Shares of entertainment technology company, Imax Corp. (Nasdaq: IMAX) rose after positive comments from Merriman Curhan Ford analyst, Eric Wold.
Wold reiterated his “Buy” rating and increased his Q2 estimates for Imax, stating that the “Transformers” movie generated about $18.3 million in its first five days playing on the company’s large screens. Wold initially expected Imax’s Q2 box office results to total $59 million, but raised his estimate to $75 million due largely to the success of “Transformers.”
“In addition, the movie could help drive upside to 3Q box office expectations,” he said.
Wold now believes Imax will report Q2 earnings of 4 cents per share on revenue of $38.2 million, compared with his earlier estimate of EPS of a penny on revenue of $35.7 million.
Shares of Imax Corp. are up almost 8 percent since January.
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