IMAX Corp (IMAX) Gets a Buy Rating from B.Riley FBR

By Ryan Adsit

B.Riley FBR analyst Eric Wold reiterated a Buy rating on IMAX Corp (IMAXResearch Report) today and set a price target of $34. The company’s shares closed yesterday at $20.21.

Wold commented:

“IMAX Corporation (IMAX) is scheduled to report 2Q19 results after the close on a conference call at 4:30pm ET. With final 2Q19 IMAX box office results coming in slightly below our modeled projection along with a greater contribution from China, we are lowering our estimates below consensus. While a handful of films released during June underperformed expectations on all formats (with IMAX not being immune), we remain positive on the upcoming release slate and are not making any changes to our underlying film-by-film box office assumptions for 2H19 or 2020.”

According to TipRanks.com, Wold has 0 stars on 0-5 star ranking scale with an average return of -6.7% and a 31.6% success rate. Wold covers the Services sector, focusing on stocks such as Reading International Inc, Cinemark Holdings Inc, and National Cinemedia.

IMAX Corp has an analyst consensus of Strong Buy, with a price target consensus of $29.25.

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Based on IMAX Corp’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $8.27 million. In comparison, last year the company had a net profit of $7.63 million.

Based on the recent corporate insider activity of 33 insiders, corporate insider sentiment is negative on the stock. Last month, Neil Braun, a Director at IMAX sold 8,000 shares for a total of $169,120.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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