IMAX has been the subject of a number of recent analyst reports.
Other large investors have also bought and sold shares of the company. Laurion Capital Management LP purchased a new stake in Imax Corporation during the first quarter worth approximately $326,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Imax Corporation by 78.9% in the first quarter. The stock had a trading volume of 955,022 shares. The Stephens Investment Management Group Llc holds 1.68M shares with $52.67 million value, up from 1.47 million last quarter. Finally, B. Riley Financial Inc. raised its stake in Imax Corporation by 81.1% in the first quarter. Alliancebernstein L.P. now owns 3,255,313 shares of the company's stock worth $71,617,000 after buying an additional 73,675 shares in the last quarter. KS now owns 322,710 shares of the company's stock worth $10,972,000 after buying an additional 1,895 shares during the last quarter.
Shares of Imax Corporation (NYSE IMAX) opened at 19.00 on Friday. The stock is trading at $19.27 a great deal lower than $21.54, the 50 day moving average and well below the 200 day moving average of $28.31.
Imax Corporation now has a P/E ratio of 128.38 and market cap is 1.23B.
Imax Corporation (NYSE:IMAX) last posted its quarterly earnings results on Wednesday, July 26th. As of the last earnings report the EPS was $0.15 and is projected to be $0.62 for the current year with 64,722,000 shares now outstanding. Imax Corporation had a net margin of 2.81% and a return on equity of 2.39%. The firm had revenue of $87.76 million during the quarter, compared to analysts' expectations of $89.26 million. During the same quarter in the prior year, the company earned $0.18 EPS. The business's quarterly revenue was down 4.3% compared to the same quarter past year. This repurchase authorization permits the company to buy up to 12.5% of its shares through open market purchases.
WARNING: "Imax Corporation (NYSE:IMAX) Stake Cut by Legal & General Group Plc" was first posted by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are accessing this piece on another site, it was stolen and republished in violation of US & global trademark and copyright law. The original version of this piece can be accessed at https://www.themarketsdaily.com/2017/08/12/imax-corporation-nyseimax-stake-increased-by-rice-hall-james-associates-llc.html.
Several analysts have commented on the company. MKM Partners restated a "buy" rating and issued a $40.00 target price on shares of Imax Corporation in a research note on Tuesday, April 25th.
Tower Research Capital LLC (trc) added to its stake by buying 226 shares an increase of 243.0%. Roth Capital set a $37.00 target price on shares of Imax Corporation and gave the stock a "buy" rating in a report on Thursday, April 20th. Zacks Investment Research upgraded Imax Corporation from a "sell" rating to a "hold" rating in a research report on Monday, June 19th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the company. The company has a consensus rating of "Hold" and a consensus target price of $34.82. Also, CFO Patrick Mcclymont sold 1,760 shares of the firm's stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $20.50, for a total value of $36,080.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The stock was sold at an average price of $25.10, for a total transaction of $67,017.00. Stock repurchase programs are generally an indication that the company's board of directors believes its stock is undervalued.
IMAX Corporation, launched on January 1, 2002, is an entertainment technology company. The Company operates through seven segments: IMAX systems; theater system maintenance; joint revenue sharing arrangements; film production and IMAX DMR; film distribution; film post-production, and other. The IMAX systems segment designs, makes, sells or leases IMAX theater projection system equipment.
Here are some other firms who have updated their holdings.