Wedbush Securities Believes Recent Acquisitions Position Carmike Cinemas, Inc. to Deliver Operating Leverage from Fixed Cost Base

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In a report published Tuesday, Wedbush Securities analyst Michael Pachter reiterated an Outperform rating and $36.00 price target on
Carmike Cinemas, Inc.CKEC
. In the report, Wedbush Securities noted, "Carmike's solid top line was overshadowed by higher operating expenses as negative leverage from high fixed costs drove the EPS shortfall. Revenue was $185 million, compared with our estimate of $181 million and consensus of $187 million. Adjusted EBITDA was $27 million, compared with our estimate of $29 million. Adjusted EPS was $(0.04) (excluding $0.05 per share in one-time charges), compared with our estimate of $0.10, and the consensus estimate of $0.20." Carmike Cinemas, Inc. closed on Monday at $32.01.
Posted In: Analyst ColorReiterationAnalyst RatingsMichael PachterWedbush Securities
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