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Movie Theater Analyst Sizes Up AMC, Cinemark And More, Predicts ‘Box Office Rebound In 2025’

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A leading movie theater analyst is upgrading shares of Cinemark Holdings (NYSE:CNK) and sharing commentary on the sector after recent animated hits “Inside Out 2” and “Despicable Me 4” could show strength for 2024.

The Movie Theater Analyst: B. Riley Securities analyst Eric Wold has the following ratings and price targets on the movie theater sector:

  • AMC Entertainment Holdings (NYSE:AMC): Neutral rating, $8 price target
  • Cinemark: Upgrade from Neutral to Buy, raises price target from $16 to $27
  • Imax Corporation (NYSE:IMAX): Buy rating, $30 price target
  • Marcus Corporation (NYSE:MCS): Buy rating, $20 price target
  • National CineMedia (NASDAQ:NCMI): Buy rating, $7.50 price target

Read Also: Cinemark Analyst Turns Bullish On Box Office Strength, Potential Dividend Comeback: ‘Should Prosper Over The Next 2.5 Years’

The Analyst Takeaways: Second-quarter domestic box office was $1.95 billion, which was below estimates of $2.35 billion and down 27% year-over-year, Wold said in the new investor note.

“While the quarter was a disappointment compared to the stronger-than-expected box office results experienced during 1Q24, we continue to chalk up the weak box office results to the relatively sparse film slate that was caused by production delays from the Hollywood strikes as opposed to any shifts in moviegoing behavior or moves by the studios to lock out theaters from key releases,” Wold said.

Wold sees a more optimistic picture for the third and fourth quarters, while lowering the full year estimates for 2024 and 2025.

“We remain extremely positive about a box office rebound in 2025, due to the strong slate and delayed titles from 2024.”

The analyst points to individual titles being a key …

Full story available on Benzinga.com

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