Barrington Research reaffirmed their buy rating on shares of Imax (NYSE:IMAX) in a research report released on Tuesday, March 20th. They currently have a $30.00 target price on the stock.
“We feel the Hong Kong and PSA issues have largely run their course and management is being more selective in its capital investments. Further, we are encouraged by new opportunities in the core business line such as greater flexibility in screen usage (now primarily international but hopefully extending to domestic markets), reduced screening periods for individual films within a larger number of titles (with very few running more than a couple of weeks) and experimentation with reseating options. Attention to the cost structure is also important to profitability. These elements are contributing to our renewed confidence in this story.”,” Barrington Research’s analyst commented.
Several other analysts have also recently commented on IMAX. B. Riley reiterated a buy rating and issued a $35.00 target price on shares of Imax in a report on Monday, November 20th. Zacks Investment Research cut Imax from a buy rating to a hold rating in a report on Wednesday, December 27th. ValuEngine cut Imax from a hold rating to a sell rating in a report on Sunday, December 31st. Wedbush set a $30.00 target price on Imax and gave the stock a buy rating in a report on Monday, January 8th. Finally, Piper Jaffray cut Imax from an overweight rating to a neutral rating and cut their target price for the stock from $28.00 to $21.00 in a report on Wednesday, January 10th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company. Imax presently has an average rating of Hold and a consensus target price of $28.63.
IMAX stock traded down $0.10 during midday trading on Tuesday, reaching $21.60. The company had a trading volume of 325,664 shares, compared to its average volume of 982,094. The company has a market cap of $1,395.40, a PE ratio of 120.00, a price-to-earnings-growth ratio of 1.69 and a beta of 0.85. Imax has a 1-year low of $17.58 and a 1-year high of $33.50.
Imax (NYSE:IMAX) last released its quarterly earnings data on Tuesday, February 27th. The company reported $0.22 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.06). Imax had a net margin of 0.62% and a return on equity of 3.52%. The firm had revenue of $125.55 million during the quarter, compared to analyst estimates of $118.80 million. analysts anticipate that Imax will post 0.56 EPS for the current fiscal year.
In other news, insider Robert D. Lister sold 3,518 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $22.95, for a total transaction of $80,738.10. Following the completion of the sale, the insider now directly owns 38,540 shares of the company’s stock, valued at approximately $884,493. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Greg Foster sold 4,889 shares of the stock in a transaction on Thursday, March 8th. The stock was sold at an average price of $20.40, for a total value of $99,735.60. Following the transaction, the chief executive officer now owns 77,604 shares of the company’s stock, valued at approximately $1,583,121.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 24,131 shares of company stock valued at $501,243. Insiders own 18.90% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Crow Point Partners LLC bought a new position in Imax in the 4th quarter worth about $103,000. Invictus RG bought a new position in Imax in the 4th quarter worth about $213,000. Formula Growth Ltd. bought a new position in Imax in the 3rd quarter worth about $222,000. First Mercantile Trust Co. bought a new position in Imax in the 4th quarter worth about $231,000. Finally, Foundry Partners LLC bought a new position in Imax in the 4th quarter worth about $244,000. Institutional investors own 86.01% of the company’s stock.
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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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