Imax (NYSE:IMAX) has been assigned a $34.00 price objective by research analysts at B. Riley in a report issued on Tuesday, TipRanks reports. The brokerage presently has a “buy” rating on the stock. B. Riley’s target price points to a potential upside of 48.86% from the company’s current price. B. Riley also issued estimates for Imax’s Q3 2019 earnings at $0.10 EPS, Q1 2020 earnings at $0.15 EPS, Q2 2020 earnings at $0.19 EPS and Q3 2020 earnings at $0.15 EPS.

Other analysts have also issued research reports about the company. ValuEngine lowered Imax from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Wedbush reissued an “outperform” rating and issued a $28.00 target price on shares of Imax in a report on Wednesday, July 31st. Zacks Investment Research cut Imax from a “buy” rating to a “hold” rating and set a $23.00 target price on the stock. in a research report on Tuesday, July 2nd. Finally, TheStreet downgraded Imax from a “b-” rating to a “c” rating in a research note on Thursday, May 23rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. Imax currently has a consensus rating of “Hold” and an average price target of $27.17.

IMAX stock traded up $0.63 on Tuesday, hitting $22.84. The company had a trading volume of 261,900 shares, compared to its average volume of 382,274. Imax has a 12-month low of $17.55 and a 12-month high of $26.10. The stock’s 50-day simple moving average is $21.24 and its 200 day simple moving average is $22.03. The stock has a market cap of $1.36 billion, a price-to-earnings ratio of 40.79, a P/E/G ratio of 1.50 and a beta of 0.97.

Imax (NYSE:IMAX) last announced its earnings results on Tuesday, July 30th. The company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.10. The business 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 company’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.30 EPS. Analysts anticipate that Imax will post 0.84 earnings per share for the current year.

In related news, CEO Richard L. Gelfond sold 8,384 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $20.74, for a total transaction of $173,884.16. Following the completion of the transaction, the chief executive officer now directly owns 258,392 shares in the company, valued at approximately $5,359,050.08. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Patrick Mcclymont sold 1,915 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $21.35, for a total transaction of $40,885.25. Following the completion of the sale, the chief financial officer now directly owns 16,481 shares of the company’s stock, valued at $351,869.35. The disclosure for this sale can be found here. Company insiders own 20.20% of the company’s stock.

Large investors have recently modified their holdings of the business. Strs Ohio purchased a new stake in shares of Imax in the second quarter worth $595,000. Trillium Asset Management LLC boosted its holdings in Imax by 13.2% in the 2nd quarter. Trillium Asset Management LLC now owns 83,495 shares of the company’s stock worth $1,687,000 after buying an additional 9,704 shares during the period. William Blair Investment Management LLC increased its stake in Imax by 227.3% in the 2nd quarter. William Blair Investment Management LLC now owns 430,329 shares of the company’s stock worth $8,693,000 after buying an additional 298,834 shares in the last quarter. Mission Wealth Management LP purchased a new stake in Imax in the 1st quarter worth $237,000. Finally, Pembroke Management LTD raised its holdings in Imax by 17.3% during the second quarter. Pembroke Management LTD now owns 941,900 shares of the company’s stock valued at $19,026,000 after acquiring an additional 138,900 shares during the period. 77.55% of the stock is currently 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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