Imax Corporation (IMAX) Earns News Impact Rating of 0.13
Media stories about Imax Corporation (NYSE:IMAX) have been trending somewhat positive recently, Accern Sentiment reports. Accern ranks the sentiment of press coverage by reviewing more than 20 million news and blog sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores nearest to one being the most favorable. Imax Corporation earned a news sentiment score of 0.13 on Accern’s scale. Accern also assigned news coverage about the company an impact score of 44.7905660443617 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the next several days.
Here are some of the media stories that may have impacted Accern Sentiment’s rankings:
- Imax Corporation (NYSE:IMAX) Reaches New 12-Month Low on Insider Selling (elcumanes.com)
- The Imax Corporation (NYSE:IMAX) Upgraded to Sell by BidaskClub (campdesrecrues.com)
- See what the IHS Markit Score report has to say about Imax Corp. (finance.yahoo.com)
- Imax Corporation (IMAX) Reached a 52-Week High – Modern Readers (modernreaders.com)
- Imax Corporation (NYSE:IMAX) Sees Unusual Trading Volume in Its Shares – Modern Readers (modernreaders.com)
Shares of Imax Corporation (NYSE IMAX) opened at 19.00 on Friday. The firm has a market cap of $1.23 billion, a P/E ratio of 128.38 and a beta of 0.90. The firm’s 50-day moving average price is $21.42 and its 200 day moving average price is $28.21. Imax Corporation has a 12-month low of $18.90 and a 12-month high of $35.30.
Imax Corporation (NYSE:IMAX) last announced its earnings results on Wednesday, July 26th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.17. Imax Corporation had a return on equity of 2.39% and a net margin of 2.81%. The business had revenue of $87.76 million for the quarter, compared to analyst estimates of $89.26 million. During the same quarter last year, the firm earned $0.18 EPS. Imax Corporation’s revenue for the quarter was down 4.3% compared to the same quarter last year. On average, equities analysts expect that Imax Corporation will post $0.62 earnings per share for the current fiscal year.
Imax Corporation announced that its Board of Directors has initiated a share buyback plan on Monday, June 12th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 12.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.
IMAX has been the topic of several research reports. B. Riley reiterated a “buy” rating and issued a $35.00 price target on shares of Imax Corporation in a research report on Tuesday, August 1st. BidaskClub cut shares of Imax Corporation from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Canaccord Genuity set a $33.00 price target on shares of Imax Corporation and gave the stock a “buy” rating in a research report on Thursday, June 8th. Zacks Investment Research upgraded shares of Imax Corporation from a “sell” rating to a “hold” rating in a research report on Monday, June 19th. Finally, Roth Capital set a $37.00 price target on shares of Imax Corporation and gave the stock a “buy” rating in a research report on Thursday, April 20th. Two analysts have rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $34.82.
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In related news, CFO Patrick Mcclymont sold 1,760 shares of Imax Corporation stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $20.50, for a total value of $36,080.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Eric A. Demirian sold 2,670 shares of Imax Corporation stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $25.10, for a total value of $67,017.00. Following the completion of the sale, the director now directly owns 17,945 shares in the company, valued at approximately $450,419.50. The disclosure for this sale can be found here. 18.90% of the stock is currently owned by company insiders.
About Imax Corporation
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.
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