In a report released today, Eric Wold from B.Riley FBR maintained a Buy rating on Reading International Inc (NASDAQ: RDI), with a price target of $23.50. The company’s shares closed yesterday at $16.02.
Wold commented:
“On Thursday evening (8/9), Reading International (RDI) reported 2Q18 results that came in ahead of our estimate for adjusted EBITDA even with some shortfall around total revenues. The company then posted a pre-recorded conference call and Q&A session late in the evening on Monday, 8/13. Square property begins contributing in 2019, the company’s quarterly results will continue to be driven by the Cinema segment—with RDI experiencing solid domestic cinema outperformance relative to the industry on the heels of the continued theater enhancement strategy.”
According to TipRanks.com, Wold is a 5-star analyst with an average return of 9.9% and a 60.9% success rate. Wold covers the Services sector, focusing on stocks such as Cinemark Holdings Inc, National Cinemedia, and AMC Entertainment.
Reading International Inc has an analyst consensus of Moderate Buy, with a price target consensus of $23.50.
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Reading International Inc’s market cap is currently $368.3M and has a P/E ratio of 21.65. The company has a Price to Book ratio of 2.08.
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Reading International, Inc. is an entertainment and real estate company, which engages in the development, ownership, and operation of multiplex cinemas and retail and commercial real estate in the United States, Australia, and New Zealand. It operates through the following segments: Cinema Exhibition and Real Estate.
