Reading International Inc Receives a Buy 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 $16.12.

Wold commented:

“On Monday (4/23), we hosted an investor meeting with the management of Reading International (RDI)–Dev Ghose (CFO) and Andrzej Matyczynski (EVP , Global Operations)–at CinemaCon in Las Vegas. Given our optimism around the upcoming summer box office film slate ( Expect Less of a Box Office Tragedy This Summer and See Attractive Valuation Setup for the Exhibitor Group) and the associated benefits stemming from the company’s new theater openings and continued theater remodel program, we focused most of our questions on the real estate development plans and progress being made with each of those efforts.”

According to TipRanks.com, Wold is a 4-star analyst with an average return of 5.8% and a 54.0% 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.

Reading International Inc’s market cap is currently $369.7M and has a P/E ratio of 12.12. The company has a book value ratio of 2.0895.

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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.