B.Riley FBR Reiterates a Buy Rating on IMAX Corp (IMAX)

By Austin Angelo

In a report released today, Eric Wold from B.Riley FBR reiterated a Buy rating on IMAX Corp (IMAXResearch Report), with a price target of $34. The company’s shares closed yesterday at $20.84.

Wold noted:

“After the close on Tuesday (2/26), IMAX Corporation (IMAX) reported 4Q18 results that were mixed vs. our estimates with upside revenues and lower-than-expected adjusted EBITDA on the mix of system installs vs. our assumptions and the timing/level of SG&A expenses in the period. Nevertheless, with management guiding to a nearly-double-digit increase in system installs for 2019 and, for the first time, providing solid (and, we believe, conservative) guidance for both global box office and adjusted EBITDA margins, we see an attractive set-up for the shares as investors are able to get a clearer picture of the profitability of the core theater operations.”

According to TipRanks.com, Wold ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -3.7% and a 37.4% success rate. Wold covers the Services sector, focusing on stocks such as Cinemark Holdings Inc, National Cinemedia, and AMC Entertainment.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for IMAX Corp with a $28 average price target, a 34.4% upside from current levels. In a report issued on February 20, MKM Partners also maintained a Buy rating on the stock with a $27 price target.

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IMAX Corp’s market cap is currently $1.3B and has a P/E ratio of 51.44. The company has a Price to Book ratio of 2.43.

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IMAX Corp. is an entertainment technology company, which engages in the business of motion picture technologies and presentations. It operates through following business segments: Network Business, Theater Business, New Business, and Other.