Imax Corporation (IMAX) Given Average Recommendation of “Buy” by Brokerages
Imax Corporation (NYSE:IMAX) has received an average recommendation of “Buy” from the fourteen research firms that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and nine have given a buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $38.17.
Several research analysts have recently commented on IMAX shares. Canaccord Genuity set a $39.00 target price on shares of Imax Corporation and gave the stock a “buy” rating in a report on Monday, February 27th. Zacks Investment Research raised shares of Imax Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, March 28th. B. Riley reaffirmed a “buy” rating and set a $46.00 target price on shares of Imax Corporation in a report on Saturday, February 25th. Roth Capital set a $37.00 price target on shares of Imax Corporation and gave the stock a “buy” rating in a research report on Thursday, April 20th. Finally, Barrington Research reiterated an “outperform” rating and set a $40.00 price target on shares of Imax Corporation in a research report on Sunday, February 26th.
Imax Corporation (IMAX) traded up 0.80% on Tuesday, reaching $25.20. The company’s stock had a trading volume of 1,860,823 shares. The firm has a market capitalization of $1.68 billion, a PE 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 announced its earnings results on Thursday, April 20th. The company reported $0.06 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.05 by $0.01. Imax Corporation had a net margin of 5.46% and a return on equity of 2.49%. The company had revenue of $68.70 million for the quarter, compared to analysts’ expectations of $71.53 million. During the same period last year, the firm earned $0.22 earnings per share. The business’s revenue for the quarter was down 25.4% on a year-over-year basis. Analysts predict that Imax Corporation will post $0.86 EPS for the current year.
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In other news, Director Eric A. Demirian sold 2,670 shares of Imax Corporation stock in a transaction 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 transaction, the director now owns 17,945 shares in the company, valued at $450,419.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 18.90% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. United Services Automobile Association raised its position in shares of Imax Corporation by 37.3% in the third quarter. United Services Automobile Association now owns 132,819 shares of the company’s stock worth $3,848,000 after buying an additional 36,100 shares during the period. Penn Capital Management Co. Inc. increased its position in shares of Imax Corporation by 8.2% in the third quarter. Penn Capital Management Co. Inc. now owns 227,106 shares of the company’s stock worth $6,579,000 after buying an additional 17,264 shares in the last quarter. Russell Investments Group Ltd. purchased a new position in shares of Imax Corporation during the fourth quarter worth $1,360,000. Frontier Capital Management Co. LLC increased its position 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 worth $71,639,000 after buying an additional 26,506 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System increased its position in shares of Imax Corporation by 0.9% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 22,008 shares of the company’s stock worth $691,000 after buying an additional 190 shares in the last quarter. Institutional investors own 88.60% of the company’s stock.
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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