Imax Corp. (IMAX) Given a $38.00 Price Target by Roth Capital Analysts
Imax Corp. (NYSE:IMAX) received a $38.00 price objective from analysts at Roth Capital in a report released on Monday. The brokerage currently has a a “buy” rating on the stock. Roth Capital’s target price points to a potential upside of 25.95% from the company’s current price.
Other equities analysts have also issued reports about the company. Wedbush reaffirmed an “outperform” rating and issued a $41.50 price target on shares of Imax Corp. in a report on Wednesday, September 21st. Zacks Investment Research lowered Imax Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, September 20th. Macquarie cut their price target on Imax Corp. from $42.00 to $41.00 and set an “outperform” rating for the company in a report on Wednesday, September 14th. Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $45.00 price target (up from $40.00) on shares of Imax Corp. in a report on Sunday, July 24th. Finally, Credit Suisse Group AG set a $42.00 price target on Imax Corp. and gave the stock a “buy” rating in a report on Thursday, July 21st. One investment analyst has rated the stock with a sell rating, two have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. Imax Corp. has an average rating of “Buy” and an average price target of $40.56.
Shares of Imax Corp. (NYSE:IMAX) traded down 0.53% during midday trading on Monday, reaching $30.01. The company had a trading volume of 1,709,073 shares. Imax Corp. has a one year low of $25.52 and a one year high of $40.36. The company has a 50 day moving average of $29.48 and a 200 day moving average of $30.78. The company has a market capitalization of $2.01 billion, a PE ratio of 43.30 and a beta of 1.55.
Imax Corp. (NYSE:IMAX) last announced its quarterly earnings data on Wednesday, July 20th. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.01. Imax Corp. had a return on equity of 7.66% and a net margin of 12.47%. The business earned $91.70 million during the quarter, compared to analyst estimates of $91.30 million. During the same period in the prior year, the company earned $0.40 earnings per share. Imax Corp.’s revenue was down 14.5% compared to the same quarter last year. Analysts predict that Imax Corp. will post $0.89 EPS for the current fiscal year.
In other news, CEO Richard L. Gelfond sold 7,741 shares of Imax Corp. stock in a transaction dated Friday, September 2nd. The stock was sold at an average price of $30.83, for a total value of $238,655.03. Following the transaction, the chief executive officer now owns 102,470 shares in the company, valued at $3,159,150.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 5.80% of the stock is owned by insiders.
Several hedge funds have recently bought and sold shares of the company. Pacad Investment Ltd. purchased a new stake in Imax Corp. during the first quarter valued at $255,000. Prudential Financial Inc. purchased a new stake in Imax Corp. during the first quarter valued at $426,000. BlackRock Inc. boosted its stake in Imax Corp. by 130.7% in the first quarter. BlackRock Inc. now owns 3,977 shares of the company’s stock valued at $123,000 after buying an additional 2,253 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in Imax Corp. by 2.2% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 580,828 shares of the company’s stock valued at $18,058,000 after buying an additional 12,322 shares during the last quarter. Finally, M&T Bank Corp boosted its stake in Imax Corp. by 7.0% in the first quarter. M&T Bank Corp now owns 81,456 shares of the company’s stock valued at $2,532,000 after buying an additional 5,330 shares during the last quarter. 79.80% of the stock is currently owned by institutional investors.
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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