Reading International Dividends and Buybacks
Dividend criteria checks 0/6
Reading International does not have a record of paying a dividend.
Key information
n/a
Dividend yield
n/a
Buyback Yield
| Total Shareholder Yield | n/a |
| Future Dividend Yield | 0% |
| Dividend Growth | n/a |
| Next dividend pay date | n/a |
| Ex dividend date | n/a |
| Dividend per share | n/a |
| Payout ratio | n/a |
Recent dividend and buyback updates
Recent updates
RDI: Higher Revenue Outlook And Richer Future P/E Will Support Upside
Analysts have lifted their price target for Reading International, citing updated assumptions that now combine modeled revenue growth of 9.24%, a future P/E of 22.55, and a lower profit margin of 1.09% to reflect a different balance of growth and profitability in their outlook. Valuation Changes Fair Value: The fair value assumption remains unchanged at 2.0. Discount Rate: The discount rate is unchanged at 12.33%.RDI: Stable Assumptions And Low Future P/E Will Support Upside
Analysts have made a small adjustment to their blended valuation inputs for Reading International, refining fair value and related metrics while keeping key assumptions like the 12.33% discount rate and the previously communicated revenue growth outlook of approximately 6.95% effectively unchanged. Valuation Changes Fair Value: $2.00 is unchanged at 2.0, indicating a stable central estimate from the latest update.RDI: Stronger Margins And Low P E Multiple Will Drive Upside
Analysts have slightly increased their price targets on Reading International, reflecting modestly stronger projected profit margins at 10.51% and a marginally lower assumed future P/E of 2.40x, while keeping fair value unchanged at $2.00 and the discount rate steady at 12.33%. Valuation Changes Fair Value: kept steady at $2.00, with no change in the latest update.RDI: Steady Assumptions And Lower Margin Risks Will Support Future Upside
Analysts have trimmed their price target for Reading International, reflecting a modest adjustment to long term profit margin assumptions and a slightly lower future P/E multiple, while keeping fair value and discount rate estimates unchanged. Valuation Changes Fair Value: $2.00 per share remains unchanged, indicating no adjustment to the core valuation estimate.RDI: Lower Risk Assumptions Will Support Stronger Future Share Price
Analysts have modestly adjusted their $ fair value target for Reading International, reflecting slightly lower discount rate assumptions and a small uptick in projected profit margins and future P/E. Together, these changes fine tune, rather than overhaul, their view of the stock.RDI: Modest Assumption Tweaks Will Support Stronger Future Share Price
Analysts have modestly raised their price target for Reading International, citing small adjustments to fair value and updated assumptions for revenue growth, profit margin, and future P/E that slightly refine their outlook on the stock. Valuation Changes Fair Value: Fair value is reported at 2.0, which is unchanged from the prior 2 figure in narrative terms.RDI: Higher Margins And Modest P/E Will Support Stronger Future Share Price
Analysts have nudged their fair value estimate for Reading International to US$2.00 per share. This reflects small tweaks to profit margin and P/E assumptions rather than a shift in the overall thesis.RDI: Improved Profit Margins Will Drive Stronger Future Share Price Performance
Analysts have modestly raised their 12-month price target on Reading International, citing a slightly improved profit margin outlook and marginally lower expected future valuation multiples. Together, these factors support a small uplift in estimated equity value, despite largely unchanged growth and discount rate assumptions.RDI: Higher Long Term Profitability Will Support Future Share Price Momentum
Analysts have modestly raised their price target on Reading International, citing slightly improved long term profitability assumptions and a marginally lower expected future valuation multiple. Valuation Changes Fair Value: Unchanged at 2.0, indicating no revision to the core intrinsic value estimate.RDI: Higher Profit Margins Will Drive Share Price Momentum
Analysts have lowered their fair value estimate for Reading International from $2.50 to $2.00. This adjustment reflects upwardly revised discount rates as well as a reevaluation of long-term profitability and growth assumptions.Why Investors Shouldn't Be Surprised By Reading International, Inc.'s (NASDAQ:RDI) Low P/S
With a price-to-sales (or "P/S") ratio of 0.1x Reading International, Inc. ( NASDAQ:RDI ) may be sending bullish...Reading International: Real Estate Sales Unlock Hidden Value
