Imax Analysts Increase Their Forecasts After Q2 Results

Financial Performance - IMAX Corporation reported quarterly earnings of 26 cents per share, exceeding the analyst consensus estimate of 21 cents per share [1] - Quarterly sales were reported at $91.68 million, which fell short of the analyst consensus estimate of $92.51 million [1] Business Drivers - The CEO of IMAX highlighted strong network growth, record box office performance in North America, and significant market share gains due to an increase in releases filmed with IMAX technology [2] - A total of 57 IMAX locations were opened worldwide, indicating robust network expansion [2] - System sales are reportedly pacing well ahead of 2024, suggesting positive momentum for the company [2] Stock Performance and Analyst Ratings - Following the earnings announcement, IMAX shares increased by 1% to $28.57 [2] - Rosenblatt analyst Steve Frankel maintained a Buy rating on IMAX and raised the price target from $35 to $37 [5] - Benchmark analyst Mike Hickey also maintained a Buy rating and increased the price target from $30 to $32 [5]