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Fly News Breaks for November 22, 2019
Nov 22, 2019 | 09:20 EDT
B. Riley FBR analyst Eric Wold revisited his exhibitor coverage heading into the "most important stretch" of the Q4 film slate, which will bring Frozen II, Jumanji: The Next Level, and Star Wars: The Rise of Skywalker to screens. However, with the quarter-to-date box office down 14.7%, the analyst now believes Q4 could be relatively flattish year-over-year versus consensus expectations for a mid-single-digit increase. As a result, he lowered his Q4 estimates for the group and believes the full-year 2019 box office could decline around 4.0%. Wold downgraded both Cinemark (CNK) and Marcus (MCS) to Neutral from Buy, saying short-term domestic box office movements are more likely to influence valuation decisions over the next 12-18 months. The analyst also lowered his price target for Buy-rated AMC Entertainment (AMC) to $15 from $19, for Buy-rated Imax (IMAX) to $30 from $34, and for Neutral-rated National CineMedia (NCMI) to $7.50 from $8.50.
News For CNK;MCS;AMC;IMAX;NCMI From the Last 2 Days
May 10, 2021 | 18:53 EDT
Check out this evening's top movers from around Wall Street, compiled by The Fly. UP AFTER EARNINGSNautilus... To see the rest of the story go to See Story Here
May 10, 2021 | 16:22 EDT
Reports Q revenue $5.4M, consensus $13.12M. Commenting on the Company's first quarter 2021 operating results and liquidity preservation measures in response to the COVID-19 pandemic, NCM CEO Tom Lesinski said, "Our Company and our world are continuing to slowly but steadily recovery from the effects of the COVID-19 pandemic, and there are many positive signs that we're on our way to a revival of the cinema industry and our business. More than half of all adults in the U.S. have had their first vaccine shot, movie theaters and audience capacities continue to open up across the country, and Godzilla vs. Kong, Mortal Kombat, and Demon Slayer have proven what we've been saying all along - that there is strong pent-up audience demand to get back to the unique experience of the big screen, even when that same film is available to watch at home. We are excited for a strong summer movie season and second half of 2021 as there is an incredible film slate in store for cinema audiences, and for our advertising clients that want to reach them at a time when ad-supported television audiences are declining. This provides a great opportunity for our Company over the near and long term. While there are still many challenges ahead, the steps we have taken to expand, diversify and improve our business give me increased confidence for the remainder of 2021 and beyond."