Imax Corporation (IMAX) Given Consensus Recommendation of “Buy” by Brokerages
Shares of Imax Corporation (NYSE:IMAX) have received an average recommendation of “Buy” from the fifteen brokerages that are presently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation, nine have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $31.40.
A number of research firms have weighed in on IMAX. Zacks Investment Research raised Imax Corporation from a “sell” rating to a “strong-buy” rating and set a $28.00 price target for the company in a research report on Wednesday, November 1st. Barrington Research raised Imax Corporation from a “market perform” rating to an “outperform” rating and set a $32.00 price target for the company in a research report on Monday, October 30th. B. Riley reaffirmed a “buy” rating and set a $35.00 price target on shares of Imax Corporation in a research report on Friday, October 27th. Wedbush reaffirmed a “buy” rating and set a $31.00 price target on shares of Imax Corporation in a research report on Friday, October 27th. Finally, J P Morgan Chase & Co raised Imax Corporation from a “neutral” rating to an “overweight” rating in a research report on Friday, October 27th.
Shares of Imax Corporation (NYSE IMAX) traded up $0.20 on Friday, hitting $23.55. The company had a trading volume of 536,276 shares, compared to its average volume of 1,135,128. Imax Corporation has a 1-year low of $17.58 and a 1-year high of $35.30. The firm has a market cap of $1,520.00, a price-to-earnings ratio of 100.63, a PEG ratio of 3.55 and a beta of 1.12.
Imax Corporation (NYSE:IMAX) last issued its quarterly earnings data on Thursday, October 26th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.07. Imax Corporation 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 analyst estimates of $86.17 million. During the same period in the previous year, the firm earned $0.12 EPS. Imax Corporation’s quarterly revenue was up 14.2% compared to the same quarter last year. analysts anticipate that Imax Corporation will post 0.3 EPS for the current fiscal year.
In other news, CEO Greg Foster sold 9,417 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 67,018 shares in the company, valued at approximately $1,310,201.90. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 18.90% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Dynamic Technology Lab Private Ltd bought a new stake in shares of Imax Corporation during the 2nd quarter worth approximately $539,000. Schwab Charles Investment Management Inc. raised its stake in shares of Imax Corporation by 5.9% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 99,100 shares of the company’s stock worth $2,181,000 after purchasing an additional 5,500 shares in the last quarter. Janus Henderson Group PLC bought a new stake in Imax Corporation in the 2nd quarter valued at $12,359,000. North Star Investment Management Corp. raised its stake in Imax Corporation by 1,000.0% in the 2nd quarter. North Star Investment Management Corp. now owns 38,500 shares of the company’s stock valued at $847,000 after acquiring an additional 35,000 shares during the period. Finally, Eagle Asset Management Inc. raised its stake in Imax Corporation by 26.2% in the 2nd quarter. Eagle Asset Management Inc. now owns 197,641 shares of the company’s stock valued at $4,348,000 after acquiring an additional 40,991 shares during the period. Institutional investors own 82.44% of the company’s stock.
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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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