B.Riley FBR Sticks to Its Buy Rating for Reading International Inc (RDI)

In a report released today, Eric Wold from B.Riley FBR reiterated a Buy rating on Reading International Inc (RDIResearch Report), with a price target of $23.50. The company’s shares opened today at $16.21.

Wold said:

“On Monday morning (3/18), Reading International (RDI) reported 4Q18 results that came in above consensus expectations for total revenues and adjusted EBITDA—as U.S. cinema segment strength helped to offset some slight weakness in the real estate segment vs. our estimates. As the main investor focus around this story (and the reason why, we believe, shares trade below fair value), we were encouraged that management noted progress in Union Square lease negotiations and that tenant improvements could begin in 2Q19.”

According to TipRanks.com, Wold ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -4.7% and a 38.5% success rate. Wold covers the Services sector, focusing on stocks such as Cinemark Holdings Inc, National Cinemedia, and AMC Entertainment.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Reading International Inc.

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Reading International Inc’s market cap is currently $371.7M and has a P/E ratio of 22.25. The company has a Price to Book ratio of 2.12.

Based on the recent corporate insider activity of 11 insiders, corporate insider sentiment is negative on the stock.

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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.