After a Bad Summer, Can Movie Theater Stocks Rebound?
It has been a forgettable summer for movie theater investors. Ticket sales are down, and as a result, valuations have plummeted for the world's largest cinema operator AMC Entertainment (NYSE: AMC). Things have been a little better for Cinemark (NYSE: CNK) and Regal Entertainment (NYSE: RGC), though they too are trailing the broad market by a wide margin.
Now that the important fourth quarter is here, let's find out if a rebound is in order for the movie business.
The 2017 box office was supposed to be an improvement over 2016. While there have been hits like Walt Disney's Beauty and the Beast and Guardians of the Galaxy Vol. 2, ticket revenue is down 5% compared with the same time last year. The summer box office of 2017 was the worst in a decade, according to industry research company Box Office Mojo.
Source: Fool.com
Cinemark Holdings Inc. Stock
With 24 Buy predictions and 2 Sell predictions Cinemark Holdings Inc. is one of the favorites of our community.
As a result the target price of 21 € shows a slightly positive potential of 5.34% compared to the current price of 19.94 € for Cinemark Holdings Inc..
