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IMAX to Simultaneously Release Studio Ghibli's How Do You Live?
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IMAX (IMAX - Free Report) is set to showcase the simultaneous release of Hayao Miyazaki's latest film, How Do You Live?, when it opens in Japan on Jul 14. This marks the first time for a Studio Ghibli film to receive a simultaneous IMAX release. Additionally, the film will be showcased in Dolby Atmos, Dolby Cinema and DTS:X.
The upcoming film directed by Hayao Miyazaki, tentatively titled as How Do You Live?, will not have any trailers, TV spots or newspaper ads prior to its release. Miyazaki himself is credited with the original work, direction and scriptwriting for the film. Currently, the studio has not disclosed a plot summary, voice cast or most of the film's characters. Miyazaki drew inspiration for the film from Genzabur?? Yoshino's 1937 novel, How Do You Live?, which holds significant meaning for the protagonist of his film.
Miyazaki made an official announcement about the film in 2017. In April 2017, Studio Ghibli’s producer, Toshio Suzuki, stated that Miyazaki had been working on storyboards for the project since July 2016.
IMAX's revenues are projected to increase with the arrival of major films, such as Oppenheimer, Mission: Impossible - Dead Reckoning Part One and Gran Turismo. These highly anticipated movies are likely to attract audiences to theaters and contribute to IMAX's overall revenue growth.
Christopher McQuarrie wrote, produced and directed the seventh installment of the highly popular Mission Impossible franchise. The film features a star-studded cast, including Tom Cruise, Ving Rhames, Simon Pegg, Rebecca Ferguson, Vanessa Kirby, Hayley Atwell and Shea Whigham.
The film Oppenheimer, directed and written by Christopher Nolan, is based on the Pulitzer Prize-winning book American Prometheus: The Triumph and Tragedy of J. Robert Oppenheimer by Kai Bird and Martin J. Sherwin. Cillian Murphy portrays the role of J. Robert Oppenheimer in the movie, which was filmed using IMAX cameras.
Gran Turismo, the video game adaptation directed by Neill Blomkamp, brings to life the true story of Jann Mardenborough. This compelling film depicts the remarkable journey of a teenage player who, through his exceptional gaming skills, triumphs in a series of Nissan competitions and transforms into a professional race car driver.
The company expects to record $1.1 billion in the global box office for the year 2023. It also expects adjusted EBITDA margin in the mid-30s range.
The Zacks Consensus Estimate for IMAX’s second-quarter 2023 earnings is pegged at a profit of 20 cents per share, indicating year-over-year growth of 185.71%. The consensus estimate for 2023 revenues is pegged at $374.05 million, indicating a year-over-year increase of 24.35%.
Zacks Rank & Key Picks
Currently, IMAX carries a Zacks Rank #3 (Hold)
Shares of IMAX have gained 13.4% year to date compared with the Zacks Consumer Discretionary sector’s increase of 10.7% in the same time frame.
Shares of Cinemark have rallied 80.5% year to date. The Zacks Consensus Estimate for CNK’s 2023 revenues is pegged at $2.92 billion, indicating a year-over-year increase of 19.08%. The consensus mark for earnings is pegged at 52 cents per share, which has remained unchanged over the past 30 days.
Shares of Nexstar have declined 2.7% year to date. The Zacks Consensus Estimate for NXST’s 2023 revenues is pegged at $5.11 billion, indicating a year-over-year decline of 2.02%. The consensus mark for earnings is pegged at $2.88 per share, which has increased by 14 cents over the past 30 days.
Shares of DraftKings have soared 134% year to date. The Zacks Consensus Estimate for DKNG’s 2023 revenues is pegged at $3.22 billion, indicating year-over-year growth of 43.56%. The consensus mark is pegged at a loss of 29 cents per share, which has remained unchanged over the past 30 days.
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IMAX to Simultaneously Release Studio Ghibli's How Do You Live?
