Maxim Group Reiterates a 'Buy' on Carmike Cinemas (CKEC); Finally Beating Estimates
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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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Maxim Group reiterates a 'Buy' on Carmike Cinemas (NASDAQ: CKEC) price target of $13.00.
Analyst, John Tinker, said, "CKEC reported 4Q11 revenues of $120M, up 4% y/y and above our estimate of $113M and consensus of $112M...CKEC is beginning to ramp up with new theatre builds, which we believe should help even out the box-office fluctuations magnified by a small share base. The company is limited to spending $25M under its covenants. Management is suggesting that the company is reviewing its capital structure as it begins to expand again. In the meantime, as the box office keeps recovering, we estimate that free cash flow should grow to about $1.53 in FY12, from $0.70 in FY11 (which compared to our FY11 estimate of $0.66."
(Note that $1.53 FCF/share is after our estimate of $23M ($1.80/share) of capital expenditure)
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 $9.10 yesterday.
Analyst, John Tinker, said, "CKEC reported 4Q11 revenues of $120M, up 4% y/y and above our estimate of $113M and consensus of $112M...CKEC is beginning to ramp up with new theatre builds, which we believe should help even out the box-office fluctuations magnified by a small share base. The company is limited to spending $25M under its covenants. Management is suggesting that the company is reviewing its capital structure as it begins to expand again. In the meantime, as the box office keeps recovering, we estimate that free cash flow should grow to about $1.53 in FY12, from $0.70 in FY11 (which compared to our FY11 estimate of $0.66."
(Note that $1.53 FCF/share is after our estimate of $23M ($1.80/share) of capital expenditure)
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 $9.10 yesterday.
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