Shares of Imax Corporation (NYSE:IMAX) have been given an average recommendation of “Buy” by the fifteen brokerages that are currently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, nine have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $31.40.
IMAX has been the topic of a number of research reports. BidaskClub raised shares of 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 shares of Imax Corporation and gave the company a “buy” rating in a research note on Friday, July 21st. Zacks Investment Research raised shares of Imax Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, September 12th. Barrington Research downgraded shares of Imax Corporation from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 12th. Finally, Wedbush reaffirmed an “outperform” rating and set a $35.00 price target on shares of Imax Corporation in a research note on Thursday, July 20th.
Shares of Imax Corporation (NYSE:IMAX) remained flat at $$24.10 during mid-day trading on Friday. 709,735 shares of the company’s stock traded hands, compared to its average volume of 998,748. Imax Corporation has a 1-year low of $17.58 and a 1-year high of $35.30. The firm has a market cap of $1,560.60, a PE ratio of 100.42, a P/E/G ratio of 3.54 and a beta of 1.12.
Imax Corporation (NYSE:IMAX) last issued its earnings results on Thursday, October 26th. The company reported $0.08 EPS for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.07. Imax Corporation had a net margin of 1.78% and a return on equity of 2.62%. The business had revenue of $98.80 million for the quarter, compared to the consensus estimate of $86.17 million. During the same quarter last year, the firm posted $0.12 EPS. The business’s revenue for the quarter was up 14.2% compared to the same quarter last year. equities research analysts expect that Imax Corporation will post 0.3 earnings per share for the current year.
In other news, CEO Greg Foster sold 9,417 shares of the business’s stock in a transaction dated 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 owns 67,018 shares of the company’s stock, valued at approximately $1,310,201.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Patrick Mcclymont sold 1,760 shares of the business’s stock in a transaction dated 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. 18.90% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Imax Corporation by 13.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,522 shares of the company’s stock worth $181,000 after purchasing an additional 748 shares during the last quarter. BNP Paribas Arbitrage SA increased its position in shares of Imax Corporation by 1,151.0% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 6,818 shares of the company’s stock worth $150,000 after purchasing an additional 6,273 shares during the last quarter. Seven Eight Capital LP boosted its holdings in shares of Imax Corporation by 1,115.7% in the 2nd quarter. Seven Eight Capital LP now owns 7,294 shares of the company’s stock valued at $160,000 after buying an additional 6,694 shares during the period. Aperio Group LLC acquired a new position in shares of Imax Corporation in the 2nd quarter valued at about $205,000. Finally, M&T Bank Corp acquired a new position in shares of Imax Corporation in the 2nd quarter valued at about $230,000. 82.88% of the stock is owned by institutional investors.
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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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