NEW YORK (TheStreet) -- IMAX Corp. (IMAX) - Get Report announced that "Star Wars: The Force Awakens" has made $106 million in sales at the theater system company's locations since it was released 12 days ago, making it the fastest film to reach $100 million in IMAX box-office sales.
The previous record was held by "Jurassic World," which hit the milestone 18 days after it was released, including China sales. "Star Wars," produced by Walt Disney Co.(DIS), will be released in China on January 9.
"Star Wars: The Force Awakens" generated $27.2 million at 673 IMAX locations during its second weekend, with $18.6 million in domestic sales and $8.6 million in international sales.
The film has been breaking records since its first weekend, when it grossed $48 million at IMAX theaters worldwide.
"Star Wars: The Force Awakens" has made more than $1 billion in total sales since its release, Barron's reports. Sales could double before the film is removed from theaters.
IMAX stock closed down 0.14% to $36.04 on Monday as investors show concerns over Disney's high share of box office sales, Barron's added, citing analysts from B. Riley.
Shares of IMAX have declined 7.7% since the latest "Star Wars" installment was released, but the company still has the "most attractive licensing model" among the movie exhibitors group, B. Riley analysts added, according to Barron's.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author. TheStreet Ratings has this to say about the recommendation:
We rate IMAX CORP as a Buy with a ratings score of B. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, compelling growth in net income and solid stock price performance. We feel its strengths outweigh the fact that the company shows weak operating cash flow.
Highlights from the analysis by TheStreet Ratings Team goes as follows:
- The revenue growth greatly exceeded the industry average of 6.0%. Since the same quarter one year prior, revenues rose by 40.1%. This growth in revenue appears to have trickled down to the company's bottom line, improving the earnings per share.
- IMAX's debt-to-equity ratio is very low at 0.05 and is currently below that of the industry average, implying that there has been very successful management of debt levels.
- The return on equity has improved slightly when compared to the same quarter one year prior. This can be construed as a modest strength in the organization. In comparison to the other companies in the Media industry and the overall market, IMAX CORP's return on equity significantly exceeds that of the industry average and is above that of the S&P 500.
- The net income growth from the same quarter one year ago has significantly exceeded that of the S&P 500 and the Media industry. The net income increased by 77.2% when compared to the same quarter one year prior, rising from $4.86 million to $8.61 million.
- Looking at where the stock is today compared to one year ago, we find that it is not only higher, but it has also clearly outperformed the rise in the S&P 500 over the same period. Although other factors naturally played a role, the company's strong earnings growth was key. Looking ahead, the stock's rise over the last year has already helped drive it to a level which is relatively expensive compared to the rest of its industry. We feel, however, that the other strengths this company displays justify these higher price levels.
- You can view the full analysis from the report here: IMAX