IMAX Corporation (USA) (NYSE:IMAX) currently trades at $31.60 which is about -3.07% lower than the 52-week high of $35.30. The trading volume at ready counter moved to 764,469.00 shares as compared to 613,622.00 shares average traded volume. The stock failed to get pushed above the $32.95 barrier, the intraday high, after opening at $32.20. Analysts have a consensus target price of $38.81 in the 12-month period. Its market capitalization has now reached to $2.12B.
IMAX Corporation (USA) (NYSE:IMAX) was dropped to Underweight from Equal Weight at Barclays. It has earned a consensus Strong buy rating, according to Zacks Investment Research. No analyst has rated the stock with a sell rating, 1 has assigned a hold rating, 1 says it’s a buy and 8 have assigned a strong buy rating to the company.
IMAX Corporation (USA) (IMAX) on January 31, 2017 announced that Stephen Chow and Tsui Hark’s 3D fantasy-adventure sequel Journey to the West: The Demons Strike Back blasted into the Chinese market on Saturday, January 28 – the first day of the Chinese New Year – with a three-day opening weekend gross of $8.6 million from 390 IMAX® theatres, making it the largest three-day IMAX opening for a local-language film ever. This includes a record-setting opening-day gross of $4.5 million – the best-ever single-day gross for a Chinese local-language film in IMAX, as well as the Company’s highest Chinese New Year opening day.
Overall, IMAX represented a stellar 17 of the top 20-grossing theatres in China for Journey to the West: The Demons Strike Back, including all of the film’s top five locations.
“We’d like to congratulate our friends and partners Stephen Chow and Tsui Hark on this record-breaking achievement,” said Greg Foster, CEO of IMAX Entertainment and Senior Executive Vice President, IMAX Corp. “Not only is this a fantastic kick-off to the Chinese New Year holiday play period, but also an incredible start to a year slated with a diverse line-up of both local-language and Hollywood films. With Journey to the West, it’s clear that the combination of fun and thrilling entertainment as seen in the best possible format – IMAX – continues to be a powerful force at the box office, and we look forward to the film’s enduring overall success throughout the CNY holiday and beyond.”
The IMAX 3D release of Journey to the West: The Demons Strike Back was digitally re-mastered into the image and sound quality of The IMAX Experience with proprietary IMAX DMR (Digital Re-mastering) technology. The crystal-clear images, coupled with IMAX’s customized theatre geometry and powerful digital audio, create a unique environment that will make audiences feel as if they are in the movie.