Wedbush Upgrades Carmike Cinemas (CKEC) to Outperform; Valuation Is Now Attractive Relative to Peer Group
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Price: $33.40 --0%
Rating Summary:
4 Buy, 6 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
4 Buy, 6 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Wedbush upgraded Carmike Cinemas (NASDAQ: CKEC) to Outperform with a price target of $8.50.
Wedbush analyst says, "We are raising our rating as the stock is currently trading at the low end of its historical range, and we believe the company is poised for growth over the coming quarters. Our price target reflects a 5.6x EV/EBITDA multiple applied to our 2012 estimate, a discount to its peers to reflect the company’s higher debt levels and elevated volatility based on operating results."
"We are lowering our Q3 estimates; although box office results were strong,
they came in below our high expectations. We are lowering our revenue
estimate to $133 million from $137 million and our EPS estimate to $0.26 from
$0.34, compared with consensus for revenue of $134 million and EPS of $0.23. Carmike did not provide guidance."
For more ratings news on Carmike Cinemas click here and for the rating history of Carmike Cinemas click here.
Shares of Carmike Cinemas closed at $6.59 yesterday.
Wedbush analyst says, "We are raising our rating as the stock is currently trading at the low end of its historical range, and we believe the company is poised for growth over the coming quarters. Our price target reflects a 5.6x EV/EBITDA multiple applied to our 2012 estimate, a discount to its peers to reflect the company’s higher debt levels and elevated volatility based on operating results."
"We are lowering our Q3 estimates; although box office results were strong,
they came in below our high expectations. We are lowering our revenue
estimate to $133 million from $137 million and our EPS estimate to $0.26 from
$0.34, compared with consensus for revenue of $134 million and EPS of $0.23. Carmike did not provide guidance."
For more ratings news on Carmike Cinemas click here and for the rating history of Carmike Cinemas click here.
Shares of Carmike Cinemas closed at $6.59 yesterday.
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