Analyst Predicts Two Consecutive Years of Box Office Drops, Cuts Exhibitor Stocks Price Targets

, we now believe fourth-quarter box office could be relatively flattish year-ver-year versus consensus expectations for a mid-single-digit increase ... This could lead to a full-year 2019 box office decline of around 4.0 percent."from 2020 to 2021, he has also been projecting a low- to mid-single-digit box office decline for 2020.

Wold explained his Cinemark downgrade from "buy" to "neutral" this way: "While we have become increasingly optimistic around improving results for the Latin American circuit after years of attendance declines, we believe that short-term domestic box office movements are more likely to influence valuation decisions over the next 6-12 months." He cut his price target on the stock from $46.50 to $37.

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

PayPal plans to acquire shopping and deal-hunting platform Honey for $4 billion, its largest acquisition to date.PayPal's stock price dropped more than 2% in extended trading after the announcement.
Source: BusinessInsider - 🏆 729. / 51 Read more »

Stocks making the biggest moves premarket: Target, Lowe's, Boeing, Alibaba, J&J & moreTarget and Lowe's jump on better-than-expected earnings, while an analyst upgrades Canopy Growth.
Source: CNBC - 🏆 12. / 72 Read more »

Target shares surge after company crushes earnings and raises forecastTarget shares hit a record high after the store posted stronger-than-expected Q3 earnings and sales ahead of the holiday shopping season.
Source: CNBC - 🏆 12. / 72 Read more »