“Before the open on Friday, 3/16/2018, Reading International (RDI) reported 4Q17 results and then posted its pre-recorded conference call to its website on Wednesday, 3/21. The company’s 4Q17 results were mixed compared to our estimates with a shortfall in revenues (driven by weak industry box office results) and better-than-expected adjusted EBITDA (due to higher add- backs from legal expenses). We continue to believe that performance of its RDI shares in the near term will be driven less by Cinema or Real Estate segment operating results and more so by any changes in the outlook for its various development projects. And, with that in mind, we came away from the results and management commentary somewhat less optimistic around near-term valuation contributions from those development projects.”
According to TipRanks.com, Wold is a 4-star analyst with an average return of 5.6% and a 52.2% 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.
Based on Reading International Inc’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $71.78 million and quarterly net profit of $7.38 million. In comparison, last year the company earned revenue of $67.45 million and had a net profit of $352K.
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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.