Reading International, Inc. (RDI) Receives “Buy” Rating from B. Riley
Reading International, Inc. (NASDAQ:RDI)‘s stock had its “buy” rating reaffirmed by B. Riley in a research report issued on Saturday. They presently have a $26.50 target price on the stock. B. Riley’s price target suggests a potential upside of 68.15% from the stock’s current price.
Several other equities research analysts also recently commented on RDI. TheStreet downgraded Reading International from a “b” rating to a “c+” rating in a report on Monday, March 13th. Zacks Investment Research raised Reading International from a “hold” rating to a “buy” rating and set a $18.00 target price for the company in a report on Tuesday, March 21st.
Reading International (NASDAQ:RDI) traded up 0.77% during mid-day trading on Friday, reaching $15.76. The company had a trading volume of 44,771 shares. The firm has a market capitalization of $365.36 million, a P/E ratio of 35.98 and a beta of 0.95. The stock’s 50-day moving average is $15.17 and its 200 day moving average is $15.65. Reading International has a 12 month low of $11.88 and a 12 month high of $17.18.
Reading International (NASDAQ:RDI) last announced its earnings results on Tuesday, May 9th. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.11 by $0.02. Reading International had a return on equity of 8.41% and a net margin of 4.58%. The business had revenue of $69.45 million during the quarter, compared to the consensus estimate of $71.80 million. On average, analysts predict that Reading International will post $0.62 earnings per share for the current fiscal year.
Large investors have recently made changes to their positions in the stock. SG Americas Securities LLC acquired a new position in Reading International during the first quarter valued at $103,000. American International Group Inc. raised its position in Reading International by 7.2% in the first quarter. American International Group Inc. now owns 10,368 shares of the company’s stock valued at $161,000 after buying an additional 695 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Reading International by 5.1% in the first quarter. Goldman Sachs Group Inc. now owns 10,725 shares of the company’s stock valued at $167,000 after buying an additional 521 shares during the last quarter. Gabelli Funds LLC acquired a new position in Reading International during the first quarter valued at $218,000. Finally, B. Riley Financial Inc. acquired a new position in Reading International during the third quarter valued at $233,000. 22.47% of the stock is owned by institutional investors and hedge funds.
Reading International Company Profile
Reading International, Inc (RDI) is engaged in the development, ownership and operation of multiplex cinemas in the United States, Australia, and New Zealand, and the development, ownership and operation of retail and commercial real estate in the United States, Australia and New Zealand. RDI operates through two segments: cinema exhibition and real estate.
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