Imax Corp (NYSE:IMAX) – Investment analysts at B. Riley cut their Q3 2019 EPS estimates for shares of Imax in a research report issued on Wednesday, July 31st. B. Riley analyst E. Wold now anticipates that the company will earn $0.13 per share for the quarter, down from their prior estimate of $0.21. B. Riley currently has a “Buy” rating and a $34.00 price target on the stock. B. Riley also issued estimates for Imax’s FY2019 earnings at $0.79 EPS, Q1 2020 earnings at $0.14 EPS, Q2 2020 earnings at $0.22 EPS, Q3 2020 earnings at $0.17 EPS, Q4 2020 earnings at $0.34 EPS and FY2020 earnings at $0.86 EPS.
A number of other equities analysts have also weighed in on the stock. TheStreet lowered shares of Imax from a “b-” rating to a “c” rating in a research report on Thursday, May 23rd. ValuEngine lowered shares of Imax from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Wedbush reiterated an “outperform” rating and issued a $28.00 price target on shares of Imax in a research report on Wednesday, July 31st. MKM Partners upped their price target on shares of Imax to $28.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. Finally, Zacks Investment Research lowered shares of Imax from a “buy” rating to a “hold” rating and set a $23.00 price target for the company. in a research report on Tuesday, July 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. Imax presently has a consensus rating of “Hold” and an average price target of $27.17.
Shares of NYSE IMAX opened at $20.81 on Monday. The firm’s 50 day simple moving average is $20.46. The company has a market capitalization of $1.32 billion, a price-to-earnings ratio of 37.16, a price-to-earnings-growth ratio of 1.37 and a beta of 0.97. Imax has a 12-month low of $17.55 and a 12-month high of $26.10.
Imax (NYSE:IMAX) last announced its earnings results on Tuesday, July 30th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.10. The company 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 firm’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.30 earnings per share.
In other Imax news, Director Darren D. Throop sold 3,301 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $20.21, for a total value of $66,713.21. Following the completion of the transaction, the director now directly owns 8,341 shares in the company, valued at $168,571.61. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director David W. Leebron sold 14,949 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $22.19, for a total transaction of $331,718.31. Following the completion of the transaction, the director now owns 79,646 shares of the company’s stock, valued at $1,767,344.74. The disclosure for this sale can be found here. Over the last quarter, insiders sold 38,250 shares of company stock valued at $843,872. Company insiders own 20.20% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its holdings in shares of Imax by 29.8% in the fourth quarter. Principal Financial Group Inc. now owns 10,367 shares of the company’s stock worth $195,000 after buying an additional 2,379 shares in the last quarter. Norges Bank purchased a new position in shares of Imax in the fourth quarter worth $18,169,000. Pembroke Management LTD lifted its holdings in shares of Imax by 26.5% in the first quarter. Pembroke Management LTD now owns 803,000 shares of the company’s stock worth $18,212,000 after buying an additional 168,350 shares in the last quarter. Metropolitan Life Insurance Co. NY lifted its holdings in shares of Imax by 335.3% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 16,050 shares of the company’s stock worth $302,000 after buying an additional 12,363 shares in the last quarter. Finally, Legal & General Group Plc lifted its holdings in shares of Imax by 7.5% in the fourth quarter. Legal & General Group Plc now owns 21,880 shares of the company’s stock worth $411,000 after buying an additional 1,531 shares in the last quarter. 74.98% of the stock is currently owned by hedge funds and other institutional investors.
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.