Reading International, Inc. (RDI) Given Average Rating of “Strong Buy” by Brokerages

Shares of Reading International, Inc. (NASDAQ:RDI) have earned an average broker rating score of 1.00 (Strong Buy) from the two analysts that cover the stock, Zacks Investment Research reports. Two equities research analysts have rated the stock with a strong buy recommendation.

Brokers have set a 12 month consensus target price of $28.25 for the company and are expecting that the company will post $0.11 EPS for the current quarter, according to Zacks. Zacks has also assigned Reading International an industry rank of 168 out of 257 based on the ratings given to related companies.

Several research analysts have recently issued reports on RDI shares. B. Riley reiterated a “buy” rating on shares of Reading International in a report on Tuesday, September 4th. BidaskClub upgraded shares of Reading International from a “strong sell” rating to a “sell” rating in a report on Saturday, September 29th. TheStreet cut shares of Reading International from a “b-” rating to a “c” rating in a report on Thursday, November 15th. Finally, Zacks Investment Research upgraded shares of Reading International from a “hold” rating to a “buy” rating and set a $18.00 price objective for the company in a report on Saturday, August 18th.

Reading International stock opened at $15.26 on Tuesday. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.89. The company has a market capitalization of $350.53 million, a PE ratio of 11.74 and a beta of 1.38. Reading International has a 12-month low of $13.91 and a 12-month high of $17.50.

Reading International (NASDAQ:RDI) last posted its quarterly earnings data on Wednesday, November 7th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.01. The business had revenue of $74.26 million during the quarter, compared to analysts’ expectations of $70.40 million. Reading International had a net margin of 5.46% and a return on equity of 6.57%. As a group, sell-side analysts anticipate that Reading International will post 0.51 EPS for the current fiscal year.

In other news, insider Margaret Cotter sold 3,500 shares of the stock in a transaction that occurred on Friday, September 21st. The shares were sold at an average price of $15.67, for a total value of $54,845.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 26.95% of the company’s stock.

A number of large investors have recently modified their holdings of RDI. UBS Group AG boosted its holdings in Reading International by 123.3% during the first quarter. UBS Group AG now owns 7,138 shares of the company’s stock worth $119,000 after buying an additional 3,942 shares in the last quarter. Bessemer Group Inc. bought a new stake in Reading International during the third quarter worth approximately $193,000. MetLife Investment Advisors LLC boosted its holdings in Reading International by 60.9% during the third quarter. MetLife Investment Advisors LLC now owns 13,679 shares of the company’s stock worth $216,000 after buying an additional 5,175 shares in the last quarter. PEAK6 Investments LLC bought a new stake in Reading International during the third quarter worth approximately $251,000. Finally, First Trust Advisors LP boosted its holdings in Reading International by 37.7% during the third quarter. First Trust Advisors LP now owns 24,922 shares of the company’s stock worth $394,000 after buying an additional 6,822 shares in the last quarter. Hedge funds and other institutional investors own 39.16% of the company’s stock.

About Reading International

Reading International, Inc engages in the ownership, development, and operation of entertainment and real property assets in the United States, Australia, and New Zealand. The company operates in two segments, Theatrical Motion Picture Exhibition (Cinema Exhibition) and Real Estate. The Cinema Exhibition segment operates multiplex cinemas.

Recommended Story: Benefits of owning preferred stock

Get a free copy of the Zacks research report on Reading International (RDI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Reading International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Reading International and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply