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Trade-Ideas: Imax Corporation (IMAX) Is Today's "Dead Cat Bounce" Stock

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

Trade-Ideas LLC identified Imax Corporation ( IMAX) as a "dead cat bounce" (down big yesterday but up big today) candidate. In addition to specific proprietary factors, Trade-Ideas identified Imax Corporation as such a stock due to the following factors:

  • IMAX has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $21.8 million.
  • IMAX has traded 793,257 shares today.
  • IMAX is up 3% today.
  • IMAX was down 8.6% yesterday.

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More details on IMAX:

IMAX Corporation, together with its subsidiaries, operates as an entertainment technology company specializing in motion picture technologies and presentations worldwide. IMAX has a PE ratio of 47.0. Currently there are 7 analysts that rate Imax Corporation a buy, no analysts rate it a sell, and 5 rate it a hold.

The average volume for Imax Corporation has been 582,100 shares per day over the past 30 days. Imax has a market cap of $2.0 billion and is part of the services sector and media industry. The stock has a beta of 2.02 and a short float of 30.2% with 20.89 days to cover. Shares are up 29.6% year to date as of the close of trading on Thursday.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12-months. Learn more.

TheStreetRatings.com Analysis:

TheStreet Quant Ratings rates Imax Corporation as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, growth in earnings per share and increase in net income. We feel these strengths outweigh the fact that the company is trading at a premium valuation based on our review of its current price compared to such things as earnings and book value.

Highlights from the ratings report include:

  • The revenue growth came in higher than the industry average of 0.7%. Since the same quarter one year prior, revenues rose by 17.2%. This growth in revenue appears to have trickled down to the company's bottom line, improving the earnings per share.
  • IMAX's debt-to-equity ratio is very low at 0.07 and is currently below that of the industry average, implying that there has been very successful management of debt levels.
  • The return on equity has improved slightly when compared to the same quarter one year prior. This can be construed as a modest strength in the organization. In comparison to the other companies in the Media industry and the overall market, IMAX CORP's return on equity significantly exceeds that of the industry average and is above that of the S&P 500.
  • IMAX CORP has improved earnings per share by 6.3% in the most recent quarter compared to the same quarter a year ago. The company has demonstrated a pattern of positive earnings per share growth over the past year. During the past fiscal year, IMAX CORP increased its bottom line by earning $0.61 versus $0.22 in the prior year.
  • The net income growth from the same quarter one year ago has exceeded that of the Media industry average, but is less than that of the S&P 500. The net income increased by 7.1% when compared to the same quarter one year prior, going from $11.03 million to $11.82 million.

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