Get 40% Off
💰 Buffett reveals a $6.7B stake in Chubb. Copy the full portfolio for FREE with InvestingPro’s Stock Ideas toolCopy Portfolios

U.S box office seen dropping 21% in Q3

Published 08/31/2017, 12:32 PM
© Reuters.  U.S box office seen dropping 21% in Q3
RDI
-
RGC_old
-
MCS
-
IMX
-
CNK
-
AMC
-
  • The sharp decline in movie theater stocks is highlighted in a new piece from The Hollywood Reporter.
  • "Woe unto those who have owned stock in movie theaters this summer, as their investments have been thrashed even in a bull market, the impetus being lousy attendance in the past three month," sums up THR's Paul Bond.
  • Looking ahead, FBR Capital Markets analyst Barton Crockett sees the U.S. Q3 box office falling 21% Y/Y for the full year to $2.36B before help arrives in Q4 with Star Wars: The Last Jedi and Justice League.
  • Still, it could be tough going ahead for the sector as the threat of premium on-demand viewing of first-rum movies lingers. "Until we get some resolution on PVOD, it will be difficult for the theater stocks to make sustained headway," observes Northlake Capital Management analyst Steven Birenberg.
  • Related stocks: AMC, RGC, IMAX, CNK, RDI, MCS.
  • Now read: Is This The Bottom For IMAX?


Original article

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.