Barrington Research Maintains Outperform Rating on IMAX (IMAX)

February 25, 2013 3:21 PM EST
Get Alerts IMAX Hot Sheet
Price: $33.00 +0.46%

Rating Summary:
    13 Buy, 5 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
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Barrington Research today reiterated a Buy rating on IMAX Corporation (NYSE: IMAX) and trimmed its price target to $36 from $37. Last week IMAX Corp. reported Q4 EPS of $0.23, $0.07 better than the analyst estimate of $0.16. Revenue for the quarter came in at $77.8 million versus the consensus estimate of $74 million.

Commenting on the news, analyst James C. Goss said, "Our $36 target price is aggressive, but is based on a 20x EV/EBITDA multiple reflecting our expectation that roughly 20% annual gains in screen count will be further supplemented by margin upside for the reasons we have outlined. A shift in the shareholder base to longer-term investors focused on the business model development rather than film by film successes should be attractive to an increasing number of investors."

For an analyst ratings summary and ratings history on IMAX Corporation (NYSE: IMAX) click here. For more ratings news on IMAX Corporation click here.

Shares of IMAX Corporation closed at $26.02 yesterday.

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