Analyst Cites IMAX Enhanced as Growth Category but Lowers Share Projections Due to Virus
IMAX should be viewed through a lens of providing “enabling technology for premium entertainment experiences” vs. the spotlight of week-to-week box office volatility, wrote Dougherty & Co. analyst Steven Frankel in a Monday investor note. IMAX shares hit a 52-week…
Sign up for a free preview to unlock the rest of this article
Export Compliance Daily combines U.S. export control news, foreign border import regulation and policy developments into a single daily information service that reliably informs its trade professional readers about important current issues affecting their operations.
low Monday, dropping 4.2 percent to $17.21 amid overall market negative reaction to coronavirus fears. IMAX operated 639 theaters in Greater China at the end of 2018, with 272 more in backlog for installation by 2022. The region was 31 percent of the entertainment company’s revenue that year, said the 2019 annual report. Thursday, IMAX said it will postpone release of titles scheduled to open for the Chinese New Year amid travel restrictions by the Chinese government. Frankel highlighted the company’s widening portfolio of IMAX Enhanced licensing partners as a growth segment for the company. Dougherty lowered IMAX's Q4 reporting estimate to $27 from $30 but maintained a buy rating. Dolby, meanwhile, opened the 2,000th screen with Dolby Atmos in China in September, with China providing 17 percent of revenue. Dolby shares closed down 0.6 percent Monday at $68.84