Imax Corp (IMAX)
IMAX Corporation is a technology company known for its immersive film projection and theater systems. It specializes in designing and manufacturing high-resolution digital and film-based projection systems that deliver enhanced visual and audio experiences. IMAX is widely used in cinemas worldwide to showcase blockbuster films and immersive entertainment content. The company also develops proprietary theater architecture and digital media solutions, positioning itself as a leader in premium cinematic experiences.
Company News
AMC Entertainment reported a strong Q2 with revenue growth and narrowing losses, showing potential for a turnaround despite ongoing challenges in the movie theater industry.
Calian Group Ltd. announced the appointment of Eric Demirian to its Board of Directors. Demirian has extensive financial expertise and experience on public company boards, which will be valuable to Calian as it continues its growth journey.
IMAX Corporation has announced a significant expansion of its presence in Saudi Arabia through a collaboration with muvi Cinemas, the country's largest exhibitor. The agreement outlines plans for the installation of four new state-of-the-art IMAX with Laser systems across major commercial centers in Saudi Arabia, further extending the company's reach within the country.
Wedbush analyst Alicia Reese reiterated an Outperform rating on the shares of IMAX Corp (NYSE:IMAX) with a price target of $22. The company is slated to report its first-quarter FY24 earnings on April 25, Thursday. The analyst expects first-quarter revenue of $82 million vs. the prior estimate of $76 million and consensus of $77 million, with EPS of $0.15 vs. the previous estimate of $0.09 and consensus of $0.08. IMAX reported a total global first-quarter box office on IMAX screens of $260 million, ahead of the $216 million estimate, thereby raising the analyst’s first-quarter revenue estimate by $9 million in revenue from studios and theater partners. The ...Full story available on Benzinga.com
Movie-theater stocks may be facing a tough first-quarter domestic box office, but they could be set for upside later this year, according to Macquarie Equity Research.
