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

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

Brokerages have set a 12-month consensus price objective of $28.25 for the company and are expecting that the company will post $0.14 earnings per share for the current quarter, according to Zacks. Zacks has also given Reading International an industry rank of 188 out of 265 based on the ratings given to related companies.

A number of equities research analysts have recently issued reports on the stock. BidaskClub downgraded shares of Reading International from a “hold” rating to a “sell” rating in a research report on Friday, December 22nd. Gabelli assumed coverage on shares of Reading International in a research report on Friday, December 1st. They set a “buy” rating for the company. Finally, Zacks Investment Research downgraded shares of Reading International from a “hold” rating to a “sell” rating in a research report on Friday, November 17th.

Shares of Reading International (NASDAQ RDI) traded up $0.05 during trading hours on Thursday, reaching $15.79. 23,000 shares of the company were exchanged, compared to its average volume of 39,802. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.55 and a current ratio of 1.55. The firm has a market capitalization of $375.35, a P/E ratio of 15.48 and a beta of 1.30. Reading International has a 1 year low of $14.37 and a 1 year high of $17.06.

Reading International (NASDAQ:RDI) last announced its quarterly earnings data on Monday, November 6th. The company reported $0.07 EPS for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.04). The firm had revenue of $66.09 million during the quarter, compared to analyst estimates of $65.70 million. Reading International had a net margin of 8.70% and a return on equity of 8.16%. analysts predict that Reading International will post 1.15 earnings per share for the current fiscal year.

Institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. raised its position in shares of Reading International by 771.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 9,260 shares of the company’s stock worth $146,000 after purchasing an additional 8,197 shares during the last quarter. Alliancebernstein L.P. acquired a new position in shares of Reading International during the 2nd quarter worth approximately $165,000. Goldman Sachs Group Inc. raised its position in shares of Reading International by 5.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 10,725 shares of the company’s stock worth $167,000 after purchasing an additional 521 shares during the last quarter. Ausdal Financial Partners Inc. purchased a new stake in Reading International in the 3rd quarter worth approximately $173,000. Finally, Wells Fargo & Company MN grew its stake in Reading International by 2.6% in the 2nd quarter. Wells Fargo & Company MN now owns 12,258 shares of the company’s stock worth $198,000 after acquiring an additional 312 shares during the period. Hedge funds and other institutional investors own 35.17% of the company’s stock.

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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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