Imax Corporation’s (IMAX) Buy Rating Reiterated at Wedbush
Other equities analysts have also recently issued reports about the stock. B. Riley restated a buy rating and set a $43.50 price target on shares of Imax Corporation in a report on Monday, July 10th. BidaskClub cut shares of Imax Corporation from a sell rating to a strong sell rating in a report on Wednesday, August 16th. Canaccord Genuity set a $33.00 price target on shares of Imax Corporation and gave the company a buy rating in a report on Friday, August 18th. Roth Capital set a $33.00 price target on shares of Imax Corporation and gave the company a buy rating in a report on Tuesday, June 13th. Finally, Barrington Research cut shares of Imax Corporation from an outperform rating to a market perform rating in a report on Wednesday, July 12th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the stock. The stock has a consensus rating of Hold and an average target price of $32.00.
Imax Corporation (NYSE:IMAX) last posted its quarterly earnings data on Wednesday, July 26th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.17. Imax Corporation had a net margin of 2.81% and a return on equity of 2.39%. The firm had revenue of $87.76 million for the quarter, compared to analysts’ expectations of $89.26 million. During the same period in the previous year, the company posted $0.18 EPS. The company’s quarterly revenue was down 4.3% compared to the same quarter last year.
In related news, CFO Patrick Mcclymont sold 1,760 shares of the company’s stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $20.50, for a total value of $36,080.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Greg Foster sold 9,417 shares of the company’s stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $19.55, for a total transaction 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 $1,310,201.90. The disclosure for this sale can be found here. Corporate insiders own 18.90% of the company’s stock.
Large investors have recently modified their holdings of the stock. Ameritas Investment Partners Inc. bought a new stake in Imax Corporation in the first quarter worth $173,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Imax Corporation by 13.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,522 shares of the company’s stock worth $181,000 after acquiring an additional 748 shares during the last quarter. BNP Paribas Arbitrage SA lifted its position in Imax Corporation by 1,151.0% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 6,818 shares of the company’s stock worth $150,000 after acquiring an additional 6,273 shares during the last quarter. Seven Eight Capital LP lifted its position in Imax Corporation by 1,115.7% during the 2nd quarter. Seven Eight Capital LP now owns 7,294 shares of the company’s stock worth $160,000 after acquiring an additional 6,694 shares during the last quarter. Finally, Aperio Group LLC acquired a new position in Imax Corporation during the 2nd quarter worth $205,000. Hedge funds and other institutional investors own 83.41% of the company’s stock.
About Imax Corporation
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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