The Stifel Nicolaus Reaffirmed “Buy” Rating for the Imax Corp. (IMAX)

The Stifel Nicolaus Reaffirmed “Buy” Rating for the Imax Corp. (IMAX)

Stifel Nicolaus reiterated their buy rating on shares of Imax Corp. (NYSE:IMAX) in a research note issued to investors on Tuesday. The brokerage currently has a $40.00 price target on the stock.

Other equities research analysts have also recently issued reports about the stock. Zacks Investment Research cut shares of Imax Corp. from a hold rating to a sell rating in a research report on Tuesday, September 20th. B. Riley reiterated a buy rating and set a $42.50 price target on shares of Imax Corp. in a research report on Wednesday, November 16th. Macquarie dropped their price target on shares of Imax Corp. from $42.00 to $41.00 and set an outperform rating for the company in a research report on Wednesday, September 14th. MKM Partners reiterated a buy rating and set a $40.00 price target on shares of Imax Corp. in a research report on Tuesday, October 18th. Finally, Credit Suisse Group AG began coverage on shares of Imax Corp. in a research report on Friday, November 11th. They set an outperform rating and a $42.00 price target for the company. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The stock presently has an average rating of Buy and an average price target of $40.36.

Shares of Imax Corp. (NYSE:IMAX) opened at 30.75 on Tuesday. Imax Corp. has a 52-week low of $25.52 and a 52-week high of $36.68. The company’s 50-day moving average is $32.17 and its 200-day moving average is $30.67. The stock has a market cap of $2.05 billion, a PE ratio of 49.92 and a beta of 1.21.

Imax Corp. (NYSE:IMAX) last released its quarterly earnings data on Thursday, October 20th. The company reported $0.12 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.04. Imax Corp. had a net margin of 10.86% and a return on equity of 5.99%. The firm earned $86.60 million during the quarter, compared to analysts’ expectations of $77.09 million. During the same period last year, the business earned $0.17 earnings per share. Imax Corp.’s revenue was up 1.8% compared to the same quarter last year. Equities analysts anticipate that Imax Corp. will post $0.80 EPS for the current year.

In other news, insider Mark Welton sold 3,015 shares of the business’s stock in a transaction that occurred on Friday, December 2nd. The shares were sold at an average price of $31.02, for a total transaction of $93,525.30. Following the completion of the sale, the insider now owns 9,969 shares in the company, valued at approximately $309,238.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Robert D. Lister sold 3,343 shares of the business’s stock in a transaction that occurred on Monday, December 12th. The stock was sold at an average price of $31.90, for a total transaction of $106,641.70. Following the sale, the insider now owns 19,917 shares of the company’s stock, valued at approximately $635,352.30. The disclosure for this sale can be found here. Insiders own 5.80% of the company’s stock.

Hedge funds have recently modified their holdings of the company. TimesSquare Capital Management LLC increased its stake in shares of Imax Corp. by 3.0% in the second quarter. TimesSquare Capital Management LLC now owns 3,387,511 shares of the company’s stock valued at $99,864,000 after buying an additional 98,100 shares in the last quarter. Alliancebernstein L.P. increased its stake in shares of Imax Corp. by 65.2% in the second quarter. Alliancebernstein L.P. now owns 2,551,591 shares of the company’s stock valued at $75,221,000 after buying an additional 1,007,308 shares in the last quarter. Victory Capital Management Inc. bought a new stake in shares of Imax Corp. during the third quarter valued at $65,343,000. BlackRock Fund Advisors increased its stake in shares of Imax Corp. by 6.4% in the third quarter. BlackRock Fund Advisors now owns 1,486,939 shares of the company’s stock valued at $43,077,000 after buying an additional 89,651 shares in the last quarter. Finally, Stephens Investment Management Group LLC increased its stake in shares of Imax Corp. by 15.8% in the third quarter. Stephens Investment Management Group LLC now owns 1,472,474 shares of the company’s stock valued at $42,658,000 after buying an additional 200,860 shares in the last quarter. Institutional investors and hedge funds own 84.33% of the company’s stock.

About Imax Corp.

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