Summary Recent and pending sales, including Courtenay Central and Cannon Park, will reduce net debt by over $44 million, with Q1 2025 results set to reveal visible balance sheet improvement. Reading’s share count has remained flat for more than a decade, while major peers AMC, Cineworld/Regal, Cinemark, and Marcus diluted shareholders to survive pandemic and strike disruptions. Even after asset sales, retained properties are conservatively valued at over $215 million, exceeding pro-forma enterprise value, giving investors exposure to Reading’s cinema business as a “free option”. Q1 results will showcase the start of $44 million in debt reduction, while management’s first investor outreach in years may help close the persistent valuation gap. The combination of real estate monetization, debt reduction, and cinema recovery positions Reading for substantial upside as its true value becomes increasingly visible to the market. Read the full article on Seeking AlphaReal Estate Monetization And Cinema Upgrades Will Improve Operations
Debt reduction through real estate monetization and cinema closures aims to improve net margins and profitability.Reading International (NASDAQ:RDI) Has Debt But No Earnings; Should You Worry?
Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...Reading International, Inc. (NASDAQ:RDI) Soars 28% But It's A Story Of Risk Vs Reward
Reading International, Inc. ( NASDAQ:RDI ) shareholders would be excited to see that the share price has had a great...Does Reading International (NASDAQ:RDI) Have A Healthy Balance Sheet?
The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...Reading International, Inc. (NASDAQ:RDI) Stock Rockets 36% But Many Are Still Ignoring The Company
Reading International, Inc. ( NASDAQ:RDI ) shares have had a really impressive month, gaining 36% after a shaky period...Does Reading International (NASDAQ:RDI) Have A Healthy Balance Sheet?
The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...Benign Growth For Reading International, Inc. (NASDAQ:RDI) Underpins Stock's 25% Plummet
Reading International, Inc. ( NASDAQ:RDI ) shareholders that were waiting for something to happen have been dealt a...Is Reading International (NASDAQ:RDI) A Risky Investment?
Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...Reading International: Previous Buyout Offers And SOTP Valuation Suggest Substantial Upside
Summary Small cap stocks often fly under the radar, but can offer outsized returns for patient investors. Reading International has had multiple buyout offers in the past from investors that see the significant value in its real estate assets. A number of investors, who are highly successful and savvy in my opinion, have taken interest in this stock. A sum of the parts valuation suggests the cinema business and the real estate assets would be fairly valued at $18 to $24 per share. Buy this stock at around $4 and put it away, you could and should see significant gains as it offers an excellent risk to reward ratio. Reading International, Inc. (RDI) runs a cinema business and it also owns a substantial amount of real estate that is located in the United States, Australia and New Zealand. The cinema business was deeply impacted by the pandemic, but it is coming back strong and appears poised to produce operating profits once again. The real estate holdings this company owns include some landmark properties the sum total of which (along with the cinema business) appear to provide a sum of the parts value (SOTP) that greatly exceeds the current share price. Reading International Website The Cinema Business: The pandemic had a huge impact on the cinema business, but that has all changed and after a couple years of watching Netflix (NFLX) at home, many people are happy to go out to the movies again. For the first time since pre-pandemic times, movie studios have really helped the cinema business in 2022, by releasing a full calendar of blockbuster type films. Movies like "Top Gun Maverick", and "Jurassic World Dominion" have been big hits, and many more potential hits are scheduled for the rest of 2022. The great news for the cinema keeps coming—"Minions: The Rise of Gru" was recently released and it generated more than $108 million in ticket sales, during its domestic opening weekend. More releases for 2022 include: "Thor: Love and Thunder", "Bullet Train" "Black Panther: Wakanda Forever", "Black Adam" and many more. Towards the end of 2022, Disney (DIS) is also planning to release "Avatar: The Way of Water". This has major potential since the first Avatar movie is the highest grossing film of all time. A recent CNBC article summarizes the resurgent cinema business by stating: “This summer is generally meeting, if not exceeding, expectations to that end with a robust release schedule that isn’t depending on just one film,” said Shawn Robbins, chief analyst at BoxOffice.com. “There’s something for everyone in theaters right now, and high comfort levels are coinciding to produce the latest progression of moviegoing’s rebound. Theaters are back and thriving.” General Overview: For the past few months, the market action has been ugly, and according to CNBC, this has been the worst first half of the