IMAX Corp Receives a Buy from Piper Jaffray

By Austin Angelo

In a report issued on September 14, Stan Meyers from Piper Jaffray reiterated a Buy rating on IMAX Corp (NYSE: IMAX), with a price target of $28. The company’s shares closed on Friday at $22.05.

According to TipRanks.com, Meyers is ranked 0 out of 5 stars with an average return of -5.9% and a 34.0% success rate. Meyers covers the Services sector, focusing on stocks such as Lions Gate Ent Corp Cl A, Cinemark Holdings Inc, and Regal Entertainment.

IMAX Corp has an analyst consensus of Strong Buy, with a price target consensus of $30.14.

Based on IMAX Corp’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $87.76 million and GAAP net loss of $1.71 million. In comparison, last year the company earned revenue of $91.74 million and had a net profit of $7.79 million.

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IMAX Corp. is an entertainment technology company, which focuses in motion picture technologies and presentations. It operates through following business segments: IMAX systems; Theater System Maintenance; Joint Revenue Sharing Arrangements; Film Production and IMAX DMR; Film Distribution; Film Post-Production; and Other.