Wedbush reiterated their outperform rating on shares of Imax Corp. (NYSE:IMAX) in a research note released on Monday morning. The firm currently has a $41.50 price target on the stock.

Other analysts also recently issued research reports about the stock. B. Riley reissued a buy rating and issued a $40.00 price objective on shares of Imax Corp. in a report on Monday, July 18th. Zacks Investment Research downgraded shares of Imax Corp. from a hold rating to a sell rating in a report on Wednesday, July 13th. Benchmark Co. reissued a buy rating on shares of Imax Corp. in a report on Wednesday, June 22nd. Stifel Nicolaus reissued a buy rating and issued a $45.00 price objective on shares of Imax Corp. in a report on Wednesday, August 3rd. Finally, Canaccord Genuity reissued a buy rating on shares of Imax Corp. in a report on Tuesday, July 19th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. Imax Corp. has a consensus rating of Buy and an average target price of $40.56.

Analyst Recommendations for Imax Corp. (NYSE:IMAX)

Imax Corp. (NYSE:IMAX) traded up 2.42% during midday trading on Monday, reaching $30.44. 197,218 shares of the company’s stock were exchanged. The company has a market cap of $2.04 billion, a price-to-earnings ratio of 43.92 and a beta of 1.55. The firm has a 50-day moving average price of $29.46 and a 200 day moving average price of $30.77. Imax Corp. has a 52 week low of $25.52 and a 52 week high of $40.36.

Imax Corp. (NYSE:IMAX) last announced its earnings results on Wednesday, July 20th. The company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.17 by $0.01. The business earned $91.70 million during the quarter, compared to the consensus estimate of $91.30 million. Imax Corp. had a net margin of 12.47% and a return on equity of 7.66%. Imax Corp.’s revenue was down 14.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.40 EPS. Analysts anticipate that Imax Corp. will post $0.89 EPS for the current year.

In other Imax Corp. news, CEO Richard L. Gelfond sold 7,741 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now directly owns 102,470 shares of the company’s stock, valued at $3,159,150.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 5.80% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. TimesSquare Capital Management LLC increased its stake in shares of Imax Corp. by 3.0% in the second quarter. TimesSquare Capital Management LLC now owns 3,387,511 shares of the company’s stock valued at $99,864,000 after buying an additional 98,100 shares in the last quarter. Alliancebernstein L.P. increased its stake in shares of Imax Corp. by 65.2% in the second quarter. Alliancebernstein L.P. now owns 2,551,591 shares of the company’s stock valued at $75,221,000 after buying an additional 1,007,308 shares in the last quarter. Fiera Capital Corp purchased a new stake in shares of Imax Corp. during the second quarter valued at approximately $38,064,000. State Street Corp increased its stake in shares of Imax Corp. by 1.5% in the second quarter. State Street Corp now owns 1,020,454 shares of the company’s stock valued at $30,084,000 after buying an additional 15,457 shares in the last quarter. Finally, Lord Abbett & CO. LLC increased its stake in shares of Imax Corp. by 19.3% in the second quarter. Lord Abbett & CO. LLC now owns 993,539 shares of the company’s stock valued at $29,290,000 after buying an additional 160,907 shares in the last quarter. 79.80% of the stock is currently owned by hedge funds and other institutional investors.

Imax Corp. Company Profile

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.

5 Day Chart for NYSE:IMAX

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