year for stocks since 1970. Clearly, this negativity has pushed many stocks to very undervalued levels and this appears to be the case with Reading International. In fact, it seems that investors are asleep at the wheel in terms of recognizing the net asset value of this hidden gem of a stock. The cinema business is once again doing very well and this should begin to show up in the upcoming financial results. In addition, this company recently leased out a significant amount of commercial space which is also going to boost cash flows. There appears to be no major analyst coverage of this stock and investors have not yet come to the realization that this company is about to report strong cash flow that has not been seen since before the pandemic. This is significant because before the pandemic, this stock was regularly trading around $16 per share. Upcoming Financial Results Could Drive This Stock Higher: For the second quarter of 2022, Reading International reported a huge jump in revenues which came in at $64.5 million. This nearly doubled the revenues of $36 million for Q2 of 2021. The company reported a loss of $1.6 million for Q2 of 2022, however, if you exclude a one-time $1.5 million impairment charge during this quarter, the results were essentially break-even. This shows that Reading International could be poised to report positive earnings in an upcoming quarter, especially since it has recently signed new lease agreements that will boost cash flow and profitability. After a couple years of losses due to the pandemic, a return to positive earnings per share could help push the stock back up to the pre-pandemic levels it held of around $16 per share. Revenues and profits appear to be headed back to pre-pandemic levels, so it makes sense that the share price of about $16+ can also come back into play. These recent financial results show that Reading International is potentially on the cusp of reporting positive earnings which could drive the stock much higher. The Chart: As the chart below shows, shares of Reading International put in a bullish double bottom (during May and June). The lows this stock hit in May and June coincide with the recent lows for the stock market in general. This stock is now trading just below the 50-day moving average which is $4.19, and it is also just below the 200-day moving average which is around $4.11 per share. In early August, when the market rallied, the shares went up to nearly $5, but this is still way too low when considering the sum-of-the-parts value, which we will get into next. The potential for a recession seems to be a big concern for the stock market in general and it seems to be putting pressure on all stocks, but the movie business is considered to be recession-resistant. That is another reason why the recent pullback in this stock is an ideal time to buy this deeply undervalued stock. Reading International, Inc. Sum-Of-The-Parts Valuation Suggests This Stock Is Deeply Undervalued: The company has stated book value for its real estate assets that total nearly $250 million. However, as is often the case with commercial real estate that was bought many years ago, the value stated on the balance sheet does not reflect current fair market value due to depreciation write offs, as well as any appreciation that the property has experienced over the years. Here are some actual examples pertaining to this company specifically: During the pandemic, Reading International sold some properties which showed that the values carried on the books were significantly below current fair market value. In June 2021, the company sold property in Australia for $69.6 million, which was carried on their books at a value of $30.2 million. This resulted in a gain of $38.7 million (more than double the value on the balance sheet). In March, 2021, the company sold property in New Zealand that produced even bigger gains. Reading International sold two industrial properties for $56.1 million, which represented a massive $41 million gain on the (only) $13.6 million value it held on the balance sheet. These examples show that the real estate values shown on the balance sheet are significantly below actual market values. These examples suggest that the nearly $250 million valuation for real estate on the balance sheet could easily be worth at least double that amount, or around $500 million. However, a more detailed reviewed is ideal and as you can see with the breakdown provided below, the sum-of-the-parts value indicates significant upside potential: In terms of the sum-of-the-parts valuation for Reading International, here are some numbers that suggest $18 to $24 per share could be fair value. The non-cinema real estate assets range between $400m to $500m. Based on rent estimates (PETCO recently signed a lease for 30k SF at 44 Union Square) and cap rates of about 6%, I believe the 44 Union Square and Cinema 123 properties have a combined value