B.Riley FBR Thinks IMAX Corp’s Stock is Going to Recover

By Ryan Adsit

B.Riley FBR analyst Eric Wold reiterated a Buy rating on IMAX Corp (IMAXResearch Report) today. The company’s shares closed on Friday at $17.86, close to its 52-week low of $17.80.

Wold wrote:

“We are revisiting IMAX Corporation (IMAX—Buy; $34 PT) as the final major blockbuster opening of the year on IMAX screens domestically helps to provide some clarity into 4Q18 box office and increased visibility into upside to our 4Q18 adjusted EBITDA and EPS estimates that would bring them more in line with consensus, if not above, depending on Aquaman demand through the holidays.”

According to TipRanks.com, Wold is ranked 0 out of 5 stars with an average return of -5.1% and a 34.6% success rate. Wold covers the Services sector, focusing on stocks such as Reading International Inc, Cinemark Holdings Inc, and National Cinemedia.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for IMAX Corp with a $26.50 average price target.

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Based on IMAX Corp’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $5.02 million. In comparison, last year the company had a GAAP net loss of $850K.

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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.