Goldman Sachs Group Inc. lowered shares of Imax Corporation (NASDAQ:IMAX) from a buy rating to a neutral rating in a report released on Tuesday, TheFlyOnTheWall.com reports. Goldman Sachs Group Inc. currently has $30.00 price objective on the stock, up from their previous price objective of $29.96.
Goldman Sachs Group Inc. has also taken action a number of other consumer goods stocks recently. The firm upgraded shares of AngloGold Ashanti from a sell rating to a neutral rating. Also, Goldman Sachs Group Inc. downgraded shares of AGL Resources to a sell rating. Finally, Goldman Sachs Group Inc. reiterated its conviction sell rating on shares of Rio Tinto.
Imax Corporation (NASDAQ:IMAX) traded down 0.86% on Tuesday, hitting $28.69. 149,959 shares of the company’s stock traded hands. Imax Corporation has a 52-week low of $20.49 and a 52-week high of $31.23. The stock has a 50-day moving average of $29.21 and a 200-day moving average of $27.3. The company has a market cap of $1.937 billion and a P/E ratio of 67.46.
Imax Corporation (NASDAQ:IMAX) last released its earnings data on Thursday, October 24th. The company reported $0.06 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.06. The company had revenue of $51.70 million for the quarter, compared to the consensus estimate of $52.60 million. During the same quarter in the previous year, the company posted $0.26 earnings per share. The company’s revenue for the quarter was down 35.9% on a year-over-year basis. On average, analysts predict that Imax Corporation will post $0.68 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at MKM Partners raised their price target on shares of Imax Corporation from $32.00 to $34.00 in a research note to investors on Tuesday, November 19th. They now have a buy rating on the stock. Separately, analysts at Sterne Agee reiterated a hold rating on shares of Imax Corporation in a research note to investors on Monday, October 21st. They now have a $27.00 price target on the stock. Finally, analysts at Benchmark Co. raised their price target on shares of Imax Corporation from $29.42 to $29.45 in a research note to investors on Monday, October 21st. They now have a hold rating on the stock. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. Imax Corporation presently has an average rating of Hold and a consensus price target of $29.72.
IMAX Corporation, together with its wholly owned subsidiaries, is an entertainment technology companies, specializing in motion picture technologies and presentations.
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