IMAX Co. (NYSE:IMAX) – Analysts at Dougherty & Co boosted their Q1 2018 earnings estimates for IMAX in a research note issued on Monday, April 16th. Dougherty & Co analyst S. Frankel now forecasts that the company will post earnings of $0.05 per share for the quarter, up from their previous forecast of $0.01.
Other analysts also recently issued reports about the stock. Piper Jaffray downgraded shares of IMAX from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $28.00 to $21.00 in a research report on Wednesday, January 10th. Wedbush set a $32.00 target price on shares of IMAX and gave the stock a “buy” rating in a research report on Monday, April 9th. ValuEngine downgraded shares of IMAX from a “hold” rating to a “sell” rating in a research report on Friday, February 2nd. JPMorgan Chase assumed coverage on shares of IMAX in a research report on Tuesday, February 20th. They issued an “overweight” rating and a $28.00 target price on the stock. Finally, Zacks Investment Research raised shares of IMAX from a “sell” rating to a “hold” rating in a research report on Tuesday, March 6th. Two analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company’s stock. IMAX has an average rating of “Hold” and an average target price of $28.63.
NYSE:IMAX opened at $22.50 on Thursday. The stock has a market capitalization of $1,440.83, a PE ratio of 67.27, a price-to-earnings-growth ratio of 1.98 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 issued its quarterly earnings data on Tuesday, February 27th. The company reported $0.22 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.06). The company had revenue of $125.55 million during the quarter, compared to the consensus estimate of $118.80 million. IMAX had a return on equity of 3.52% and a net margin of 0.62%.
In related news, CFO Patrick Mcclymont sold 2,811 shares of the stock in a transaction dated Thursday, March 8th. The shares were sold at an average price of $20.40, for a total transaction of $57,344.40. Following the sale, the chief financial officer now directly owns 2,145 shares of the company’s stock, valued at approximately $43,758. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Greg Foster sold 4,889 shares of the stock in a transaction dated Thursday, March 8th. The shares were sold at an average price of $20.40, for a total transaction of $99,735.60. Following the sale, the chief executive officer now directly owns 77,604 shares in the company, valued at $1,583,121.60. The disclosure for this sale can be found here. Insiders have sold a total of 24,131 shares of company stock worth $501,243 over the last three months. 18.90% of the stock is currently owned by insiders.
A number of hedge funds have recently made changes to their positions in IMAX. American International Group Inc. grew its position in IMAX by 8.1% during the 3rd quarter. American International Group Inc. now owns 38,684 shares of the company’s stock valued at $876,000 after purchasing an additional 2,892 shares during the last quarter. Legal & General Group Plc grew its position in IMAX by 25.8% during the 3rd quarter. Legal & General Group Plc now owns 26,561 shares of the company’s stock valued at $601,000 after purchasing an additional 5,452 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of IMAX by 2,410.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 149,543 shares of the company’s stock valued at $3,454,000 after acquiring an additional 143,587 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of IMAX by 15.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 785,422 shares of the company’s stock valued at $17,791,000 after acquiring an additional 103,401 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in shares of IMAX by 90.2% during the 3rd quarter. Janus Henderson Group PLC now owns 1,068,456 shares of the company’s stock valued at $24,201,000 after acquiring an additional 506,705 shares during the last quarter. 86.01% of the stock is currently owned by institutional investors.
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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, or 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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