Imax Corp (NYSE:IMAX) – Stock analysts at B. Riley decreased their Q4 2017 earnings estimates for shares of Imax in a research report issued to clients and investors on Monday, Zacks Investment Research reports. B. Riley analyst E. Wold now forecasts that the company will post earnings of $0.27 per share for the quarter, down from their prior estimate of $0.33. B. Riley has a “Buy” rating and a $35.00 price objective on the stock. B. Riley also issued estimates for Imax’s Q1 2018 earnings at $0.05 EPS, Q2 2018 earnings at $0.27 EPS, FY2018 earnings at $0.86 EPS, Q2 2019 earnings at $0.33 EPS, Q3 2019 earnings at $0.33 EPS and FY2019 earnings at $1.05 EPS.
Other research analysts have also recently issued research reports about the stock. Canaccord Genuity set a $32.00 price target on shares of Imax and gave the stock a “buy” rating in a research note on Monday, October 23rd. Wedbush set a $29.00 price target on shares of Imax and gave the stock a “buy” rating in a research note on Thursday, October 19th. Zacks Investment Research cut shares of Imax from a “buy” rating to a “hold” rating in a research note on Wednesday, December 27th. BidaskClub upgraded shares of Imax from a “sell” rating to a “hold” rating in a research note on Friday, September 22nd. Finally, Credit Suisse Group dropped their price target on shares of Imax from $26.00 to $25.00 and set a “neutral” rating on the stock in a research note on Thursday, September 28th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $29.30.
Shares of Imax (NYSE:IMAX) traded down $0.25 during mid-day trading on Tuesday, reaching $20.45. 445,900 shares of the company traded hands, compared to its average volume of 1,088,445. The stock has a market capitalization of $1,320.00, a PE ratio of 204.50, a P/E/G ratio of 1.21 and a beta of 1.13. Imax has a 52 week low of $17.58 and a 52 week high of $34.60.
Imax (NYSE:IMAX) last issued its earnings results on Thursday, October 26th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.07. Imax had a net margin of 1.78% and a return on equity of 2.62%. The company had revenue of $98.80 million for the quarter, compared to analysts’ expectations of $86.17 million. During the same quarter last year, the company posted $0.12 earnings per share. The firm’s quarterly revenue was up 14.2% on a year-over-year basis.
A number of hedge funds and other institutional investors have recently made changes to their positions in IMAX. Franklin Resources Inc. increased its holdings in Imax by 33.4% in the 2nd quarter. Franklin Resources Inc. now owns 5,063,469 shares of the company’s stock valued at $111,412,000 after acquiring an additional 1,266,939 shares during the last quarter. Becker Capital Management Inc. increased its holdings in Imax by 229.6% in the 3rd quarter. Becker Capital Management Inc. now owns 979,755 shares of the company’s stock valued at $22,191,000 after acquiring an additional 682,485 shares during the last quarter. Light Street Capital Management LLC increased its holdings in Imax by 69.7% in the 2nd quarter. Light Street Capital Management LLC now owns 1,400,000 shares of the company’s stock valued at $30,800,000 after acquiring an additional 575,000 shares during the last quarter. Janus Henderson Group PLC bought a new stake in Imax in the 2nd quarter valued at $12,359,000. Finally, Stephens Investment Management Group LLC increased its holdings in Imax by 31.9% in the 2nd quarter. Stephens Investment Management Group LLC now owns 1,994,507 shares of the company’s stock valued at $43,879,000 after acquiring an additional 482,151 shares during the last quarter. Institutional investors own 84.04% of the company’s stock.
In other news, insider Mark Welton sold 8,985 shares of the firm’s stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $25.81, for a total transaction of $231,902.85. Following the sale, the insider now directly owns 16,331 shares in the company, valued at approximately $421,503.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Robert D. Lister sold 3,528 shares of the firm’s stock in a transaction on Monday, December 11th. The shares were sold at an average price of $23.97, for a total transaction of $84,566.16. Following the sale, the insider now owns 35,594 shares in the company, valued at $853,188.18. The disclosure for this sale can be found here. Insiders have sold a total of 17,050 shares of company stock worth $425,276 over the last 90 days. Insiders own 18.90% of the company’s stock.
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Imax Company Profile
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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