Wedbush Sees Q1 Results Below Expectations for IMAX Corporation

In a report published Friday, Wedbush analyst Michael Pachter reiterated a Neutral rating and $28.00 price target on

. In the report, Wedbush noted, “Lower-than-expected revenues from sales-type lease installations and JV revenue sharing arrangements drove revenue and EPS below our expectations. Revenue was $48 million, compared with our estimate of $55 million, and consensus of $50 million. Adjusted EPS was $0.05 (excluding a $0.04/share charge for stock-based compensation), compared with our estimate of $0.09, and consensus of $0.06. EPS was below our expectations due to lower-than-expected installations and negative operating leverage.” IMAX Corporation closed on Friday at $27.09.