A number of research firms have changed their ratings and price targets for Imax (NYSE: IMAX):

  • 1/5/2019 – Imax was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating.
  • 1/2/2019 – Imax was given a new $34.00 price target on by analysts at B. Riley. They now have a “buy” rating on the stock.
  • 12/31/2018 – Imax was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “strong-buy” rating. They now have a $21.00 price target on the stock. According to Zacks, “IMAX with Laser is gaining significant traction among users. The company’s focus to expand its laser presence by partnering with Wanying Cinema Line in China bodes well. Additionally, growing number of blockbuster movies and higher contribution from Greater China to box-office results are boosting the top line. Moreover, increasing focus on releasing Chinese content in smaller cities is expected to aid local box office revenues. We believe IMAX’s efforts to expand its presence across the globe will benefit it in the long run. Further, management is in talks with key streaming players including Netflix to create strategic collaborations, which is a positive. However, increasing losses from investments in new business does not bode well. Its shares have underperformed the industry on a year-to-date basis.”
  • 12/24/2018 – Imax was given a new $34.00 price target on by analysts at B. Riley. They now have a “buy imax” rating on the stock.
  • 12/7/2018 – Imax was given a new $34.00 price target on by analysts at B. Riley. They now have a “buy” rating on the stock.

Shares of IMAX opened at $19.50 on Friday. The stock has a market cap of $1.22 billion, a price-to-earnings ratio of 108.33, a price-to-earnings-growth ratio of 1.23 and a beta of 0.97. Imax Corp has a 12 month low of $17.55 and a 12 month high of $26.10.

Imax (NYSE:IMAX) last announced its quarterly earnings results on Thursday, October 25th. The company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.10. The firm had revenue of $82.11 million during the quarter, compared to analysts’ expectations of $80.26 million. Imax had a net margin of 6.64% and a return on equity of 6.87%. On average, equities analysts expect that Imax Corp will post 0.65 EPS for the current year.

In other news, insider Robert D. Lister sold 3,558 shares of Imax stock in a transaction that occurred on Monday, December 10th. The shares were sold at an average price of $18.28, for a total value of $65,040.24. Following the completion of the transaction, the insider now owns 36,247 shares in the company, valued at $662,595.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Greg Foster sold 3,567 shares of Imax stock in a transaction that occurred on Monday, December 10th. The shares were sold at an average price of $18.28, for a total transaction of $65,204.76. Following the completion of the transaction, the chief executive officer now owns 94,641 shares of the company’s stock, valued at approximately $1,730,037.48. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,862 shares of company stock valued at $143,755. Corporate insiders own 18.70% of the company’s stock.

Several large investors have recently bought and sold shares of IMAX. Macquarie Group Ltd. bought a new position in shares of Imax in the third quarter valued at approximately $113,000. Point72 Hong Kong Ltd raised its stake in shares of Imax by 185.5% in the third quarter. Point72 Hong Kong Ltd now owns 5,921 shares of the company’s stock valued at $153,000 after acquiring an additional 3,847 shares during the last quarter. Renaissance Technologies LLC bought a new position in shares of Imax in the second quarter valued at approximately $202,000. B. Riley Financial Inc. bought a new position in shares of Imax in the second quarter valued at approximately $242,000. Finally, AQR Capital Management LLC bought a new position in shares of Imax in the third quarter valued at approximately $278,000. Institutional investors own 76.52% of the company’s stock.

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, or 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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