Wedbush Reiterates an 'Outperform' on Carmike Cinemas (CKEC); Adjusting Estimates on Tough Box Office Sales
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Price: $17.50 +1.45%
Rating Summary:
9 Buy, 1 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 21 | Down: 24 | New: 29
Rating Summary:
9 Buy, 1 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 21 | Down: 24 | New: 29
Trade CKEC Now!
Wedbush reiterates an 'Outperform' on Carmike Cinemas (NASDAQ: CKEC) price target of $19.00.
Analyst, Michael Pachter, said, "Our Q2 EPS estimate for Carmike goes to $0.26 from
$0.29, and for the full year, our EPS estimate for Carmike goes to $1.28 from $1.32, compared to consensus of $1.07. Our 2013 estimates for revenue, adjusted EBITDA, and EPS all remain the same."
"Our price target reflects a 6.2x EV/EBITDA multiple applied to our 2013 estimate, in line with its peers, plus ≈ 7x applied to $3 million in incremental income we project in 2013 income from Screenvision. This is a premium to its historical multiple of 5.9x given the potential for substantial earnings upside should revenue surpass expectations."
For an analyst ratings summary and ratings history on Carmike Cinemas click here. For more ratings news on Carmike Cinemas click here.
Shares of Carmike Cinemas closed at $14.71 yesterday, with a 52 week range of $5.14-$15.80.
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Analyst, Michael Pachter, said, "Our Q2 EPS estimate for Carmike goes to $0.26 from
$0.29, and for the full year, our EPS estimate for Carmike goes to $1.28 from $1.32, compared to consensus of $1.07. Our 2013 estimates for revenue, adjusted EBITDA, and EPS all remain the same."
"Our price target reflects a 6.2x EV/EBITDA multiple applied to our 2013 estimate, in line with its peers, plus ≈ 7x applied to $3 million in incremental income we project in 2013 income from Screenvision. This is a premium to its historical multiple of 5.9x given the potential for substantial earnings upside should revenue surpass expectations."
For an analyst ratings summary and ratings history on Carmike Cinemas click here. For more ratings news on Carmike Cinemas click here.
Shares of Carmike Cinemas closed at $14.71 yesterday, with a 52 week range of $5.14-$15.80.
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