Maxim Group Maintains a 'Buy' on Carmike Cinemas (CKEC); Raising Q1 Estimates & PT

Maxim Group maintains a 'Buy' on Carmike Cinemas (NASDAQ: CKEC) price target raised from $13 to $20.

Analyst, John Tinker, said, "We are raising our 1Q12 revenue estimates to $109.3M (up 14% y/y), from our prior estimate of $101.9M, and EBITDA estimates to $14M (up 136% y/y), from our prior estimate of $13.3M. Consensus revenue estimates are ~$110.3M and EBITDA estimate of ~$12.9M. Our new FY12 estimates are revenues of $517M (up 7% y/y), up from $512M, and EBITDA of $79.8M (up 10% y/y), up from $78M. Consensus estimates for FY12 are ~$516M in revenues and ~$80.7M of EBITDA. Our FY12 admission revenues estimate of $333M (up 7.5% y/y) implies an 6% y/y increase for the next nine months and is based on an overall US box office of $11B (up 9% y/y) which implies an increase of 7% y/y for the next nine months."

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 $13.95 yesterday.

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