IMAX (IMAX - Free Report) is set to showcase the simultaneous release of Hayao Miyazaki's latest film, How Do You Live?, when it opens in Japan on Jul 14. This marks the first time for a Studio Ghibli film to receive a simultaneous IMAX release. Additionally, the film will be showcased in Dolby Atmos, Dolby Cinema and DTS:X.
The upcoming film directed by Hayao Miyazaki, tentatively titled as How Do You Live?, will not have any trailers, TV spots or newspaper ads prior to its release. Miyazaki himself is credited with the original work, direction and scriptwriting for the film. Currently, the studio has not disclosed a plot summary, voice cast or most of the film's characters. Miyazaki drew inspiration for the film from Genzabur?? Yoshino's 1937 novel, How Do You Live?, which holds significant meaning for the protagonist of his film.
Miyazaki made an official announcement about the film in 2017. In April 2017, Studio Ghibli’s producer, Toshio Suzuki, stated that Miyazaki had been working on storyboards for the project since July 2016.
IMAX Corporation Price and Consensus
IMAX Corporation price-consensus-chart | IMAX Corporation Quote
Upcoming Movies to Aid IMAX’s Top Line
IMAX's revenues are projected to increase with the arrival of major films, such as Oppenheimer, Mission: Impossible - Dead Reckoning Part One and Gran Turismo. These highly anticipated movies are likely to attract audiences to theaters and contribute to IMAX's overall revenue growth.
Christopher McQuarrie wrote, produced and directed the seventh installment of the highly popular Mission Impossible franchise. The film features a star-studded cast, including Tom Cruise, Ving Rhames, Simon Pegg, Rebecca Ferguson, Vanessa Kirby, Hayley Atwell and Shea Whigham.
The film Oppenheimer, directed and written by Christopher Nolan, is based on the Pulitzer Prize-winning book American Prometheus: The Triumph and Tragedy of J. Robert Oppenheimer by Kai Bird and Martin J. Sherwin. Cillian Murphy portrays the role of J. Robert Oppenheimer in the movie, which was filmed using IMAX cameras.
Gran Turismo, the video game adaptation directed by Neill Blomkamp, brings to life the true story of Jann Mardenborough. This compelling film depicts the remarkable journey of a teenage player who, through his exceptional gaming skills, triumphs in a series of Nissan competitions and transforms into a professional race car driver.
The company expects to record $1.1 billion in the global box office for the year 2023. It also expects adjusted EBITDA margin in the mid-30s range.
The Zacks Consensus Estimate for IMAX’s second-quarter 2023 earnings is pegged at a profit of 20 cents per share, indicating year-over-year growth of 185.71%. The consensus estimate for 2023 revenues is pegged at $374.05 million, indicating a year-over-year increase of 24.35%.
Zacks Rank & Key Picks
Currently, IMAX carries a Zacks Rank #3 (Hold)
Shares of IMAX have gained 13.4% year to date compared with the Zacks Consumer Discretionary sector’s increase of 10.7% in the same time frame.
Cinemark (CNK - Free Report) , Nexstar Media Group (NXST - Free Report) and DraftKings (DKNG - Free Report) are some better-ranked stocks from the broader sector which investors can consider. Currently, CNK and NXST sport a Zacks Rank #1 (Strong Buy) and DKNG carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Shares of Cinemark have rallied 80.5% year to date. The Zacks Consensus Estimate for CNK’s 2023 revenues is pegged at $2.92 billion, indicating a year-over-year increase of 19.08%. The consensus mark for earnings is pegged at 52 cents per share, which has remained unchanged over the past 30 days.
Shares of Nexstar have declined 2.7% year to date. The Zacks Consensus Estimate for NXST’s 2023 revenues is pegged at $5.11 billion, indicating a year-over-year decline of 2.02%. The consensus mark for earnings is pegged at $2.88 per share, which has increased by 14 cents over the past 30 days.
Shares of DraftKings have soared 134% year to date. The Zacks Consensus Estimate for DKNG’s 2023 revenues is pegged at $3.22 billion, indicating year-over-year growth of 43.56%. The consensus mark is pegged at a loss of 29 cents per share, which has remained unchanged over the past 30 days.