Somewhat Positive Media Coverage Somewhat Unlikely to Affect Imax (IMAX) Share Price
Media coverage about Imax (NYSE:IMAX) has been trending somewhat positive this week, according to Accern Sentiment. The research group ranks the sentiment of news coverage by monitoring more than 20 million blog and news sources in real time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores closest to one being the most favorable. Imax earned a media sentiment score of 0.16 on Accern’s scale. Accern also assigned news coverage about the company an impact score of 45.453134793164 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the next several days.
Here are some of the news articles that may have impacted Accern’s rankings:
- Huawei to Launch Mate 10 Pro in February in the U.S., World’s First Hybrid Smart Home Network Solution (telecomengine.com)
- Form 3 IMAX CORP For: Dec 31 Filed by: Weissman Kenneth Ian – StreetInsider.com (streetinsider.com)
- Huawei introduces Gal Gadot as the company’s first Chief Experience Officer (webwire.com)
- China’s Government Takes Aim at IMAX – Madison.com (host.madison.com)
- Imax Corporation Expected to Earn FY2017 Earnings of $0.23 Per Share (IMAX) (americanbankingnews.com)
IMAX has been the subject of a number of analyst reports. Barrington Research upgraded Imax from a “market perform” rating to an “outperform” rating and set a $32.00 price objective for the company in a research report on Monday, October 30th. B. Riley restated a “buy” rating and set a $35.00 price objective on shares of Imax in a research report on Monday, December 11th. Zacks Investment Research upgraded Imax from a “sell” rating to a “strong-buy” rating and set a $28.00 price objective for the company in a research report on Wednesday, November 1st. Wedbush restated a “buy” rating and set a $31.00 price objective on shares of Imax in a research report on Friday, October 27th. Finally, JPMorgan Chase & Co. upgraded Imax from a “neutral” rating to an “overweight” rating in a research report on Friday, October 27th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $29.30.
Imax (NYSE:IMAX) last released its earnings results on Thursday, October 26th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.01 by $0.07. Imax had a return on equity of 2.62% and a net margin of 1.78%. The business had revenue of $98.80 million during the quarter, compared to analysts’ expectations of $86.17 million. During the same quarter last year, the firm posted $0.12 earnings per share. The firm’s revenue was up 14.2% on a year-over-year basis. equities research analysts predict that Imax will post 0.23 earnings per share for the current fiscal year.
In other Imax news, insider Robert D. Lister sold 3,528 shares of the firm’s stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $23.97, for a total value of $84,566.16. Following the completion of the sale, the insider now owns 35,594 shares of the company’s stock, valued at $853,188.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Greg Foster sold 3,566 shares of the firm’s stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $23.97, for a total value of $85,477.02. Following the completion of the sale, the chief executive officer now directly owns 74,696 shares of the company’s stock, valued at approximately $1,790,463.12. The disclosure for this sale can be found here. Insiders have sold 17,050 shares of company stock valued at $425,276 in the last ninety days. 18.90% of the stock is currently owned by insiders.
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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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