“We are reiterating our Buy rating and PT of $26.50. Analyst certification and important disclosures can be found on pages 3 – 6 of this report. This document represents an abbreviated discussion of the subject issuer and should not be used as the sole basis for an investment decision. Contact your B. Riley FBR representative for complete research concerning the subject issuers, including research briefs and reports.Valuation Based on our SOTP analysis, we value the existing core Cinema and Real Estate operations at ~$20.00 per share (using 2018 EBITDA multiples of 8.5x U.S. Cinema operations, 10.0x Australia/NZ Cinema operations and 18.5x Real Estate operations excluding Union Square) with the ongoing development of Union Square worth an additional ~$6.50 per share for a PT of $26.50. However, should we assign value to the other potential development projects, we could see a valuation per share well north of $30.00.”
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Reading International Inc has an analyst consensus of Moderate Buy, with a price target consensus of $26.50.
The company has a one-year high of $17.43 and a one-year low of $14.37. Currently, Reading International Inc has an average volume of 51.92K.
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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.