Imax Corporation Company Profile (NYSE:IMAX)

Imax Corporation trades on the New York Stock Exchange (NYSE) under the ticker symbol "IMAX."

Imax Corporation declared that its Board of Directors has authorized a share repurchase program on Tuesday, June 13th 2017, which permits the company to buyback $200,000,000.00 in outstanding shares, according to EventVestor. This buyback authorization permits the company to repurchase up to 12.5% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's leadership believes its stock is undervalued.

Imax Corporation (NYSE:IMAX) released its quarterly earnings data on Wednesday, July, 26th. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.02) by $0.17. The firm had revenue of $87.76 million for the quarter, compared to the consensus estimate of $89.26 million. Imax Corporation had a return on equity of 2.39% and a net margin of 2.81%. The firm's revenue for the quarter was down 4.3% on a year-over-year basis. During the same quarter last year, the business posted $0.18 EPS. View Imax Corporation's Earnings History.

Imax Corporation is scheduled to release their next quarterly earnings announcement on Thursday, October, 19th 2017. View Earnings Estimates for Imax Corporation.

12 equities research analysts have issued 1 year target prices for Imax Corporation's stock. Their forecasts range from $27.00 to $41.00. On average, they anticipate Imax Corporation's stock price to reach $34.82 in the next year. View Analyst Ratings for Imax Corporation.

Here are some recent quotes from research analysts about Imax Corporation stock:

• 1. According to Zacks Investment Research, "IMAX has inked multiple deals to expand its global presence. Its focus on China is particularly encouraging, as the market offers significant commercial potential. The company's decision to announce a new buyback program worth up to $200 million is also impressive. IMAX intends to trim its workforce by approximately 14%, in a bid to drive its bottom line and increase efficiencies. The synergies are anticipated to be realized from the third quarter of this year. However, IMAX has delivered a below-par box office performance over the last few months. Moreover, it performed disappointingly in the second quarter of 2017. The bottom line contracted on a year over year basis, while revenues fell short of the Zacks Consensus Estimate. Additionally, the disappointing Memorial Day weekend turnout has hurt the stock. Shares of IMAX have underperformed its industry on a year-to-date basis. " (8/2/2017)
• 2. B. Riley analysts commented, "IMAX Corporation (IMAX) is scheduled to report Q4 results on Thursday, 2/23, after the close with a call at 4:30pm ET. With IMAX global box office coming in above our modeled projection, we calculate as much as $0.04-0.05 of upside to our $0.17 estimate and a result closer to consensus. However, as 2016 has already been generally accepted as a disappointing year for IMAX, we believe the focus will be more on any outlook for improving core cinema trends in 2017 along with initial expectations for new initiative spending (allowing analysts to separate any launch costs from improving core cinema EBITDA). We believe IMAX's lagging stock performance in the current box office up-cycle provides an attractive entry point as the growing system base and associated network effect are projected to drive 50%+ core cinema EBITDA growth in 2017. We are reiterating our Buy rating and unchanged price target of $46.00." (2/15/2017)
• 3. Wedbush analysts commented, "IMAX should grow revenue and earnings in 2017 and beyond as it (1) expands internationally beyond China, (2) obtains exclusive release windows, allowing it to capture a disproportionately large percentage of box office revenues, (3) grows its film slate, particularly internationally with local language films in China, Japan, Korea, and India, and (4) expands its new content offerings, possibly including virtual reality in addition to TV pilots." (2/14/2017)

Some companies that are related to Imax Corporation include Corus Entertainment (CJREF), Deckers Outdoor Corporation (DECK), DeVry Education Group (ATGE), Thomas Cook Grp (TCKGY), Penn National Gaming (PENN), La Quinta Holdings (LQ), Caesars Entertainment Corporation (CZR), Masonite International Corporation (DOOR), Central Garden & Pet Company (CENT), AMC Entertainment Holdings (AMC), Eldorado Resorts (ERI), World Wrestling Entertainment (WWE), Party City Holdco (PRTY), NutriSystem (NTRI), Emerald Expositions Events (EEX), International Speedway Corporation (ISCA), La-Z-Boy Incorporated (LZB) and American Woodmark Corporation (AMWD).

Imax Corporation's management team includes the folowing people:

• Bradley J. Wechsler, Chairman of the Board
• Don Savant, President - Global Sales, Exhibitor Relations
• Richard L. Gelfond, Chief Executive Officer, Director
• Patrick S. McClymont, Chief Financial Officer, Executive Vice President
• Jiande Chen, Chief Executive Officer - IMAX China Holding, Inc
• Mark Welton, President - IMAX Theatres
• Carrie Lindzon-Jacobs, Chief Human Resource Officer, Executive Vice President
• Brian Bonnick, Executive Vice President, Chief Technology Officer
• Jason Brenek, Executive Vice President - IMAX Corporation ,President of IMAX Home Entertainment
• David B. Keighley, Executive Vice President, Chief Quality Officer, President of IMAX Post/DKP Inc., Emeritus,

Imax Corporation's stock is owned by many different of institutional and retail investors. Top institutional shareholders include Franklin Resources Inc. (7.82%), TimesSquare Capital Management LLC (5.91%), Alliancebernstein L.P. (5.03%), Frontier Capital Management Co. LLC (3.27%), Stephens Investment Management Group LLC (3.08%) and Voya Investment Management LLC (2.20%). Company insiders that own Imax Corporation stock include Andrew Cripps, David W Leebron, Eileen Campbell, Eric A Demirian, G Mary Ruby, Greg Foster, Jeff Vance, Jeffrey Vance, Joseph Sparacio, Mark Welton, Michael Macmillan, Patrick Mcclymont, Richard L Gelfond and Robert D Lister. View Institutional Ownership Trends for Imax Corporation.

Imax Corporation's stock was sold by a variety of institutional investors in the last quarter, including Victory Capital Management Inc., William Blair Investment Management LLC, DF Dent & Co. Inc., Russell Investments Group Ltd., Fiera Capital Corp, Peregrine Capital Management LLC, New York State Common Retirement Fund and Ameriprise Financial Inc.. Company insiders that have sold Imax Corporation stock in the last year include Andrew Cripps, Eileen Campbell, Eric A Demirian, Greg Foster, Jeffrey Vance, Mark Welton, Patrick Mcclymont, Richard L Gelfond and Robert D Lister. View Insider Buying and Selling for Imax Corporation.

Imax Corporation's stock was acquired by a variety of institutional investors in the last quarter, including TimesSquare Capital Management LLC, Franklin Resources Inc., Pembroke Management LTD, Light Street Capital Management LLC, Janus Henderson Group PLC, Stephens Investment Management Group LLC, Dimensional Fund Advisors LP and Bank of New York Mellon Corp. View Insider Buying and Selling for Imax Corporation.

Shares of Imax Corporation can be purchased through any online brokerage account. Popular online brokerages include Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Scottrade, Fidelity and Charles Schwab.

One share of Imax Corporation stock can currently be purchased for approximately $18.75.