.00, a PE ratio of 204.50, a price-to-earnings-growth ratio of 1.10 and a beta of 1.13. Imax has a one year low of $17.58 and a one year high of $34.60.

In related news, insider Mark Welton sold 8,985 shares of the business’s stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $25.81, for a total value of $231,902.85. Following the completion of the sale, the insider now directly owns 16,331 shares of the company’s stock, valued at $421,503.11. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Robert D. Lister sold 3,528 shares of the business’s stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $23.97, for a total value of $84,566.16. Following the completion of the sale, the insider now directly owns 35,594 shares of the company’s stock, valued at $853,188.18. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 17,050 shares of company stock worth $425,276. Corporate insiders own 18.90% of the company’s stock.

A number of institutional investors have recently made changes to their positions in IMAX. Franklin Resources Inc. increased its holdings in Imax by 33.4% in the second quarter. Franklin Resources Inc. now owns 5,063,469 shares of the company’s stock valued at $111,412,000 after buying an additional 1,266,939 shares during the last quarter. Becker Capital Management Inc. grew its holdings in shares of Imax by 229.6% during the third quarter. Becker Capital Management Inc. now owns 979,755 shares of the company’s stock valued at $22,191,000 after purchasing an additional 682,485 shares during the last quarter. Light Street Capital Management LLC grew its holdings in shares of Imax by 69.7% during the second quarter. Light Street Capital Management LLC now owns 1,400,000 shares of the company’s stock valued at $30,800,000 after purchasing an additional 575,000 shares during the last quarter. Janus Henderson Group PLC bought a new position in shares of Imax during the second quarter valued at approximately $12,359,000. Finally, Vivaldi Asset Management LLC bought a new position in shares of Imax during the third quarter valued at approximately $10,670,000. 83.91% of the stock is owned by hedge funds and other institutional investors.

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About Imax

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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