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21 stories mentioning IMAXUpdated 6d ago

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Wire

IMAX Q2 Results Reinforce Long-Term Growth Outlook, Wedbush Says

IMAX's (IMAX) Q2 results reinforced its long-term growth outlook as higher theater installations and operating-expense leverage helped the company exceed expectations, Wedbush Securities said Friday in a report.Revenue rose 12% to $103 million, above the $94 million consensus estimate, while adjusted earnings before interest, taxes, depreciation, and amortization, excluding noncontrolling interests, reached $45 million, topping Wedbush's $39 million forecast, the report said.Weaker box-office results in China and a "modest" domestic market-share decline were temporary, and growth should be supported by more filmed-for-IMAX titles, rising local-language content, alternative programming beyond Hollywood releases and continued global expansion, Wedbush said.IMAX maintained its 2026 targets of $1.4 billion in global box-office revenue, 160 to 175 installations and an adjusted EBITDA margin of at least 45%, and the margin targets through 2028 may prove "conservative," the report said.Wedbush raised its price target on IMAX stock to $54 from $46 and reiterated its outperform rating.Price: $44.52, Change: $+0.56, Percent Change: +1.26%

$IMAX
Wire

Barrington Research Adjusts IMAX Price Target to $50 From $46, Maintains Outperform Rating

IMAX (IMAX) has an average rating of buy and mean price target of $49.83, according to analysts polled by FactSet.Price: $44.63, Change: $+0.66, Percent Change: +1.51%

$IMAX
Sectors

Sector Update: Consumer Stocks Decline Late Afternoon

Consumer stocks were lower late Thursday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) falling 1.6% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) dropping 4.7%.In corporate news, Tesla (TSLA) shares fell past 14% after it reported an unexpected year-over-year decline in Q2 earnings, weighed by higher operating expenses related to research and development and AI initiatives.Albertsons (ACI) shares tumbled 23% after the grocery chain lowered its fiscal 2026 earnings and identical sales outlook and reported weaker-than-expected Q1 profits.American Airlines (AAL) lowered its full-year earnings outlook on Thursday as higher fuel costs drove Q2 bottom-line lower year on year, adding to signs that rising fuel prices are weighing on airline profitability. Its shares dropped 7.5%.IMAX (IMAX) shares jumped past 10% after it reported better-than-expected Q2 performance.

$AAL$ACI$IMAX$TSLA
Sectors

Sector Update: Consumer

Consumer stocks were lower late Thursday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) falling 1.6% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) dropping 4.7%.In corporate news, IMAX (IMAX) shares jumped past 10% after it reported better-than-expected Q2 performance.

$IMAX
Comcast's Universal Pictures Nets $264.1 Million Global Opening for 'The Odyssey'
US Markets

Comcast's Universal Pictures Nets $264.1 Million Global Opening for 'The Odyssey'

Comcast (CMCSA) unit Universal Pictures' "The Odyssey" adventure drama fantasy soared in its theatrical debut over the weekend, taking in $264.1 million worldwide and giving the studio a box office win.The film grossed $124.5 million domestically and $139.6 million internationally over its opening weekend, according to a report by IMDbPro.IMAX (IMAX) screenings powered the successful debut, generating $29.6 million domestically across 444 screens, nearly 24% of North American market share, and $22.2 million internationally, setting all-time IMAX opening records in 26 territories including France, Germany, and Mexico."'The Odyssey' is among a rarified group of instant classic blockbusters in IMAX history that fully leverage our platform; as bullish as we are on its success, our experience tells us that even we don't know how this movie will grow our brand and business," IMAX Chief Executive Rich Gelfond said.The film has yet to open in several major Asian markets, with IMAX rollout scheduled for South Korea on Aug. 5, China on Aug. 14, and Japan on Sept. 11.AMC Entertainment (AMC) said surging demand for "The Odyssey" drove six of its key US theaters to run showtimes around the clock for over 85 consecutive hours throughout the weekend. The film marked AMC's highest-grossing opening weekend for an R-rated title since 2024.North American moviegoers purchased roughly 7.5 million tickets for the picture's opening run, CNBC reported, citing EntTelligence data. Premium large formats accounted for 45% of total ticket volume with an average price tag of $19, while specialized 70mm viewings generated 5% of overall turnout at roughly $22.50 per ticket.AMC shares jumped 13% in recent trade Monday, while IMAX rose 0.8%. Comcast fell 0.8%.Price: $23.71, Change: $-0.09, Percent Change: -0.36%

