Imax Corp (NYSE:IMAX) – Stock analysts at Dougherty & Co upped their FY2019 earnings estimates for shares of Imax in a research report issued to clients and investors on Monday, April 29th, according to Zacks Investment Research. Dougherty & Co analyst S. Frankel now anticipates that the company will earn $0.94 per share for the year, up from their previous estimate of $0.86. Dougherty & Co also issued estimates for Imax’s FY2020 earnings at $1.03 EPS.
Several other brokerages also recently commented on IMAX. Barrington Research reaffirmed a “buy” rating and set a $27.00 price objective on shares of Imax in a research report on Wednesday, March 6th. Wedbush reaffirmed an “outperform” rating and set a $28.00 price objective on shares of Imax in a research report on Friday, February 22nd. MKM Partners raised their price objective on shares of Imax to $28.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. B. Riley set a $34.00 target price on Imax and gave the stock a “buy” rating in a report on Friday, April 26th. Finally, TheStreet upgraded Imax from a “c” rating to a “b-” rating in a report on Friday, April 26th. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $26.83.
Shares of IMAX stock opened at $23.54 on Tuesday. The company has a market cap of $1.52 billion, a PE ratio of 42.04, a P/E/G ratio of 1.61 and a beta of 1.08. Imax has a 52 week low of $17.55 and a 52 week 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 consensus estimate of $0.11 by $0.01. The company had revenue of $80.20 million during the quarter, compared to the consensus estimate of $81.29 million. Imax had a net margin of 6.12% and a return on equity of 6.31%. The company’s quarterly revenue was down 5.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.21 EPS.
A number of large investors have recently modified their holdings of the business. Penserra Capital Management LLC lifted its stake in Imax by 50.0% during the 1st quarter. Penserra Capital Management LLC now owns 2,376 shares of the company’s stock valued at $53,000 after acquiring an additional 792 shares in the last quarter. Great West Life Assurance Co. Can lifted its stake in Imax by 45.0% during the 1st quarter. Great West Life Assurance Co. Can now owns 8,813 shares of the company’s stock valued at $199,000 after acquiring an additional 2,736 shares in the last quarter. Raymond James & Associates bought a new position in Imax during the 1st quarter valued at $203,000. Trillium Asset Management LLC lifted its stake in Imax by 12.9% during the 1st quarter. Trillium Asset Management LLC now owns 73,791 shares of the company’s stock valued at $1,674,000 after acquiring an additional 8,451 shares in the last quarter. Finally, California Public Employees Retirement System lifted its stake in Imax by 2.6% during the 1st quarter. California Public Employees Retirement System now owns 103,656 shares of the company’s stock valued at $2,351,000 after acquiring an additional 2,607 shares in the last quarter. Institutional investors and hedge funds own 79.80% of the company’s stock.
In other Imax news, VP Robert D. Lister sold 44,767 shares of the firm’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $22.36, for a total transaction of $1,000,990.12. Following the transaction, the vice president now directly owns 39,163 shares in the company, valued at approximately $875,684.68. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Robert D. Lister sold 59,767 shares of the firm’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $22.54, for a total value of $1,347,148.18. Following the transaction, the insider now owns 39,163 shares in the company, valued at $882,734.02. The disclosure for this sale can be found here. Over the last quarter, insiders sold 150,930 shares of company stock worth $3,452,599. 18.70% of the stock is owned by company insiders.
About Imax
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.