Wedbush reissued their outperform rating on shares of Imax Corporation (NYSE:IMAX) in a research report report published on Friday, May 12th, MarketBeat reports. They currently have a $39.00 price target on the stock.
A number of other brokerages have also commented on IMAX. MKM Partners reissued a buy rating and set a $40.00 price objective on shares of Imax Corporation in a report on Tuesday, April 25th. Credit Suisse Group lowered Imax Corporation from an outperform rating to a neutral rating and set a $34.00 target price for the company. in a report on Tuesday, January 31st. Roth Capital set a $37.00 target price on Imax Corporation and gave the company a buy rating in a report on Thursday, April 20th. Barrington Research reaffirmed an outperform rating and issued a $40.00 target price on shares of Imax Corporation in a report on Sunday, February 26th. Finally, Canaccord Genuity reiterated a buy rating and issued a $39.00 price objective on shares of Imax Corporation in a research note on Monday, April 10th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the stock. Imax Corporation has a consensus rating of Buy and a consensus target price of $38.85.
Imax Corporation (NYSE IMAX) traded up 0.80% during trading on Friday, reaching $25.20. The company’s stock had a trading volume of 1,860,823 shares. The firm has a market cap of $1.68 billion, a P/E ratio of 96.92 and a beta of 0.95. Imax Corporation has a 52 week low of $23.60 and a 52 week high of $35.30. The stock’s 50 day moving average is $27.26 and its 200-day moving average is $30.99.
Imax Corporation (NYSE:IMAX) last issued its earnings results on Thursday, April 20th. The company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.01. Imax Corporation had a return on equity of 2.49% and a net margin of 5.46%. The business had revenue of $68.70 million during the quarter, compared to analyst estimates of $71.53 million. During the same period in the previous year, the company posted $0.22 EPS. The firm’s revenue was down 25.4% compared to the same quarter last year. On average, equities research analysts forecast that Imax Corporation will post $0.86 earnings per share for the current fiscal year.
In other news, Director Eric A. Demirian sold 2,670 shares of Imax Corporation stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $25.10, for a total transaction of $67,017.00. Following the completion of the transaction, the director now directly owns 17,945 shares in the company, valued at $450,419.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 18.90% of the stock is currently owned by company insiders.
Large investors have recently made changes to their positions in the stock. Frontier Capital Management Co. LLC increased its stake in shares of Imax Corporation by 1.2% in the fourth quarter. Frontier Capital Management Co. LLC now owns 2,281,504 shares of the company’s stock valued at $71,639,000 after buying an additional 26,506 shares during the period. Sei Investments Co. increased its stake in Imax Corporation by 25.0% in the first quarter. Sei Investments Co. now owns 206,850 shares of the company’s stock worth $7,033,000 after buying an additional 41,414 shares during the period. Franklin Resources Inc. increased its stake in Imax Corporation by 8.1% in the fourth quarter. Franklin Resources Inc. now owns 3,740,680 shares of the company’s stock worth $117,459,000 after buying an additional 281,797 shares during the period. Kornitzer Capital Management Inc. KS bought a new stake in Imax Corporation during the third quarter worth approximately $5,927,000. Finally, Garnet Equity Capital Holdings Inc. bought a new stake in Imax Corporation during the third quarter worth approximately $2,752,000. 88.60% of the stock is owned by institutional investors.
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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