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IMAX Corporation (IMAX) in Focus: Stock Moves 5.2% Higher
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IMAX Corporation (IMAX - Free Report) was a big mover last session, as the company saw its shares rise over 5% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This reverses the recent trend for the company—as the stock is now down 9.5% in the past one-month time frame.
The shares of IMAX witnessed the upmove after the company announced that it will be laying off nearly 14% of its workforce, which is expected to save the company about $20 million annually. Also, the announcement of a new share repurchase program was another positive news.
The company has seen one negative estimate revisions in the past month, as a result of which, the Zacks Consensus Estimate for the current quarter has also moved lower over the same time frame, suggesting that there may be some trouble down the road. So make sure to keep an eye on this stock going forward, to see if this recent move higher can last.
IMAX currently has a Zacks Rank #4 (Sell) while its Earnings ESP is negative.
Is IMAX going up? Or down? Predict to see what others think: Up or Down
Zacks' 2017 IPO Watch List
Before looking into the stocks mentioned above, you may want to get a head start on potential tech IPOs that are popping up on Zacks' radar. Imagine being in the first wave of investors to jump on a company with almost unlimited growth potential? This Special Report gives you the current scoop on 5 that may go public at any time.
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IMAX Corporation (IMAX) in Focus: Stock Moves 5.2% Higher
IMAX Corporation (IMAX - Free Report) was a big mover last session, as the company saw its shares rise over 5% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This reverses the recent trend for the company—as the stock is now down 9.5% in the past one-month time frame.
The shares of IMAX witnessed the upmove after the company announced that it will be laying off nearly 14% of its workforce, which is expected to save the company about $20 million annually. Also, the announcement of a new share repurchase program was another positive news.
The company has seen one negative estimate revisions in the past month, as a result of which, the Zacks Consensus Estimate for the current quarter has also moved lower over the same time frame, suggesting that there may be some trouble down the road. So make sure to keep an eye on this stock going forward, to see if this recent move higher can last.
IMAX currently has a Zacks Rank #4 (Sell) while its Earnings ESP is negative.
Imax Corporation Price and Consensus
Imax Corporation Price and Consensus | Imax Corporation Quote
A better-ranked stock in the Film and Television Production and Distribution industry is Twenty-First Century Fox, Inc. (FOX - Free Report) , which currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Is IMAX going up? Or down? Predict to see what others think: Up or Down
Zacks' 2017 IPO Watch List
Before looking into the stocks mentioned above, you may want to get a head start on potential tech IPOs that are popping up on Zacks' radar. Imagine being in the first wave of investors to jump on a company with almost unlimited growth potential? This Special Report gives you the current scoop on 5 that may go public at any time.
One has driven from 0 to a $68 billion valuation in 8 years. Four others are a little less obvious but already show jaw-dropping growth. Download this IPO Watch List today for free >>