Movie Analyst: Lowering Estimates for these Key Companies
According to analyst Michael Pachter at Wedbush Morgan, there are some serious problems for the movie and entertainment sector in early 2011.
Here’s Pachter’s bullet points for a preview of Q4 earnings announcements:
- Lowering estimates for Carmike Cinemas (NASDAQ:CKEC), Cinemark Holdings (NYSE:CNK), and Regal Entertainment (NYSE:RGC) due to much weaker-than-expected domestic box office receipts.
- Many of Q4’s high-profile releases were poorly received by critics and the movie-going public.
- In addition to lackluster reviews, we believe rising ticket prices also acted as a deterrent for moviegoers.
- Q4:10 faced a very difficult comparison due to Avatar and The Twilight Saga: New Moon.
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