Imax Corporation (NYSE: IMAX) recently received a number of ratings updates from brokerages and research firms:

  • 8/3/2017 – Imax Corporation had its “neutral” rating reaffirmed by analysts at J P Morgan Chase & Co. They now have a $27.00 price target on the stock.
  • 8/2/2017 – Imax Corporation was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “IMAX has inked multiple deals to expand its global presence. Its focus on China is particularly encouraging, as the market offers significant commercial potential. The company's decision to announce a new buyback program worth up to $200 million is also impressive. IMAX intends to trim its workforce by approximately 14%, in a bid to drive its bottom line and increase efficiencies. The synergies are anticipated to be realized from the third quarter of this year. However, IMAX has delivered a below-par box office performance over the last few months. Moreover, it performed disappointingly in the second quarter of 2017. The bottom line contracted on a year over year basis, while revenues fell short of the Zacks Consensus Estimate. Additionally, the disappointing Memorial Day weekend turnout has hurt the stock. Shares of IMAX have underperformed its industry on a year-to-date basis. “
  • 8/1/2017 – Imax Corporation had its “buy” rating reaffirmed by analysts at B. Riley. They now have a $35.00 price target on the stock.
  • 7/31/2017 – Imax Corporation was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 7/27/2017 – Imax Corporation had its “buy” rating reaffirmed by analysts at B. Riley. They now have a $35.00 price target on the stock.
  • 7/27/2017 – Imax Corporation had its “buy” rating reaffirmed by analysts at Wedbush.
  • 7/24/2017 – Imax Corporation was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
  • 7/21/2017 – Imax Corporation was given a new $35.00 price target on by analysts at Piper Jaffray Companies. They now have a “buy” rating on the stock.
  • 7/20/2017 – Imax Corporation had its “outperform” rating reaffirmed by analysts at Wedbush. They now have a $35.00 price target on the stock.
  • 7/12/2017 – Imax Corporation was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating.
  • 7/12/2017 – Imax Corporation was downgraded by analysts at Barrington Research from an “outperform” rating to a “market perform” rating.
  • 7/11/2017 – Imax Corporation was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Shares of IMAX have underperformed the Zacks categorized Movie/TV Production/Distribution industry on a year-to-date basis.  Furthermore, the disappointing Memorial Day weekend turnout has hurt the stock. In fact, IMAX  has had a disappointing run at the box office over the past few months. With the top line struggling, IMAX announced that it intends to trim its workforce by approximately 14%, in a bid to drive its bottom line and increase efficiencies.  With the IMAX stock struggling, the company’s board of directors cleared a shareholder friendly measure aimed at boosting investor confidence. The company's substantial presence outside the U.S. exposes it to foreign currency exchange rate risks. Despite the headwinds, we are impressed by the company's focus on China as the market offers significant commercial potential.”
  • 7/10/2017 – Imax Corporation had its “buy” rating reaffirmed by analysts at B. Riley. They now have a $43.50 price target on the stock.
  • 7/7/2017 – Imax Corporation had its price target lowered by analysts at MKM Partners from $40.00 to $30.00. They now have a “buy” rating on the stock.
  • 7/5/2017 – Imax Corporation had its “buy” rating reaffirmed by analysts at B. Riley. They now have a $43.50 price target on the stock.
  • 6/19/2017 – Imax Corporation was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Shares of IMAX have underperformed the Zacks categorized Movie/TV Production/Distribution industry on a year-to-date basis.  Furthermore, the disappointing Memorial Day weekend turnout has hurt the stock. In fact, IMAX  has had a disappointing run at the box office over the past few months. With the top line struggling, IMAX announced that it intends to trim its workforce by approximately 14%, in a bid to drive its bottom line and increase efficiencies.  With the IMAX stock struggling, the company’s board of directors cleared a shareholder friendly measure aimed at boosting investor confidence. The company's substantial presence outside the U.S. exposes it to foreign currency exchange rate risks. Despite the headwinds, we are impressed by the company's focus on China as the market offers significant commercial potential.”
  • 6/18/2017 – Imax Corporation had its “buy” rating reaffirmed by analysts at B. Riley. They now have a $43.50 price target on the stock.
  • 6/13/2017 – Imax Corporation was given a new $33.00 price target on by analysts at Roth Capital. They now have a “buy” rating on the stock.
  • 6/13/2017 – Imax Corporation had its “buy” rating reaffirmed by analysts at Piper Jaffray Companies.
  • 6/12/2017 – Imax Corporation had its “buy” rating reaffirmed by analysts at B. Riley. They now have a $43.50 price target on the stock.

Imax Corporation (NYSE:IMAX) traded down 3.87% during trading on Wednesday, reaching $19.85. The company’s stock had a trading volume of 709,886 shares. The company has a market cap of $1.28 billion, a price-to-earnings ratio of 134.12 and a beta of 0.90. The stock’s 50 day moving average is $22.06 and its 200 day moving average is $28.64. Imax Corporation has a 12 month low of $19.33 and a 12 month high of $35.30.

Imax Corporation (NYSE:IMAX) last posted its earnings results on Wednesday, July 26th. The company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $89.26 million. During the same period in the previous year, the firm posted $0.18 EPS. The business’s quarterly revenue was down 4.3% on a year-over-year basis. On average, equities analysts expect that Imax Corporation will post $0.62 EPS for the current fiscal year.

In other news, Director Eric A. Demirian sold 2,670 shares of the business’s stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $25.10, for a total value of $67,017.00. Following the sale, the director now directly owns 17,945 shares in the company, valued at approximately $450,419.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 18.90% of the company’s stock.

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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