Rosenblatt Securities analyst Steve Frankel reiterated a Buy rating on IMAX (IMAX – Research Report) yesterday. The company’s shares closed last Friday at $16.67.
According to TipRanks, Frankel is an analyst with an average return of -5.2% and a 42.75% success rate. Frankel covers the Technology sector, focusing on stocks such as Avid Technology, Harmonic, and Dolby Laboratories.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for IMAX with a $23.50 average price target, which is a 40.97% upside from current levels. In a report released on July 29, B.Riley Financial also reiterated a Buy rating on the stock with a $25.00 price target.
See Insiders’ Hot Stocks on TipRanks >>
Based on IMAX’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $73.97 million and a GAAP net loss of $2.85 million. In comparison, last year the company earned revenue of $50.96 million and had a GAAP net loss of $9.21 million
Based on the recent corporate insider activity of 74 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of IMAX in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
IMAX Corp. is an entertainment technology company, which engages in the business of motion picture technologies and presentations. It operates through following four business segments: Network Business, Theater Business, New Business, and Other. The Network Business segment represents box office results and which includes the reportable segment of IMAX DMR and contingent rent from the joint revenue sharing arrangements and IMAX systems segments. The Theater Business segment includes the sale and installation of theater systems and maintenance services, primarily related to the IMAX Systems and Theater System Maintenance. The New Business segment involves content licensing and distribution fees associated with the firm’s original content investments, virtual reality initiatives, IMAX Home Entertainment, and other business initiatives that are in the development and/or start-up phase. The Other segment refers to certain IMAX theaters that the company owns and operates, camera rentals and other miscellaneous items. The company was founded by Graeme Ferguson, Roman Kroitor, Robert P. Kerr and William Shaw in 1967 and is headquartered in Mississauga, Canada.
Read More on IMAX:
- Cowen & Co. Remains a Buy on Westinghouse Air Brake Technologies (WAB)
- Citigroup Sticks to Their Buy Rating for Nearmap Ltd. (NEAPF)
- Aurizon Holdings Ltd. (QRNNF) Receives a Hold from Citigroup
- Morgan Stanley upgrades Incitec Pivot Limited (ICPVF) to a Buy
- Macquarie Sticks to Their Buy Rating for Santos Limited (STOSF)
