Imax Corp (NYSE:IMAX) – Equities research analysts at Barrington Research increased their Q1 2019 EPS estimates for shares of Imax in a report released on Tuesday, April 16th. Barrington Research analyst J. Goss now forecasts that the company will post earnings of $0.07 per share for the quarter, up from their previous estimate of $0.02. Barrington Research currently has a “Buy” rating and a $27.00 target price on the stock. Barrington Research also issued estimates for Imax’s Q4 2019 earnings at $0.35 EPS and FY2019 earnings at $0.79 EPS.
Other equities analysts have also issued reports about the company. Wedbush reaffirmed an “outperform” rating on shares of Imax in a research note on Wednesday, January 30th. ValuEngine raised Imax from a “sell” rating to a “hold” rating in a research note on Saturday, January 5th. B. Riley set a $34.00 price objective on Imax and gave the stock a “buy” rating in a research note on Wednesday, January 2nd. MKM Partners lifted their price objective on Imax to $28.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. Finally, Canaccord Genuity lowered Imax from a “buy” rating to a “hold” rating and set a $23.00 price objective on the stock. in a research note on Monday, February 25th. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $27.00.
NYSE:IMAX opened at $25.33 on Friday. The stock has a market cap of $1.56 billion, a PE ratio of 45.23, a PEG ratio of 1.59 and a beta of 1.06. Imax has a 1-year low of $17.55 and a 1-year high of $26.10.
Imax (NYSE:IMAX) last released its quarterly earnings results on Tuesday, February 26th. The company reported $0.18 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.01. The company had revenue of $109.00 million for the quarter, compared to analysts’ expectations of $101.42 million. Imax had a return on equity of 6.44% and a net margin of 6.10%. The business’s quarterly revenue was down 13.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.34 earnings per share.
Institutional investors and hedge funds have recently modified their holdings of the business. Macquarie Group Ltd. acquired a new position in Imax in the third quarter valued at approximately $113,000. Principal Financial Group Inc. lifted its stake in Imax by 29.8% in the fourth quarter. Principal Financial Group Inc. now owns 10,367 shares of the company’s stock valued at $195,000 after buying an additional 2,379 shares during the period. AQR Capital Management LLC acquired a new position in Imax in the third quarter valued at approximately $278,000. Stone Ridge Asset Management LLC acquired a new position in Imax in the fourth quarter valued at approximately $218,000. Finally, Voce Capital Management LLC acquired a new position in Imax in the fourth quarter valued at approximately $280,000. 79.36% of the stock is currently owned by hedge funds and other institutional investors.
In related news, insider Robert D. Lister sold 59,767 shares of Imax stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $22.54, for a total value of $1,347,148.18. Following the transaction, the insider now directly owns 39,163 shares of the company’s stock, valued at $882,734.02. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Robert D. Lister sold 44,767 shares of Imax stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $22.36, for a total value of $1,000,990.12. Following the completion of the transaction, the vice president now directly owns 39,163 shares in the company, valued at $875,684.68. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 123,205 shares of company stock worth $2,766,929. 18.70% of the stock is owned by insiders.
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.
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