Imax price target lowered to $20 on coronavirus headwinds at Barrington » 09:5702/2402/24/20
Barrington analyst James…
Barrington analyst James Goss lowered the firm's price target on Imax to $20 from $24 and keeps an Outperform rating on the shares. The analyst says that while Imax faced "significant" short-term headwinds related to its operations in China from the coronavirus outbreak, the overall impact to be temporary as the theatrical experience broadly and the Imax experience in particular remains highly valued by consumers. The current coronavirus outbreak makes projecting installations in the Chinese market uncertain, but overall growth expectations for the rest of Imax's markets remain robust, Goss tells investors in a research note.
Imax selloff discounts 'non-existent long-term issues,' says B. Riley FBR » 08:5802/2002/20/20
Although China represents…
Although China represents a short-term headwind around both box office trends and system installation timing, Imax's underlying demand trends and the long-term installation outlook remain solid, B. Riley FBR analyst Eric Wold tells investors in a post-earnings research note. While lowered his 2020 and 2021 estimates given the China uncertainty, the analyst believes the recent stock weakness is discounting "non-existent long-term issues coming out of the China situation." As such, Wold would not be surprised if management is taking advantage of the recent weakness with accelerated share repurchases. He reiterates a Buy rating on Imax with a $26 price target.
|Over a week ago|
Fly Intel: After Hours Movers » 19:1002/1902/19/20
STMP, SREV, Z, CAR, CYH, NE, MANT, XEC, CYBE, UCTT, TRN, MX, IMAX, SM, GDOT, SNBR, PXD, SPN, LASR, AJRD, SUN, MASI, ALB, TVTY, OSUR, NVTA, SAM, BCOV, LOPE, SPTN, UAN, CRMT, QTWO, INOV, SNPS, RETA, CAKE, CONE, VMI, JACK, H, TS, AXGT, BTAI, HRTX, IRT, TEVA
UP AFTER EARNINGS:…
UP AFTER EARNINGS: Stamps.com (STMP) up 31.4%... ServiceSource (SREV) up 16.1%... Zillow Group (Z) up 15.1%... Avis Budget (CAR) up 12.3%... Community Health (CYH) up 11.0%... Noble Corp (NE) up 11.0%... ManTech (MANT) up 9.4%... Cimarex Energy (XEC) up 8.2%... CyberOptics (CYBE) up 7.8%... Ultra Clan (UCTT) up 7.3%... Trinity Industries (TRN) up 6.3%... MagnaChip Semi (MX) up 4.8%... Imax Corp (IMAX) up 3.8%... SM Energy (SM) up 3.6%... Green Dot (GDOT) up 3.2%... Sleep Number (SNBR) up 3.0%... Pioneer Natural (PXD) up 2.7%... Superior Energy (SPN) up 2.7%... nLight (LASR) up 2.6%... Aerojet Rocketdyne (AJRD) up 2.6%... Sunoco (SUN) up 2.4%... Masimo Corp (MASI) up 1.5%... Albemarle (ALB) up 1.3%. DOWN AFTER EARNINGS: Tivity Health (TVTY) down 33.7%... OraSure Technologies (OSUR) down 15.7%... Invitae (NVTA) down 10.9%... Boston Beer Co (SAM) down 9.1%... Brightcove (BCOV) down 8.7%... Grand Canyon Education (LOPE) down 7.2%... Grand Canyon Education (LOPE) down 7.2%... SpartanNash (SPTN) down 6.2%... CVR Partners (UAN) down 5.5%... America's Carmart (CRMT) down 3.5%... Q2 Holdings (QTWO) down 3.2%... Inovalon (INOV) down 3.2%... Synopsys (SNPS) down 3.0%... Reata Pharma (RETA) down 2.3%... Cheesecake Factory (CAKE) down 2.2%... CyrusOne (CONE) down 2.1%... Valmont Industries (VMI) down 2.0%... Jack in the Box (JACK) down 1.8%... Hyatt (H) down 1.3%... Tenaris (TS) down 1.3%. ALSO LOWER: Axovant Gene Therapies (AXGT) down 11.6% after equity offering... BioXcel Therapeutics (BTAI) down 10.1% after equity offering... Heron Therapeutics (HRTX) down 8.6% after FDA extended review period for HTX-011 NDA... Independence Realty Trust (IRT) down 4.6% after equity offering... Teva Pharma (TEVA) down 4.1% after Phase 2/3 trials in deutetrabenazine failed to meet the primary endpoints. Movers as of 18:30ET.
