Reading International Inc Gets a Buy Rating from B.Riley FBR

B.Riley FBR analyst Eric Wold reiterated a Buy rating on Reading International Inc (NASDAQ: RDI) today and set a price target of $23.50. The company’s shares closed yesterday at $15.73.

Wold commented:

“On Thursday evening, 5/10, Reading International (RDI) reported 1Q18 results that came in well ahead of our estimates for both total revenues and adjusted EBITDA. The company then posted a pre-recorded conference call and Q&A session on Monday, 5/14. Square property begins contributing in 2019, quarterly results will continue to be driven by the Cinema segment—and RDI experienced upside results across the board in all regions (with strong outperformance domestically and the benefit from a theater re-opening in New Zealand).”

According to TipRanks.com, Wold is a 4-star analyst with an average return of 7.8% and a 56.9% 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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The company has a one-year high of $17.50 and a one-year low of $14.37. Currently, Reading International Inc has an average volume of 43.67K.

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Reading International, Inc. engages in the development, ownership, and operation of real property assets. It operates through the Cinema Exhibition and Real Estate business segments. The Cinema Exhibition segment consists of multiplex theaters.