Reading International (RDI) Issues Earnings Results, Misses Expectations By $0.17 EPS

Reading International (NASDAQ:RDI) issued its earnings results on Friday. The company reported ($0.09) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.08 by ($0.17), MarketWatch Earnings reports. The business had revenue of $61.55 million for the quarter, compared to the consensus estimate of $65.60 million. Reading International had a return on equity of 7.89% and a net margin of 4.62%.

Shares of NASDAQ:RDI opened at $14.65 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.37 and a quick ratio of 0.37. The company has a market capitalization of $335.78 million, a P/E ratio of 23.63 and a beta of 1.22. Reading International has a 52 week low of $13.91 and a 52 week high of $16.72.

In related news, insider Devasis Ghose sold 67,500 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $16.16, for a total value of $1,090,800.00. Following the completion of the sale, the insider now owns 7,500 shares in the company, valued at approximately $121,200. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Margaret Cotter sold 13,995 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $16.03, for a total transaction of $224,339.85. The disclosure for this sale can be found here. 25.66% of the stock is currently owned by corporate insiders.

A hedge fund recently raised its stake in Reading International stock. Geode Capital Management LLC grew its stake in Reading International, Inc. (NASDAQ:RDI) by 7.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 194,919 shares of the company’s stock after purchasing an additional 13,014 shares during the period. Geode Capital Management LLC owned about 0.85% of Reading International worth $2,834,000 as of its most recent SEC filing. 39.91% of the stock is owned by institutional investors.

RDI has been the subject of several research analyst reports. Zacks Investment Research upgraded shares of Reading International from a “hold” rating to a “buy” rating and set a $18.00 price target for the company in a research report on Thursday, February 7th. BidaskClub upgraded shares of Reading International from a “sell” rating to a “hold” rating in a research report on Wednesday, March 6th. Finally, Macquarie initiated coverage on shares of Reading International in a research report on Friday, February 8th. They issued an “outperform” rating and a $20.00 price target for the company. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $19.00.

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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, Cinema Exhibition and Real Estate. The Cinema Exhibition segment operates multiplex cinemas.

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Earnings History for Reading International (NASDAQ:RDI)

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