of $200 million. Then there is Courtenay Central (in New Zealand), which is a 100k square foot shopping center with an additional land parcel as well as several cash flow generating office buildings and shopping centers (Newmarket Village, Cannon Park, The Belmont Common), in the Reading International portfolio which could have an estimated market value of $200 to $300 million. We put a value of $200m to $300m on the cinema business. This is based on the company generating around $40 to $45 million in EBITDA on the cinema business in 2023, which seems reasonable, based on around $48 million it generated in 2019 and $55 million in EBITDA it generated in 2019. As of 6/30/22, after considering cash and cash equivalents of about $51.2 million, the net debt is around $170 million. Based on roughly 22 million shares outstanding, these numbers support a sum-of-the parts value of $18 to $24 per share. It is worth noting that the multiple previous buyout offers which ranged between $18.50 to $19.28 per share also appear to support this sum-of-the parts valuation as well.Reading International GAAP EPS of -$0.11 misses by $0.05, revenue of $64.5M beats by $2.76M
Reading International press release (NASDAQ:RDI): Q2 GAAP EPS of -$0.11 misses by $0.05. Revenue of $64.5M (+79.0% Y/Y) beats by $2.76M.Volume Breakout Report: July 30, 2022 (Technical Analysis)
A performance review explains strong relative gains this past week for initial picks. 5 new buy signals are discussed. Reading International -Class A- shares are highlighted and analyzed in more detail. We finally have some big winners over the last week to discuss from previous VBR lists, namely JAKKS Pacific (JAKK) and Resources Connection (RGP). JAKK blew out expectations this week with a huge quarterly profit announcement linked here, far surpassing forecasts of a small loss. RGP also soundly beat already high expectations for its latest operating quarter, linked here. In addition to these two big winners late in the week, a growing number of picks have been outperforming the S&P 500 and Russell 2000 indexes since highlighted by the VBR, including Immatics N.V. (IMTX), CECO Environmental (CECE), Target Hospitality (TH), Green Brick Partners (GRBK), Ormat Technologies (ORA), Sanmina (SANM), Kelly Services (KELYA), and Fresh Del Monte Produce (FDP). The one standout loser has been Chinese EV maker Li Auto (LI), down almost 20%. If you own that name, and want to bail, I totally understand. Keeping individual losses to a minimum is critically important. We’re up to 20 picks since late June, with 5 more to highlight this week. My performance calculations on the group strengthened demonstrably this week. Not only are actual nominal gains appearing across the board, but “underperformance” vs. the market indexes approaching -2% last week (using an equal weighting of picks) has now clawed back to nearly -1%. If we get another week of solid advance in my VBR names, it is entirely possible the whole list (including new ideas) could be “outperforming” Wall Street in the days ahead. Below are graphs reviewing VBR price gains/losses vs. market index fluctuations, using Friday closing values before publication of my selections. YCharts, VBR Picks from July 22nd YCharts, VBR Picks from July 15th YCharts, VBR Picks from July 8th YCharts, VBR Picks from July 1st YCharts, VBR Picks from June 24th New VBR Buy Signals Reading International One of the biggest discounts I have ever seen in a nonvoting equity class vs. a voting class of shares is now available in Reading International (RDI). The nonvoting shares trade under the RDI ticker symbol with 20.36 million Class A units outstanding. RDIB is the trading symbol for 1.68 million voting Class B shares controlled by the Cotter family. At current market prices, the combined classes work out to $130 million in equity capitalization. You can review below the wide and growing distance in pricing between the two classes since 2017. Using a 5-year “average” 60% discount for RDI vs. RDIB, the stock should be trading closer to $9. YCharts Reading International’s business model is upscale cinema and live theater ownership in New York, Los Angeles, Australia, and New Zealand. However, the company also owns/controls development properties and mixed-use real estate including retail. At the end of March, $67 million in cash and a net depreciated total of $530 million in real estate are either owned or controlled through long-term leases. The good news is real estate holdings are likely worth a great deal more than accounting book values. $800 million represents the "purchase" pricing for property ownership, with more than half of this number held for greater than 10 years. For example, in early 2021, several properties were sold at prices well above book value to raise capital during pandemic theater closures, especially in Australia and New Zealand. Management has stated the $145 million in real estate