$AMC$CMCSA$IMAX
Research

Wells Fargo Downgrades IMAX to Equalweight From Overweight, Cuts Price Target to $41 From $47

IMAX (IMAX) has an average rating of buy and mean price target of $47.83, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

$IMAX
June Domestic Box Office Likely to Set Up Best Second-Quarter Post COVID-19, B. Riley Says
US Markets

June Domestic Box Office Likely to Set Up Best Second-Quarter Post COVID-19, B. Riley Says

US box office revenue in June is likely to come in higher than previously projected, potentially setting up the best second-quarter performance after the COVID-19 pandemic, according to B. Riley Securities.Figures for the current ending month show box office collections are likely to come in at $1.05 billion, climbing 27% year over year and ahead of the brokerage's prior forecast of $1 billion, it said in a client note emailed Tuesday.B. Riley cited ongoing momentum for certain releases in May, such as the Comcast (CMCSA)-owned Universal Pictures' "Obsession" and the A24-distributed "Backrooms," behind the upgrade.The performance is expected to result in a quarterly domestic box office of around $3 billion, representing an annual gain of 10% and the "best (second quarter) post-COVID," B. Riley Managing Director Drew Crum said in the note. This would be a "positive for all names across our universe," especially AMC Entertainment (AMC), Cinemark (CNK) and Marcus (MCS), according to Crum.AMC shares edged down 0.3% in Tuesday trade, while Cinemark and Marcus declined 2% each.Box office collections totaled $155.2 million over the weekend, led by Walt Disney's (DIS) "Toy Story 5" with $70.8 million, according to BoxOfficeMojo, owned by Amazon (AMZN) company IMDb. Momentum for the film was "muted by an equity offering" by AMC, B. Riley said.Last week, AMC closed its registered direct offering of 95.3 million common shares for gross proceeds of around $200 million.Warner Bros.' (WBD) "Supergirl" raked in an estimated $37.1 million, which the brokerage views as "underwhelming" when compared with its reported $170 million production budget. Imax (IMAX) took in nearly $8 billion of the film's domestic box office, or roughly 20%, "representing its highest domestic opening weekend index of any superhero title" in the theater company's history, according to B. Riley.Price: $2.01, Change: $-0.02, Percent Change: -0.99%

$AMC$AMZN$CNK$DIS$IMAX$MCS$WBD
Domestic Box Office Poised for Continued Momentum After May Beat, B. Riley Says
US Markets

Domestic Box Office Poised for Continued Momentum After May Beat, B. Riley Says

Domestic box office performance in May was stronger than expected, likely boding well for this month, with AMC Entertainment (AMC), Cinemark (CNK), and Marcus (MCS) seen as beneficiaries, B. Riley Securities said Monday.Preliminary figures for last month show box office collections of $1.06 billion, up 9% year over year and ahead of the brokerage's $890 million forecast."We believe it was ahead of market expectations, providing added confidence in near-term estimates and the summer slate," B. Riley Managing Director Drew Crum said in a note to clients. "A stronger June slate headlined by 'Toy Story 5,' plus an easier comp, suggests further positive momentum is plausible."B. Riley sees AMC, Cinemark and Marcus among the beneficiaries, according to the note.AMC shares were up nearly 14% in Monday afternoon trade, while Cinemark jumped 11%. Marcus rose 3.6%.The latest box office performance reflects carryover from April movies like Amazon (AMZN) MGM-distributed film "Project Hail Mary," and "Michael," as well as a solid sequel debut for "The Devil Wears Prada 2," and a strong opening weekend for A24's YouTube-inspired horror phenomenon "Backrooms," B. Riley said.The brokerage expects May box office performance to be issued this week, including a global total from Imax (IMAX) and separately a figure from Cineplex offering a read on the Canadian market, according to the note.B. Riley projects June domestic box office collections at $1 billion, which would mark a 20% annual gain amid an easier prior-year comparison and other upcoming high-profile titles like Amazon MGM's "Masters of the Universe" and Paramount's (PSKY) "Scary Movie."Box office performance will potentially be offset by the FIFA World Cup 2026, which kicks off June 11, according to the brokerage.Price: $1.96, Change: $+0.23, Percent Change: +13.01%

$AMC$AMZN$CNK$IMAX$MCS$PSKY
Wire

Imax, Georgia Theatre Co. Sign Deal for Five New Imax With Laser Locations in Southeastern US