Imax reports Q4 adjusted EPS 35c, consensus 30c » 16:1002/1902/19/20
Reports Q4 revenue…
Reports Q4 revenue $124.3M, consensus $117.46M.
Imax price target lowered to $26 from $30 at B. Riley FBR » 09:2902/1302/13/20
B. Riley FBR analyst Eric…
B. Riley FBR analyst Eric Wold lowered his price target for Imax to $26 from $30 while reiterating a Buy rating on the shares. The analyst reduced his Q1 estimates on the potential box office impact from the coronavirus outbreak in China and subsequent shut-down of the exhibition industry, which he says is becoming "increasingly clear." Wold, however, does not believe this represents enough of a risk to warrant a rating downgrade of Imax shares. Not only is Imax "extremely well positioned" in China and other regions as the 2021 film slate comes into view, the company is the only potential acquisition candidate within the exhibition coverage universe, Wold tells investors in a research note.
Imax price target lowered to $24 from $28 at MKM Partners » 09:1802/0402/04/20
MKM Partners analyst Eric…
MKM Partners analyst Eric Handler lowered his price target on Imax to $24 to reflect the expected impact of China coronavirus on near-term results. The analyst keeps his Buy rating on the stock however and believes that the movie theater precautionary shutdown due to medical concerns will be a "temporary issue", noting the company's lengthy runway for continued expansion.
Imax price target lowered to $22 from $28 at Wedbush » 08:1902/0302/03/20
Wedbush analyst Michael…
Wedbush analyst Michael Pachter lowered his price target for Imax to $22 from $28 based on a 9-times EV-to-EBITDA from 10-times prior on his reduced 2020 EBITDA estimate. Despite the likely 2020 blip related to the coronavirus in China, long-term the analyst expects Imax to grow revenue and adjusted EBITDA as it expands internationally, grows its film slate with more IMAX DNA and local-language films, and maintains its reduced cost structure. Pachter has an Outperform rating on the shares.
Imax price target lowered to $20 from $28 at Benchmark » 07:2301/2901/29/20
Benchmark analyst Mike…
Benchmark analyst Mike Hickey reduced his Q4 expectations for Imax as the global box office underperformed and he lowered his FY20 outlook to account for the coronavirus impact on Chinese New Year holiday film attendance, the potential deceleration in new theater openings and concern over the domestic box office. He maintains a Buy rating on Imax shares, but lowered his price target on the stock to $20 from $28 to account for his lowered projections.
|Over a month ago|
Fly Intel: Wall Street's top stories for Thursday » 16:4101/2301/23/20
CMCSA, CMCSK, PG, TRV, MU, WDC, WFC, NFLX, CTXS, JBLU, IMAX, FCX, VFC
Stocks were sliding on…
Imax to postpone Chinese New Year film slate » 11:4901/2301/23/20
IMAX Corporation (NYSE:…
IMAX Corporation (NYSE: IMAX) today released a statement regarding the decision to postpone the theatrical releases planned for the upcoming Chinese New Year holiday in China: "The safety of Chinese audiences is our top priority. IMAX supports the decision to postpone the release of the Chinese New Year film slate and believes it to be the best course of action in an unfortunate situation. We remain excited about these films, given the strong box office projections and pre-sale figures heading into this weekend. We have every expectation that these films will be released in 2020 and that audience demand for these releases will remain high. Our thoughts are with the Chinese people, for whom we wish a swift resolution to this issue and a safe and healthy Chinese New Year."