sold included less desirable long-term assets, still recording $92 million in gains on the transactions. A new retail lease agreement was announced in February on its historic and iconic 44 Union Square property in New York City. My view is the $4.21 in book value per share could be understating underlying real estate worth by $5 to $10 in a robust live-entertainment attendance world. Company Website - 44 Union Square, New York City In the end, RDI is a play on (1) the massive difference in share class pricing being closed in the future, (2) a rebound of physical in-person movie and theater attendance after the COVID-19 pandemic, and (3) real estate values continuing to gallop higher with inflation, not yet under control by the world’s central banks. Technically speaking, a down-sloping trendline can be drawn through a number of high trades all the way back to early 2019. And this trendline was respected and tightly hugged for months this year. However, in July, it appears a major price breakout has begun. StockCharts, Author Reference Points StockCharts REX American Resources I mentioned REX American (REX) in a full-length story this past week here. It is primarily an ethanol refiner, producing renewable energy, corn-derived additives/substitutes for gasoline. Huge cash holdings (about 40% of the stock value) and zero debt have generated nice levels of free cash flow and earnings over the years. It is a defensive idea with future upside tied to gasoline shortages in America. With gasoline refining capacity in the U.S. stagnant to falling in future years (no new plants are being built), auto drivers may become increasingly dependent on substitutes like ethanol. At the very least, improved demand for ethanol should lead to higher margins in the industry potentially for years. REX specifically is well prepared for higher sales and margins, and investors can scoop up shares for a P/E ratio close to 10x forward results (10% earnings yield) before adjusting for its cash position. After enterprise value adjustments, the trailing free cash flow yield is nearly 17%, likely rising above 20% annually in 2023-24. The overall valuation is approaching a decade low. YCharts The company is undertaking a 3-for-1 stock split as we speak, with price moving from the mid-$90s to low-$30s per share. Of course, trading data has not been fully adjusted correctly by tracking outfits like StockCharts, so I am using a cleaner chart version below, through Wednesday with the new price. Shares have been under heavy accumulation since June. StockCharts Associated Capital Associated Capital (AC), 85% controlled by famed investor Mario Gabelli, is largely a merger arbitrage vehicle shooting for regular and conservative annual shareholder returns. The company is an advisory firm with a focus on alternative investments. The total return achieved by the stock is around +50% since it was spun off from GAMCO Investors (GBL) in late 2015, about the same as the Russell 2000 index total return including dividends. Selling close to net asset book value, this defensive equity investment appears to be under accumulation in my momentum research. While I do not have grand expectations for gains moving forward, a 10% return over the next 12 months may prove a winning proposition if U.S. stocks stagnate in a recessionary, high-inflation macro environment. If interested in buying AC shares, Seeking Alpha contributor EG Capital wrote an excellent explanation of the business in early July here. StockCharts Guaranty Bancshares Another defensive idea in the financial sector is Guaranty Bancshares (GNTY). GNTY has been showing up on my top momentum sorts for weeks, without the high-volume trading of months ago. However, on Friday, better volume buying took place. It’s a small regional bank with 32 branches operating in the booming Texas economy, supported by skyrocketing oil/gas prices in 2022. The stock is trading for 11x EPS with a 2.2% dividend yield. Total returns of 10% (possibly 15%) over the next 12 months are my forecast. If Wall Street succumbs to a recession and declines in price the rest of 2022, steady low-volatility gainers will be in demand by investors. Positive performance vs. the weakening financial sector overall in 2022 is a major ingredient for my bullish stance. Because of its minor size, this bank is also a clear takeover candidate. StockCharts Broadwind Energy With the surprise announcement this week of a deal by the Biden administration and Democratic leaders in Congress to fund climate change, global warming fixes, solar and wind names have moved straight up. In terms of a small pick few investors know about, Broadwind (BWEN) produces the large steel bases and gearing systems for windmills and the booming oil/gas industries. It appears sellers in BWEN shares have completely disappeared over the last few trading days.Health Check: How Prudently Does Reading International (NASDAQ:RDI) Use Debt?