Imax (IMAX) and Georgia Theatre Co. said Wednesday they have signed an agreement to open five new Imax with Laser locations in the southeastern US.Financial details were not provided.Two locations will open next year and the rest will open in 2028 and 2029, the companies said.The deal expands a partnership that started last year with the opening of Georgia Theatre Co.'s first Imax location in Athens, Georgia, the companies said.Price: $40.70, Change: $+0.09, Percent Change: +0.21%

$IMAX
IMAX Potential Suitors Include Netflix, Apple, Wedbush Says
US Markets

IMAX Potential Suitors Include Netflix, Apple, Wedbush Says

A potential sale of IMAX (IMAX) could attract a number of likely suitors including private equity firms, Netflix (NFLX) and Apple (AAPL), Wedbush Securities said in a Friday note.The premium theater company is exploring a sale, The Wall Street Journal reported Thursday, citing people familiar with the matter. The sale process, however, is still in the early stages, according to the report.IMAX has held "preliminary talks" through intermediaries, although the company hasn't made any official pitches, CNBC reported Thursday, citing a source.Wedbush said IMAX is an attractive asset, pointing to its strong brand and an expanding earnings profile."At roughly $2 billion in enterprise value, a prospective acquirer would be buying one of the most defensible moats in entertainment for what amounts to a rounding error on the balance sheet of any major studio or technology platform," Wedbush analysts including Alicia Reese wrote.PE ownership would avoid a potential platform conflict as there would be no competing interest, Reese said.The conflict-of-interest problem is "meaningfully smaller" in case Netflix acquires IMAX."Netflix's content calendar remains thin enough that purchasing IMAX would not foreclose rival studio access to the format; the conflict-of-interest problem that would constrain regular studio buyers is meaningfully smaller for Netflix," Reese said. "Owning IMAX would also give every major filmmaker Netflix signs a guaranteed premium theatrical showcase as part of the deal, a powerful recruiting tool in a competitive talent marketplace."On the other hand, Apple TV+ is investing "aggressively" in prestige content and has relationships with filmmakers, who could pitch a guaranteed IMAX showcase during their signing conversations, according to the research note.IMAX's current enterprise value is "a rounding error relative to Apple's balance sheet," Wedbush said.Meanwhile, Sony (SONY) has the best strategic narrative of any studio acquirer."It has no streaming platform, making theatrical its primary monetization window in a way that is structurally different from other major studios," Reese said.IMAX's shares were advancing by 15% ahead of market close on Friday.Price: $39.13, Change: $+5.25, Percent Change: +15.50%

$AAPL$IMAX$NFLX$SONY
Sectors

Sector Update: Consumer Stocks Advance Late Afternoon

Consumer stocks rose late Friday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) adding 0.2% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) increasing 0.4%.In sector news, US consumer sentiment declined to a fresh record low in May as people fear that high gasoline prices could erode their purchasing power, University of Michigan said Friday. The main sentiment index tumbled 10% to 44.8 from last month. The consensus in a Bloomberg-compiled poll was for May's print to stay unchanged from a preliminary 48.2 estimate.In corporate news, Ross Stores (ROST) shares climbed 8% after the discount retailer lifted its full-year outlook and reported better-than-expected fiscal Q1 results.Imax (IMAX) shares jumped past 14% after The Wall Street Journal reported the company is exploring a sale and has approached entertainment companies as potential buyers.Estee Lauder (EL) shares rose nearly 12% after the cosmetics company and Puig said late Thursday they have ended discussions over a potential merger.Uber (UBER) is evaluating options for a complete buyout of Delivery Hero, Bloomberg reported. Uber shares were down 2.4%.

$EL$IMAX$ROST$UBER
Sectors

Sector Update: Consumer Stocks Rise in Afternoon Trading

Consumer stocks advanced Friday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) increasing 0.1% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) adding 0.9%.In sector news, US consumer sentiment declined to a fresh record low in May as people fear that high gasoline prices could erode their purchasing power, University of Michigan said Friday. The main sentiment index tumbled 10% to 44.8 from last month. The consensus in a Bloomberg-compiled poll was for May's print to stay unchanged from a preliminary 48.2 estimate.In corporate news, Ross Stores (ROST) shares climbed past 6% after the discount retailer lifted its full-year outlook and reported better-than-expected fiscal Q1 results.Imax (IMAX) shares jumped 15% after The Wall Street Journal reported the company is exploring a sale and has approached entertainment companies as potential buyers.Estee Lauder (EL) shares rose 9% after the cosmetics company and Puig said late Thursday they have ended discussions over a potential merger.

