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 opened today at $15.65.

Wold commented:

“We continue to believe RDI shares meaningfully undervalue the growth opportunity within the Cinema segment as well as the real estate development properties and are reiterating our Buy rating and $23.50 PT.”

According to TipRanks.com, Wold is a 4-star analyst with an average return of 7.3% and a 55.5% 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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Based on Reading International Inc’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $7.38 million. In comparison, last year the company had a net profit of $3.03 million.

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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.