Imax’s (IMAX) Buy Rating Reaffirmed at Barrington Research

Barrington Research restated their buy rating on shares of Imax (NYSE:IMAX) in a research report released on Wednesday, AnalystRatings.com reports. They currently have a $15.00 price target on the stock.

A number of other analysts have also recently commented on the stock. MKM Partners cut their price target on shares of Imax from $20.00 to $18.00 and set a buy rating on the stock in a research report on Monday, July 13th. TheStreet cut shares of Imax from a c rating to a d rating in a research report on Friday, May 1st. reaffirmed a sell rating on shares of Imax in a research report on Tuesday, June 9th. Goldman Sachs Group began coverage on shares of Imax in a research report on Wednesday, July 15th. They set a buy rating and a $14.00 price target on the stock. Finally, Canaccord Genuity reiterated a buy rating and set a $14.50 price objective (down previously from $16.00) on shares of Imax in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $15.06.

Shares of Imax stock opened at $11.29 on Wednesday. The stock has a market cap of $664.50 million, a price-to-earnings ratio of -13.77 and a beta of 1.51. The company’s fifty day moving average is $11.95 and its 200 day moving average is $13.28. Imax has a twelve month low of $6.01 and a twelve month high of $22.88.

Imax (NYSE:IMAX) last issued its quarterly earnings results on Tuesday, July 28th. The company reported ($0.44) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.52) by $0.08. The business had revenue of $8.90 million for the quarter, compared to analysts’ expectations of $9.22 million. Imax had a negative net margin of 18.91% and a negative return on equity of 6.88%. The business’s quarterly revenue was down 91.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.32 earnings per share. As a group, equities research analysts anticipate that Imax will post -1.48 EPS for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. raised its holdings in shares of Imax by 14.7% in the 1st quarter. BlackRock Inc. now owns 3,237,220 shares of the company’s stock worth $29,294,000 after acquiring an additional 413,885 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Imax by 18.9% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,039,997 shares of the company’s stock worth $18,462,000 after acquiring an additional 324,364 shares during the last quarter. Pembroke Management LTD raised its holdings in shares of Imax by 10.6% in the 1st quarter. Pembroke Management LTD now owns 1,199,760 shares of the company’s stock worth $10,858,000 after acquiring an additional 115,038 shares during the last quarter. Deutsche Bank AG raised its holdings in shares of Imax by 1,320.5% in the 1st quarter. Deutsche Bank AG now owns 1,182,450 shares of the company’s stock worth $10,701,000 after acquiring an additional 1,099,211 shares during the last quarter. Finally, State Street Corp raised its holdings in shares of Imax by 0.3% in the 1st quarter. State Street Corp now owns 1,070,867 shares of the company’s stock worth $9,691,000 after acquiring an additional 3,563 shares during the last quarter. Institutional investors own 73.58% of the company’s stock.

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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