$EL$IMAX$ROST
Wire

Imax's Potential Acquirers Include Private Equity Firms, Netflix, Apple, Sony, Wedbush Says

Imax (IMAX) is an "attractive" asset, and its most likely acquirers include private equity firms, Netflix (NFLX), Apple (AAPL), and Sony (SONY), Wedbush said in a Friday note.Imax is exploring a sale and has approached entertainment companies as potential buyers, the Wall Street Journal reported Thursday.At around $2 billion in enterprise value, Imax is trading below its standalone value and at a deeper discount as a potential acquisition target, the analysts said. They cited the company's well-known global brand, asset-light licensing model, and structurally expanding earnings profile.Private equity would be interested in Imax's free cash flow generation, minimal capital expenditure requirements relative to revenue, and a clear path to operational optimization. Ownership of Imax would also avoid any platform-conflict issue, the analysts said.Netflix ownership would not hamper rival studio access to the format as its content calendar is thin enough that purchasing Imax would not foreclose rival studio access to the format, according to the note.Netflix and Apple would also benefit from Imax becoming a powerful tool to woo major filmmakers, according to the note.Wedbush's rating on the company's stock is outperform with a price target of $46.Price: $38.77, Change: $+4.89, Percent Change: +14.43%

$AAPL$IMAX$NFLX$SONY
Sectors

Sector Update: Consumer Stocks Mixed Late Afternoon

Consumer stocks were mixed late Monday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) rising 1.4% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) shedding 0.5%.In corporate news, Imax (IMAX) seems on track to hit $1.4 billion in global box office collections this year despite a series of headwinds, including certain film delays, B. Riley Securities said in a note. Imax shares were up almost 2%.Ryanair (RYAAY) said it has contingency plans for an "armageddon" jet fuel scenario and warned weaker European carriers may not survive if high fuel prices persist, CNBC reported Monday. Its shares rose 5%.Lululemon Athletica (LULU) sent a letter to shareholders on Monday saying that activist and founder Chip Wilson has "outdated perspectives" and "troubling conflicts of interest," which will derail the company's turnaround plan, CNBC reported. Lululemon shares increased 0.9%.Home Depot (HD) and Lowe's (LOW) are likely to lower their full-year guidance as the home improvement retailers face pressure from weak consumer sentiment, Oppenheimer said in a report. Home Depot shares were up 0.8%, and Lowe's was little changed.

$HD$IMAX$LOW$LULU$RYAAY
Sectors

Sector Update: Consumer

Consumer stocks were mixed late Monday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) rising 1.4% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) shedding 0.5%.In corporate news, Imax (IMAX) seems on track to hit $1.4 billion in global box office collections this year despite a series of headwinds, including certain film delays, B. Riley Securities said in a note emailed Monday. Imax shares were up 2%.

$IMAX
IMAX on Track to Reach $1.4 Billion in Box Office Proceeds Despite Headwinds, B. Riley Says
US Markets

IMAX on Track to Reach $1.4 Billion in Box Office Proceeds Despite Headwinds, B. Riley Says

IMAX (IMAX) seems on track to hit $1.4 billion in global box office collections this year despite a series of headwinds, including certain film delays, B. Riley Securities said in a note emailed Monday.IMAX's shares lost 9% year to date through Friday, and have lost 22% from a late-February high, B. Riley Managing Director Drew Crum wrote.The release schedule of local-language films "Peng Hu" and "Once Upon a Time in the Middle East" shifted from Chinese New Year to the summer, according to the research note. The delay is expected to reduce the two movies' contribution to $20 million from $30 million previously projected, Crum said.Meanwhile, Netflix's (NFLX) "Narnia: The Magician's Nephew" got pushed to February next year, and will now no longer be an IMAX exclusive, according to B. Riley. Additional setbacks include CEO Richard Gelfond's medical leave that ended in May.Late last month, IMAX affirmed its 2026 guidance, including $1.4 billion in global box office proceeds."While the margin for error has narrowed, we still see a path to a ($1.4 billion) global box office, a key piece to the company's 2026 guidance," Crum said. "We believe progress towards achieving this financial goal should be evident in the current quarter and (second half), thereby helping to improve investor sentiment and supporting higher share prices going forward."The brokerage pointed to outperformance of second-quarter films "Project Hail Mary" and "Michael" and a potential upside for local-language content among factors driving optimism for 2026.B. Riley estimates annual revenue growth at 8% and 9% in 2026 and 2027, to $444.5 million and $485 million, respectively. Analysts in a FactSet poll expect $442.6 million this year and $472.7 million in 2027.The brokerage maintained its buy rating on IMAX's stock, with a $46 price target.Price: $34.47, Change: $+0.88, Percent Change: +2.60%

