Imax (NYSE:IMAX) has been given a $23.00 price objective by investment analysts at Goldman Sachs Group in a research note issued to investors on Tuesday, TipRanks reports. The firm currently has a “hold” rating on the stock. Goldman Sachs Group’s target price suggests a potential upside of 9.00% from the company’s current price.
Other equities research analysts have also issued reports about the stock. ValuEngine upgraded shares of Imax from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. B. Riley set a $34.00 target price on shares of Imax and gave the company a “buy” rating in a research note on Tuesday, September 10th. Wedbush reiterated an “outperform” rating and set a $28.00 target price on shares of Imax in a research note on Wednesday, July 31st. Finally, Zacks Investment Research lowered shares of Imax from a “hold” rating to a “sell” rating and set a $23.00 target price for the company. in a research note on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. Imax has an average rating of “Hold” and a consensus target price of $26.57.
IMAX traded up $0.64 during mid-day trading on Tuesday, reaching $21.10. 106,890 shares of the company traded hands, compared to its average volume of 277,489. The stock has a market capitalization of $1.27 billion, a P/E ratio of 37.68, a P/E/G ratio of 1.41 and a beta of 0.98. The company’s fifty day moving average price is $21.56 and its 200-day moving average price is $21.85. Imax has a 52-week low of $17.55 and a 52-week high of $25.75.
Imax (NYSE:IMAX) last announced its earnings results on Tuesday, July 30th. The company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.10. The business had revenue of $104.80 million during the quarter, compared to analyst estimates of $98.27 million. Imax had a net margin of 7.01% and a return on equity of 6.32%. The company’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.30 EPS. On average, research analysts forecast that Imax will post 0.84 earnings per share for the current year.
In other news, CEO Richard L. Gelfond sold 8,384 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $20.74, for a total value of $173,884.16. Following the completion of the sale, the chief executive officer now directly owns 258,392 shares in the company, valued at approximately $5,359,050.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Patrick Mcclymont sold 1,915 shares of the company’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $21.35, for a total value of $40,885.25. Following the completion of the sale, the chief financial officer now owns 16,481 shares of the company’s stock, valued at $351,869.35. The disclosure for this sale can be found here. Corporate insiders own 20.20% of the company’s stock.
Large investors have recently bought and sold shares of the company. Larson Financial Group LLC purchased a new stake in Imax in the 3rd quarter worth $25,000. Glassman Wealth Services purchased a new stake in Imax in the 2nd quarter worth $34,000. US Bancorp DE purchased a new stake in Imax in the 2nd quarter worth $34,000. Aperio Group LLC bought a new position in shares of Imax during the 2nd quarter valued at about $35,000. Finally, Bessemer Group Inc. bought a new position in shares of Imax during the 2nd quarter valued at about $61,000. Hedge funds and other institutional investors own 77.56% 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.
Featured Article: Benefits of owning preferred stock
Receive News & Ratings for Imax Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Imax and related companies with MarketBeat.com's FREE daily email newsletter.