Shares of Reading International Inc (NASDAQ:RDI) have been given a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the company, Zacks Investment Research reports. One analyst has rated the stock with a strong buy rating.
Brokerages have set a 12 month consensus price target of $26.50 for the company and are expecting that the company will post $0.16 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Reading International an industry rank of 64 out of 265 based on the ratings given to related companies.
RDI has been the topic of several recent analyst reports. Zacks Investment Research raised shares of Reading International from a “hold” rating to a “buy” rating and set a $18.00 price target on the stock in a report on Tuesday, March 21st. TheStreet cut shares of Reading International from a “b” rating to a “c+” rating in a report on Monday, March 13th. Finally, B. Riley reissued a “buy” rating and set a $26.00 target price on shares of Reading International in a report on Saturday, March 11th.
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Reading International (RDI) opened at 15.73 on Tuesday. The company has a 50 day moving average of $15.84 and a 200-day moving average of $15.95. Reading International has a 52-week low of $11.88 and a 52-week high of $17.18. The stock has a market capitalization of $364.67 million, a P/E ratio of 35.91 and a beta of 1.25.
Reading International (NASDAQ:RDI) last posted its quarterly earnings results on Tuesday, May 9th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.02. The firm had revenue of $69.45 million for the quarter, compared to analysts’ expectations of $71.80 million. Reading International had a net margin of 3.71% and a return on equity of 7.69%. Equities research analysts anticipate that Reading International will post $0.61 EPS for the current year.
In other Reading International news, insider James J. Cotter, Jr. sold 5,112 shares of the stock in a transaction on Friday, June 23rd. The shares were sold at an average price of $15.51, for a total transaction of $79,287.12. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 26.75% of the stock is currently owned by corporate insiders.
Hedge funds have recently modified their holdings of the company. State Street Corp boosted its stake in shares of Reading International by 7.3% in the fourth quarter. State Street Corp now owns 243,657 shares of the company’s stock worth $4,044,000 after buying an additional 16,540 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Reading International by 4.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 834,675 shares of the company’s stock worth $13,856,000 after buying an additional 33,140 shares during the period. Gamco Investors INC. ET AL boosted its stake in shares of Reading International by 2.5% in the fourth quarter. Gamco Investors INC. ET AL now owns 40,350 shares of the company’s stock worth $670,000 after buying an additional 1,000 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Reading International by 7.2% in the fourth quarter. Renaissance Technologies LLC now owns 1,094,400 shares of the company’s stock worth $18,167,000 after buying an additional 73,300 shares during the period. Finally, Eidelman Virant Capital boosted its stake in shares of Reading International by 1.0% in the first quarter. Eidelman Virant Capital now owns 290,800 shares of the company’s stock worth $4,519,000 after buying an additional 3,000 shares during the period. 31.55% of the stock is currently owned by institutional investors.
About Reading International
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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