$IMAX$NFLX
Wire

IMAX is Poised to Surpass 50% EBITDA Margins by 2028 on Rise in Filmed-for-IMAX Titles, Wedbush Says

IMAX (IMAX) is poised to surpass 50% earnings before interest, taxes, depreciation and amortization margins by 2028 as the company continues to benefit from an uptick in volume and quality for filmed-for-IMAX titles in 2026 through 2028, Wedbush said in a Friday note.Wedbush said IMAX remains on its "Best Ideas List" and that the company sees further upside from global footprint expansion, higher volume of alternative content to boost revenue and its global box office increasingly relying on a mix of local language and global fare.The 2026 to 2027 "global film slate underscores IMAX's growing prominence in Hollywood and worldwide as an essential partner for major theatrical releases across genres, languages, and geographies," according to the note.Wedbush reiterated its outperform rating with a $46 price target.Price: $35.35, Change: $-2.68, Percent Change: -7.04%

$IMAX
Wire

IMAX, HOYTS Cinemas Expand Partnership With 10 New IMAX With Laser Locations

IMAX (IMAX) said Wednesday it entered into an agreement with HOYTS Cinemas for ten new IMAX with Laser locations across Australia and New Zealand.IMAX's footprint with HOYTS will grow from four locations currently to fourteen in the coming years.At least three new locations are expected to open before the end of 2026, with additional locations planned throughout 2027 and 2028, according to the company.Price: $36.49, Change: $-0.48, Percent Change: -1.30%

$IMAX
Wire

IMAX's Global Film Slate Likely to Support 'Robust' 2026, Wedbush Says

IMAX (IMAX) will likely benefit from an increase in the volume and quality of filmed-for-IMAX movies in 2026 through 2028, which should boost its market share, Wedbush said in a note Thursday.Meanwhile, the company will also see benefits from a worldwide box office that increasingly mixes local-language and global films, while it is also seeing a greater volume of alternative content to support revenue, and is increasing its global footprint, the note said.The positive factors are likely to help IMAX move beyond 50% earnings before interest, taxes, depreciation, and amortization, or EBITDA, margins by 2028, Wedbush said.This year and next year's "global film slate underscores IMAX's growing prominence in Hollywood and worldwide as an essential partner for major theatrical releases across genres, languages, and geographies," the investment firm said.IMAX is scheduled to report its Q1 financial results on April 30.Wedbush reiterated IMAX's outperform rating and $46 price target.Price: $36.18, Change: $-0.04, Percent Change: -0.11%

$IMAX
US Markets

B. Riley Upgrades 2026 Box Office Outlook Following First-Quarter Beat

US box office revenue this year is set to come in higher than previously projected following a better-than-expected first quarter, B. Riley Securities said Friday.The industry raked in box office proceeds of about $1.74 billion in the first three months of the year, jumping 22% year over year and ahead of the brokerage's $1.59 billion view. The performance reflected a 14% increase in January, a "flattish" February and "healthy" gains in March, which benefited from the commercial success of the Amazon (AMZN) MGM-distributed film "Project Hail Mary," B. Riley said.Paramount Skydance's (PSKY) "Scream 7," Walt Disney's (DIS) "Hoppers" and Warner Bros. Discovery's (WBD) "Wuthering Heights" also contributed to the first-quarter outperformance, B. Riley analyst Drew Crum said in a note to clients.The brokerage now estimates domestic box office collections of $9.55 billion for 2026, up from its previous expectations of $9.40 billion, with the outperformance in the first quarter "serving as the key driver to this upward adjustment."The first-quarter domestic box office provided "some needed confidence following a shaky (second half of 2025), while this momentum has continued into early (second quarter)," Crum said.B. Riley reiterated its US box office revenue estimate of $2.70 billion for the current three-month period, reflecting an annual increase of 1%. For the third and fourth quarters, the brokerage is expecting proceeds of $2.70 billion and $2.40 billion, respectively."Improving box office trends could lead to quarterly beats, upward revisions to estimates, and hence multiple expansion," Crum said. "General optimism for the 2026-2027 slate, further progress on windowing, and encouraging developments regarding labor negotiations for Hollywood guilds, may help sentiment too."The brokerage raised its price targets on the stocks of AMC Entertainment (AMC) to $2 from $1.50 and on Cinemark (CNK) to $34 from $30, with neutral ratings. It continues to have a buy rating on Imax (IMAX) shares.Price: $1.90, Change: $+0.29, Percent Change: +17.70%

$AMC$AMZN$CNK$DIS$IMAX$PSKY$WBD

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