B. Riley reiterated their buy rating on shares of Imax (NYSE:IMAX) in a research report sent to investors on Wednesday morning, TipRanks reports. They currently have a $18.00 price target on the stock.
IMAX has been the topic of several other research reports. Barrington Research reiterated an outperform rating on shares of Imax in a report on Monday, July 20th. ValuEngine upgraded Imax from a hold rating to a buy rating in a report on Friday, April 17th. Benchmark upgraded Imax from a hold rating to a buy rating and set a $14.00 price objective on the stock in a report on Tuesday, April 28th. Goldman Sachs Group began coverage on Imax in a report on Wednesday, July 15th. They issued a buy rating and a $14.00 price objective on the stock. Finally, Canaccord Genuity restated a buy rating and set a $16.00 price target on shares of Imax in a report on Friday, May 1st. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company. The company currently has a consensus rating of Hold and a consensus price target of $15.06.
NYSE:IMAX opened at $11.29 on Wednesday. The company has a market capitalization of $664.53 million, a P/E ratio of -13.77 and a beta of 1.51. Imax has a 52 week low of $6.01 and a 52 week high of $22.88. The stock’s fifty day moving average is $11.95 and its two-hundred day moving average is $13.28.
Imax (NYSE:IMAX) last posted its quarterly earnings data on Tuesday, July 28th. The company reported ($0.44) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.52) by $0.08. The firm had revenue of $8.90 million for the quarter, compared to the consensus estimate of $9.22 million. Imax had a negative return on equity of 6.88% and a negative net margin of 18.91%. The company’s quarterly revenue was down 91.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.32 EPS. Equities analysts expect that Imax will post -1.48 EPS for the current year.
Several large investors have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its position in shares of Imax by 14.7% during the 1st quarter. BlackRock Inc. now owns 3,237,220 shares of the company’s stock worth $29,294,000 after acquiring an additional 413,885 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Imax by 18.9% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,039,997 shares of the company’s stock worth $18,462,000 after acquiring an additional 324,364 shares in the last quarter. Pembroke Management LTD boosted its position in shares of Imax by 10.6% during the 1st quarter. Pembroke Management LTD now owns 1,199,760 shares of the company’s stock worth $10,858,000 after acquiring an additional 115,038 shares in the last quarter. Deutsche Bank AG boosted its position in shares of Imax by 1,320.5% during the 1st quarter. Deutsche Bank AG now owns 1,182,450 shares of the company’s stock worth $10,701,000 after acquiring an additional 1,099,211 shares in the last quarter. Finally, State Street Corp boosted its position in shares of Imax by 0.3% in the 1st quarter. State Street Corp now owns 1,070,867 shares of the company’s stock valued at $9,691,000 after purchasing an additional 3,563 shares during the period. 73.58% of the stock is owned by institutional investors and hedge funds.
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.
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