Imax Corp. (NYSE:IMAX) Receives $40.96 Consensus Target Price from Brokerages
Shares of Imax Corp. (NYSE:IMAX) have earned a consensus rating of “Buy” from the sixteen ratings firms that are currently covering the firm. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $40.96.
Several equities research analysts have recently weighed in on the stock. Piper Jaffray Cos. reissued an “overweight” rating and issued a $45.00 target price (up previously from $40.00) on shares of Imax Corp. in a research note on Sunday, July 24th. B. Riley restated a “buy” rating and issued a $42.50 price target on shares of Imax Corp. in a report on Monday, July 25th. Credit Suisse Group AG restated a “buy” rating on shares of Imax Corp. in a report on Wednesday, June 22nd. Stifel Nicolaus restated a “buy” rating and issued a $45.00 price target on shares of Imax Corp. in a report on Wednesday, August 3rd. Finally, Wedbush restated an “outperform” rating and issued a $41.50 price target (up from $40.00) on shares of Imax Corp. in a report on Sunday, July 24th.
In related news, CEO Richard L. Gelfond sold 7,741 shares of the stock in a transaction that occurred on Friday, September 2nd. The shares were sold at an average price of $30.83, for a total value of $238,655.03. Following the completion of the transaction, the chief executive officer now directly owns 102,470 shares of the company’s stock, valued at approximately $3,159,150.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.80% of the stock is currently owned by corporate insiders.
Institutional investors have recently bought and sold shares of the company. BNP Paribas Arbitrage SA raised its position in Imax Corp. by 75.0% in the third quarter. BNP Paribas Arbitrage SA now owns 4,085 shares of the company’s stock worth $118,000 after buying an additional 1,751 shares in the last quarter. Advisor Group Inc. acquired a new position in Imax Corp. during the second quarter worth about $121,000. BlackRock Inc. raised its position in Imax Corp. by 130.7% in the first quarter. BlackRock Inc. now owns 3,977 shares of the company’s stock worth $123,000 after buying an additional 2,253 shares in the last quarter. Mackenzie Financial Corp acquired a new position in Imax Corp. during the second quarter worth about $218,000. Finally, Seven Eight Capital LLC raised its position in Imax Corp. by 8.3% in the first quarter. Seven Eight Capital LLC now owns 7,800 shares of the company’s stock worth $243,000 after buying an additional 600 shares in the last quarter. 79.77% of the stock is owned by institutional investors.
Imax Corp. (NYSE:IMAX) opened at 29.03 on Friday. Imax Corp. has a one year low of $25.52 and a one year high of $40.36. The stock has a market capitalization of $1.95 billion, a PE ratio of 41.89 and a beta of 1.55. The firm has a 50-day moving average of $29.67 and a 200 day moving average of $30.84.
Imax Corp. (NYSE:IMAX) last announced its earnings results on Wednesday, July 20th. The company reported $0.18 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.01. Imax Corp. had a net margin of 12.47% and a return on equity of 7.66%. The business had revenue of $91.70 million for the quarter, compared to the consensus estimate of $91.30 million. During the same quarter in the prior year, the firm posted $0.40 earnings per share. The business’s revenue for the quarter was down 14.5% on a year-over-year basis. On average, equities research analysts anticipate that Imax Corp. will post $0.89 earnings per share for the current fiscal year.
About Imax Corp.
IMAX Corporation is an entertainment technology company. The Company operates through seven segments: the IMAX systems, the theater system maintenance, the 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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