IMAX Corporation (USA) (IMAX) Shares Down Despite $100 Million in ‘Star Wars’ Revenue

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Shareholders of IMAX Corporation (USA) (NYSE:IMAX) seem to be ‘selling the news’ as the company has just reported that they’ve brought in in excess of $100 million in revenue thus far for the latest Disney film, ‘Star Wars: The Force Awakens’. IMAX Corporation (USA) (NYSE:IMAX) says that ‘Star Wars’ hit the $100 million milestone in just 12 days, shattering the record of 18 days held by Jurassic World. Over this last weekend the film brought in $18.6 million in 391 Imax theaters in the United States, and an additional $8.6 million in 282 Imax theaters throughout the rest of the world.

Shares began the day in the green, dropping to as low as $35.43 by 11 a.m. ET before slowly moving back up somewhat. The stock is down 0.39% or $0.14 following the news, hitting $35.95 per share. Approximately 206,082 shares traded hands. IMAX shares have declined 7.79% since May 22, 2015 and are currently downtrending. It has underperformed the S&P500 by 4.73%.

From a total of 7 analysts covering IMAX (NYSE:IMAX) stock, 6 rate it a “Buy”, 0 a “Sell”, and 1 a “Hold”. This means that 86% of the ratings are positive. The highest target price is $52 while the lowest target price is $39. The mean of all analyst targets is $44.83 which is 24.70% above today’s ($35.95) stock price. IMAX was the topic of 10 analyst reports since July 21, 2015 according to the firm StockzIntelligence Inc. Goldman Sachs maintained shares on November 20 with a “Neutral” rating. B. Riley & Co maintained IMAX stock in a recent report from October 20 with a “Buy” rating.

IMAX Corporation is an entertainment technology company. The company has a market cap of $2.50 billion. The Company, along with its wholly owned subsidiaries, is specialized motion picture technologies and presentations. It has 48.82 P/E ratio. The Firm operates through seven divisions: the IMAX systems, the theater system maintenance, the joint revenue sharing arrangements, film production and IMAX DMR, film distribution, film post-production and other.

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