Imax (NYSE:IMAX) has been assigned a $34.00 price objective by B. Riley in a research report issued to clients and investors on Friday, TipRanks reports. The firm presently has a “buy” rating on the stock. B. Riley’s price objective suggests a potential upside of 66.50% from the stock’s current price. B. Riley also issued estimates for Imax’s Q2 2019 earnings at $0.20 EPS, Q1 2020 earnings at $0.13 EPS and Q2 2020 earnings at $0.25 EPS.
A number of other analysts have also commented on IMAX. Wedbush set a $13.00 price objective on SLM and gave the stock a “buy” rating in a research report on Monday, April 22nd. TheStreet lowered ZovioInc . from a “c-” rating to a “d” rating in a research report on Thursday, May 23rd. MKM Partners lifted their price objective on Imax to $28.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. ValuEngine lowered Zumiez from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Finally, Zacks Investment Research lowered EXACT Sciences from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $27.17.
IMAX stock traded up $0.21 during midday trading on Friday, reaching $20.42. The stock had a trading volume of 260,951 shares, compared to its average volume of 353,121. The business’s fifty day moving average price is $20.51. The company has a market capitalization of $1.26 billion, a price-to-earnings ratio of 36.46, a price-to-earnings-growth ratio of 1.28 and a beta of 0.98. Imax has a twelve month low of $17.55 and a twelve month high of $26.10.
Imax (NYSE:IMAX) last announced its quarterly earnings data on Friday, April 26th. The company reported $0.12 EPS for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.01. The firm had revenue of $80.20 million during the quarter, compared to analyst estimates of $81.29 million. Imax had a return on equity of 6.31% and a net margin of 6.12%. The company’s revenue was down 5.6% on a year-over-year basis. During the same period last year, the company earned $0.21 earnings per share. Sell-side analysts expect that Imax will post 0.91 EPS for the current fiscal year.
In other news, Director Bradley J. Wechsler sold 12,000 shares of the business’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $23.02, for a total transaction of $276,240.00. Following the completion of the transaction, 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 Securities & Exchange Commission, which is available through this link. Also, SVP Kenneth Ian Weissman sold 4,077 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $24.90, for a total value of $101,517.30. Following the transaction, the senior vice president now owns 7,426 shares of the company’s stock, valued at $184,907.40. The disclosure for this sale can be found here. Insiders have sold a total of 65,975 shares of company stock valued at $1,529,542 over the last 90 days. Corporate insiders own 18.70% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Shapiro Capital Management LLC grew its position in shares of Imax by 6.9% in the 4th quarter. Shapiro Capital Management LLC now owns 5,150,005 shares of the company’s stock valued at $96,872,000 after purchasing an additional 330,598 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Imax by 5.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,719,609 shares of the company’s stock valued at $32,346,000 after purchasing an additional 85,783 shares during the period. Rice Hall James & Associates LLC grew its position in shares of Imax by 18.4% in the 1st quarter. Rice Hall James & Associates LLC now owns 966,896 shares of the company’s stock valued at $21,929,000 after purchasing an additional 149,971 shares during the period. Norges Bank acquired a new position in shares of Imax in the 4th quarter valued at approximately $18,169,000. Finally, Pembroke Management LTD grew its position in shares of Imax by 26.5% in the 1st quarter. Pembroke Management LTD now owns 803,000 shares of the company’s stock valued at $18,212,000 after purchasing an additional 168,350 shares during the period. Institutional investors own 77.61% of the company’s stock.
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.
Further Reading: Price-Sales Ratio
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