Imax (NYSE:IMAX) Earns Buy Rating from Wedbush

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Wedbush restated their buy rating on shares of Imax (NYSE:IMAX) in a report released on Tuesday, AnalystRatings.com reports. They currently have a $28.00 price target on the stock. Wedbush also issued estimates for Imax’s Q2 2019 earnings at $0.22 EPS, Q4 2019 earnings at $0.33 EPS, FY2019 earnings at $0.84 EPS, Q1 2020 earnings at $0.17 EPS, Q2 2020 earnings at $0.27 EPS, Q4 2020 earnings at $0.30 EPS and FY2020 earnings at $0.88 EPS.

Other analysts have also issued research reports about the company. Zacks Investment Research lowered EXACT Sciences from a hold rating to a sell rating in a report on Tuesday, July 2nd. MKM Partners lifted their price objective on Imax to $28.00 and gave the stock a buy rating in a report on Friday, April 12th. B. Riley set a $18.00 price objective on TiVo and gave the stock a buy rating in a report on Friday, July 12th. TheStreet lowered ZovioInc . from a c- rating to a d rating in a report on Thursday, May 23rd. Finally, ValuEngine lowered Zumiez from a hold rating to a sell rating in a report on Tuesday, July 2nd. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. Imax presently has a consensus rating of Hold and a consensus target price of $27.17.

Shares of IMAX opened at $19.94 on Tuesday. Imax has a one year low of $17.55 and a one year high of $26.10. The company has a market capitalization of $1.24 billion, a price-to-earnings ratio of 35.61, a P/E/G ratio of 1.29 and a beta of 0.98. The business has a fifty day moving average price of $20.30.

Imax (NYSE:IMAX) last issued its quarterly earnings data on Friday, April 26th. The company reported $0.12 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.01. Imax had a return on equity of 6.31% and a net margin of 6.12%. The company had revenue of $80.20 million during the quarter, compared to analyst estimates of $81.29 million. During the same quarter in the previous year, the company posted $0.21 earnings per share. Imax’s revenue was down 5.6% compared to the same quarter last year. As a group, research analysts forecast that Imax will post 0.9 EPS for the current year.

In other Imax news, CEO Richard L. Gelfond sold 8,648 shares of the business’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $24.48, for a total transaction of $211,703.04. Following the completion of the sale, the chief executive officer now owns 245,279 shares of the company’s stock, valued at $6,004,429.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mark Welton sold 15,000 shares of the business’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $24.83, for a total value of $372,450.00. Following the sale, the insider now directly owns 20,670 shares of the company’s stock, valued at approximately $513,236.10. The disclosure for this sale can be found here. Insiders have sold 65,975 shares of company stock valued at $1,529,542 in the last three months. 18.70% of the stock is currently owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in the business. First Trust Advisors LP raised its stake in shares of Imax by 73.0% during the 1st quarter. First Trust Advisors LP now owns 38,383 shares of the company’s stock valued at $871,000 after buying an additional 16,201 shares during the last quarter. Nordea Investment Management AB raised its stake in shares of Imax by 1.2% during the 1st quarter. Nordea Investment Management AB now owns 222,078 shares of the company’s stock valued at $5,036,000 after buying an additional 2,633 shares during the last quarter. Mission Wealth Management LP purchased a new position in shares of Imax during the 1st quarter valued at about $237,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Imax during the 1st quarter valued at about $489,000. Finally, William Blair Investment Management LLC purchased a new position in shares of Imax during the 1st quarter valued at about $2,982,000. 77.61% of the stock is owned by institutional investors and hedge funds.

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.

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Analyst Recommendations for Imax (NYSE:IMAX)

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