In a report released today, Eric Wold from B.Riley FBR reiterated a Buy rating on IMAX Corp (NYSE: IMAX), with a price target of $34. The company’s shares closed yesterday at $23.60.
Wold commented:
“IMAX Corporation (IMAX) is scheduled to report 2Q18 results after the close on Wednesday, 7/25, with a call at 4:30pm ET. We are not making any changes to our estimates as we continue to see an upside bias to our/consensus 2Q18 expectations given the combination of stronger- than-modeled box office performance, the likelihood for improved operating margin flow- through, as well as potential for accelerated system installs (we model 34 total installs).”
According to TipRanks.com, Wold is a 5-star analyst with an average return of 9.0% and a 58.7% success rate. Wold covers the Services sector, focusing on stocks such as Reading International Inc, Cinemark Holdings Inc, and National Cinemedia.
Currently, the analyst consensus on IMAX Corp is a Strong Buy with an average price target of $30, which is a 27.1% upside from current levels. In a report issued on July 3, Wedbush also reiterated a Buy rating on the stock with a $32 price target.
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The company has a one-year high of $27.60 and a one-year low of $17.58. Currently, IMAX Corp has an average volume of 625.6K.
Based on the recent corporate insider activity of 32 insiders, corporate insider sentiment is negative on the stock.
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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.
