J P Morgan Chase & Co restated their neutral rating on shares of Imax Corporation (NYSE:IMAX) in a research note issued to investors on Thursday morning. They currently have a $27.00 target price on the stock.

A number of other equities research analysts have also recently commented on IMAX. Canaccord Genuity reiterated a buy rating and set a $39.00 price target on shares of Imax Corporation in a report on Monday, April 10th. B. Riley reiterated a buy rating and set a $46.00 price target on shares of Imax Corporation in a report on Monday, April 17th. Wedbush cut their price target on shares of Imax Corporation from $41.50 to $39.00 and set an outperform rating on the stock in a report on Friday, April 21st. Roth Capital set a $37.00 price target on shares of Imax Corporation and gave the company a buy rating in a report on Thursday, April 20th. Finally, MKM Partners reiterated a buy rating and set a $40.00 price target on shares of Imax Corporation in a report on Tuesday, April 25th. Two investment analysts have rated the stock with a sell rating, five have given 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.

Shares of Imax Corporation (NYSE:IMAX) traded down 0.611% during trading on Thursday, hitting $20.325. The stock had a trading volume of 57,084 shares. Imax Corporation has a 52-week low of $19.33 and a 52-week high of $35.30. The stock has a 50 day moving average of $22.47 and a 200 day moving average of $28.82. The firm has a market cap of $1.32 billion, a PE ratio of 137.331 and a beta of 0.90.

Imax Corporation (NYSE:IMAX) last posted its quarterly earnings results on Wednesday, July 26th. The company reported $0.15 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.17. 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 for the quarter, compared to analysts’ expectations of $89.26 million. During the same quarter in the prior year, the company posted $0.18 earnings per share. The business’s revenue for the quarter was down 4.3% on a year-over-year basis. On average, equities analysts anticipate that Imax Corporation will post $0.63 EPS for the current year.

WARNING: This story was originally reported by Daily Political and is owned by of Daily Political. If you are viewing this story on another website, it was stolen and republished in violation of United States & international copyright and trademark law. The legal version of this story can be read at https://www.dailypolitical.com/2017/08/07/imax-corporations-nyseimax-neutral-rating-reiterated-at-j-p-morgan-chase-co.html.

Imax Corporation announced that its Board of Directors has initiated a stock buyback program on Monday, June 12th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 12.5% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

In other news, Director Eric A. Demirian sold 2,670 shares of Imax Corporation stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $25.10, for a total transaction of $67,017.00. Following the transaction, the director now owns 17,945 shares in the company, valued at approximately $450,419.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 18.90% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of IMAX. Ameritas Investment Partners Inc. acquired a new position in shares of Imax Corporation during the first quarter valued at $173,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Imax Corporation by 78.9% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,774 shares of the company’s stock valued at $156,000 after buying an additional 2,546 shares in the last quarter. Comerica Bank acquired a new position in shares of Imax Corporation during the fourth quarter valued at $205,000. BNP Paribas Arbitrage SA boosted its position in shares of Imax Corporation by 1,151.0% in the second quarter. BNP Paribas Arbitrage SA now owns 6,818 shares of the company’s stock valued at $150,000 after buying an additional 6,273 shares in the last quarter. Finally, Aperio Group LLC acquired a new position in shares of Imax Corporation during the second quarter valued at $205,000. Institutional investors and hedge funds own 89.54% of the company’s stock.

Imax Corporation Company Profile

IMAX Corporation 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, manufactures, sells or leases IMAX theater projection system equipment.

Analyst Recommendations for Imax Corporation (NYSE:IMAX)

Receive News & Ratings for Imax Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Imax Corporation and related companies with MarketBeat.com's FREE daily email newsletter.