Wedbush analyst Michael Pachter maintained a Hold rating on IMAX (IMAX) today and set a price target of $14.00. The company’s shares closed last Friday at $11.56.
According to TipRanks.com, Pachter is a 4-star analyst with an average return of 3.2% and a 56.0% success rate. Pachter covers the Technology sector, focusing on stocks such as Alphabet Class A, Unity Software, and Corsair Gaming.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for IMAX with a $15.42 average price target.
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Based on IMAX’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $8.86 million and GAAP net loss of $25.97 million. In comparison, last year the company earned revenue of $78.93 million and had a net profit of $11.4 million.
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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 four business segments: Network Business, Theater Business, New Business, and Other. The Network Business segment represents box office results and which includes the reportable segment of IMAX DMR and contingent rent from the joint revenue sharing arrangements and IMAX systems segments. The Theater Business segment includes the sale and installation of theater systems and maintenance services, primarily related to the IMAX Systems and Theater System Maintenance. The New Business segment involves content licensing and distribution fees associated with the firm’s original content investments, virtual reality initiatives, IMAX Home Entertainment, and other business initiatives that are in the development and/or start-up phase. The Other segment refers to certain IMAX theaters that the company owns and operates, camera rentals and other miscellaneous items. The company was founded by Graeme Ferguson, Roman Kroitor, Robert P. Kerr and William Shaw in 1967 and is headquartered in Mississauga, Canada.