Warren Buffett famously said, 'Volatility is far from synonymous with risk.' When we think about how risky a company...Shareholders May Be Wary Of Increasing Reading International, Inc.'s (NASDAQ:RDI) CEO Compensation Package
Shareholders will probably not be too impressed with the underwhelming results at Reading International, Inc...Should You Investigate Reading International, Inc. (NASDAQ:RDI) At US$4.24?
While Reading International, Inc. ( NASDAQ:RDI ) might not be the most widely known stock at the moment, it saw...Reading International (NASDAQ:RDI) Strong Profits May Be Masking Some Underlying Issues
The recent earnings posted by Reading International, Inc. ( NASDAQ:RDI ) were solid, but the stock didn't move as much...If You Had Bought Reading International's (NASDAQ:RDI) Shares Three Years Ago You Would Be Down 60%
Reading International, Inc. ( NASDAQ:RDI ) shareholders will doubtless be very grateful to see the share price up 88...Is Reading International (NASDAQ:RDI) A Risky Investment?
David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...Should You Review Recent Insider Transactions At Reading International, Inc. (NASDAQ:RDI)?
It is not uncommon to see companies perform well in the years after insiders buy shares. Unfortunately, there are also...What Type Of Shareholders Make Up Reading International, Inc.'s (NASDAQ:RDI) Share Registry?
A look at the shareholders of Reading International, Inc. ( NASDAQ:RDI ) can tell us which group is most powerful...Stability and Growth of Payments
Fetching dividends data
Stable Dividend: Insufficient data to determine if RDI's dividends per share have been stable in the past.
Growing Dividend: Insufficient data to determine if RDI's dividend payments have been increasing.
Dividend Yield vs Market
| Reading International Dividend Yield vs Market |
|---|
| Segment | Dividend Yield |
|---|---|
| Company (RDI) | n/a |
| Market Bottom 25% (US) | 1.4% |
| Market Top 25% (US) | 4.2% |
| Industry Average (Entertainment) | 1.5% |
| Analyst forecast (RDI) (up to 3 years) | 0% |
Notable Dividend: Unable to evaluate RDI's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.
High Dividend: Unable to evaluate RDI's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.
Earnings Payout to Shareholders
Earnings Coverage: Insufficient data to calculate RDI's payout ratio to determine if its dividend payments are covered by earnings.
Cash Payout to Shareholders
Cash Flow Coverage: Unable to calculate sustainability of dividends as RDI has not reported any payouts.
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Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/05/07 17:31 |
| End of Day Share Price | 2026/05/07 00:00 |
| Earnings | 2025/12/31 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
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Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Reading International, Inc. is covered by 2 analysts. 0 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Eric Wold | B. Riley Securities, Inc. |
| Chad Beynon | Macquarie Research |