Imax Corp (NYSE:IMAX) Given Consensus Rating of “Buy” by Analysts

Shares of Imax Corp (NYSE:IMAX) have received a consensus rating of “Buy” from the eight analysts that are presently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $26.83.

Several research firms have weighed in on IMAX. TheStreet cut Imax from a “b-” rating to a “c” rating in a research report on Thursday, May 23rd. B. Riley set a $34.00 target price on Imax and gave the company a “buy” rating in a research note on Monday, May 20th. MKM Partners boosted their target price on Imax to $28.00 and gave the company a “buy” rating in a research note on Friday, April 12th. Wedbush set a $28.00 target price on Imax and gave the company a “buy” rating in a research note on Monday, April 22nd. Finally, Barrington Research restated a “buy” rating and issued a $27.00 target price on shares of Imax in a research note on Wednesday, March 6th.

In related news, Director Bradley J. Wechsler sold 12,000 shares of the business’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $23.02, for a total transaction of $276,240.00. Following the sale, the director now directly owns 125,667 shares in the company, valued at approximately $2,892,854.34. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Mark Welton sold 15,000 shares of the business’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $24.83, for a total value of $372,450.00. Following the sale, the insider now owns 20,670 shares in the company, valued at $513,236.10. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 65,975 shares of company stock worth $1,529,542. Corporate insiders own 18.70% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Penserra Capital Management LLC raised its stake in shares of Imax by 50.0% during the 1st quarter. Penserra Capital Management LLC now owns 2,376 shares of the company’s stock valued at $53,000 after purchasing an additional 792 shares during the period. NumerixS Investment Technologies Inc bought a new stake in shares of Imax during the 1st quarter valued at $218,000. Principal Financial Group Inc. raised its stake in shares of Imax by 29.8% during the 4th quarter. Principal Financial Group Inc. now owns 10,367 shares of the company’s stock valued at $195,000 after purchasing an additional 2,379 shares during the period. Mission Wealth Management LP bought a new stake in shares of Imax during the 1st quarter valued at $237,000. Finally, BNP Paribas Arbitrage SA raised its stake in shares of Imax by 50,668.2% during the 1st quarter. BNP Paribas Arbitrage SA now owns 11,169 shares of the company’s stock valued at $253,000 after purchasing an additional 11,147 shares during the period. Institutional investors own 77.61% of the company’s stock.

IMAX stock opened at $20.20 on Friday. The stock has a fifty day simple moving average of $21.37. Imax has a 1-year low of $17.55 and a 1-year high of $26.10. The stock has a market capitalization of $1.18 billion, a PE ratio of 36.07, a P/E/G ratio of 1.20 and a beta of 1.11.

Imax (NYSE:IMAX) last posted its quarterly earnings data on Friday, April 26th. The company reported $0.12 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.01. Imax had a return on equity of 6.31% and a net margin of 6.12%. The business had revenue of $80.20 million for the quarter, compared to analysts’ expectations of $81.29 million. During the same quarter in the previous year, the firm earned $0.21 earnings per share. The business’s revenue was down 5.6% on a year-over-year basis. As a group, equities analysts predict that Imax will post 0.91 earnings per share for the current year.

Imax Company Profile

IMAX Corporation, together with its subsidiaries, operates as an entertainment technology company that specializes in motion picture technologies and presentations worldwide. It offers cinematic solution comprising proprietary software, theater architecture, and equipment. The company engages in Digital Re-Mastering (DMR) of films into the IMAX format for exhibition in the IMAX theater network; the provision of IMAX premium theater systems to exhibitor customers through sales, long-term leases, and joint revenue sharing arrangements; the distribution of documentary films; the provision of production technical support and film post-production services; the ownership and operation of IMAX theaters; and the provision of camera and other miscellaneous items rental services.

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Analyst Recommendations for Imax (NYSE:IMAX)

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