IMAX Corporation (NYSE:IMAX) has recently announced a sales agreement with Supercines, the largest movie chain in Ecuador. The deal is to install five new IMAX theatres across the South American country of which, three are to be located in Guayaquil while the other two in Ambato and Machala, respectively.
Following this deal, Supercines totals seven IMAX theatres across Ecuador with the existing ones at Guayaquil and Quito.
The company has been inking multiple deals of late to expand its global presence. This new contract will support its expansion efforts in Latin America.
Last December, the company signed a multi-picture deal with Twentieth Century Fox Film, a division of 21st Century Fox. By the dint of this agreement, partnership is extended between the companies through 2019. It covers flicks like Kingsman: The Golden Circle, released in September 2017, The Darkest Minds as well as Marvel movies namely The New Mutants, X-Men: Dark Phoenix and Gambit. All films will be digitally re-mastered into the immersive IMAX format and released at IMAX halls.
In August 2017, the company had entered into an agreement with Cineplex to install two IMAX auditoriums and the first IMAX VR Centre in Canada.
Zacks Rank & Key Picks
IMAX carries a Zacks Rank #4 (Sell).
Some better-ranked stocks in the broader Consumer Discretionary sector are Churchill Downs, Incorporated (NASDAQ:CHDN) , Caleres, Inc. (NYSE:CAL) and Crocs, Inc. (NASDAQ:CROX) . While Churchill Downs sports a Zacks Rank #1 (Strong Buy), Caleres and Crocs carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Shares of Churchill Downs, Caleres and Crocs have gained more than 20%, 5% and 33%, respectively, in the last three months.
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