IMAX has been the subject of several other research reports. Piper Jaffray Companies reaffirmed a buy rating and issued a $28.00 price objective on shares of Imax Corporation in a research report on Sunday, September 17th. Zacks Investment Research downgraded shares of Imax Corporation from a hold rating to a sell rating in a research report on Tuesday, July 11th. BidaskClub raised shares of Imax Corporation from a sell rating to a hold rating in a research report on Friday, September 22nd. J P Morgan Chase & Co reaffirmed a neutral rating and issued a $27.00 price objective on shares of Imax Corporation in a research report on Thursday, August 3rd. Finally, MKM Partners lowered their price objective on shares of Imax Corporation from $40.00 to $30.00 and set a buy rating for the company in a research report on Friday, July 7th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and an average target price of $32.00.
Imax Corporation (NYSE:IMAX) opened at 21.30 on Thursday. Imax Corporation has a 12-month low of $17.58 and a 12-month high of $35.30. The firm’s 50-day moving average is $21.56 and its 200 day moving average is $23.98. The firm has a market cap of $1.38 billion, a PE ratio of 143.92 and a beta of 1.00.
Imax Corporation (NYSE:IMAX) last issued its quarterly earnings data on Wednesday, July 26th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 company had revenue of $87.76 million during the quarter, compared to the consensus estimate of $89.26 million. During the same quarter last year, the company earned $0.18 earnings per share. Imax Corporation’s revenue for the quarter was down 4.3% on a year-over-year basis. Equities research analysts predict that Imax Corporation will post $0.57 EPS for the current year.
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In other Imax Corporation news, CFO Patrick Mcclymont sold 1,760 shares of Imax Corporation 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Greg Foster sold 9,417 shares of Imax Corporation 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 transaction, the chief executive officer now directly owns 67,018 shares of the company’s stock, valued at approximately $1,310,201.90. The disclosure for this sale can be found here. 18.90% of the stock is currently owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in the business. Franklin Resources Inc. boosted its holdings in Imax Corporation by 33.4% in the second quarter. Franklin Resources Inc. now owns 5,063,469 shares of the company’s stock worth $111,412,000 after purchasing an additional 1,266,939 shares during the period. TimesSquare Capital Management LLC acquired a new position in Imax Corporation in the second quarter worth $84,137,000. Alliancebernstein L.P. boosted its holdings in Imax Corporation by 2.3% in the second quarter. Alliancebernstein L.P. now owns 3,255,313 shares of the company’s stock worth $71,617,000 after purchasing an additional 73,675 shares during the period. BlackRock Inc. boosted its holdings in Imax Corporation by 54,861.2% in the first quarter. BlackRock Inc. now owns 2,607,357 shares of the company’s stock worth $88,651,000 after purchasing an additional 2,602,613 shares during the period. Finally, Stephens Investment Management Group LLC boosted its holdings in Imax Corporation by 31.9% in the second quarter. Stephens Investment Management Group LLC now owns 1,994,507 shares of the company’s stock worth $43,879,000 after purchasing an additional 482,151 shares during the period. 83.36% of the stock is owned by hedge funds and other institutional investors.
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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