Share Name Share Symbol Market Type Share ISIN Share Description
Cineworld LSE:CINE London Ordinary Share GB00B15FWH70 ORD 1P
  Price Change % Change Share Price Shares Traded Last Trade
  -2.20p -0.89% 245.20p 143,493 08:30:21
Bid Price Offer Price High Price Low Price Open Price
245.00p 245.40p 251.00p 244.60p 247.60p
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Travel & Leisure 890.7 120.5 16.4 15.0 3,259.32

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Date Time Title Posts
19/11/201414:16Cineworld (CINE) - IMS-
27/10/200918:37CINE: 165p resistance..2
13/2/200900:04Cineworld (LSE:CINE) into administration?1
04/7/200707:51welcome to the cinema3

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Cineworld Daily Update: Cineworld is listed in the Travel & Leisure sector of the London Stock Exchange with ticker CINE. The last closing price for Cineworld was 247.40p.
Cineworld has a 4 week average price of 225p and a 12 week average price of 220p.
The 1 year high share price is 744.50p while the 1 year low share price is currently 220p.
There are currently 1,329,248,308 shares in issue and the average daily traded volume is 7,847,537 shares. The market capitalisation of Cineworld is £3,259,316,851.22.
bignads: Really good results today with solid profit and margin growth. Looking ahead, integration of Regel cinemas looks like its off to a positive start and there's good features lined up for the screens this year. Share price should get a good boost today.
royjs: Thanks Hyden, yes she had certificated for a portion of the shares as she had started in 2007 in the scheme. You are correct in 2014 she was part way through another 3 year scheme but because she left the company in 2015 came out of the scheme and they refunded he investment so in 2014 had certificates ( 2 different investment codes) one for 450 shares the other for 1393, she sold 750 in 2013. So at the time of 2014 rights issue she had 1843 shares with certificates. She's emailed signal asking and will follow up with phone calls if no response but guess things are busy at the moment? I see yesterday the price was around 243p, it was the cut off date for taking up the rights so they will try to sell on the rights not taken up from today. Is it likely that these could sell at around 240p or will it be a lot less than current price? I appreciate they will sell for whatever they can sell for and nobody knows but would you expect it to be the around share price of the day (242p as I type) or a bit less?
sharw: Yes, Mozy123's calculation is correct although they are 240 at the moment so that is original shares worth £4423 and £6119 the value of the rights. That demonstrates the gearing of the rights. That increase makes you £1000 better off but a share price wobble would take it away again so unless you are certain (who can be?) that share prices will go up between now and October I know what I would do.
sharw: royjs - see my post 1690 for what I did last time round. It is a difficult decision for you because not only are the markets volatile at the moment but also the deal causing the rights issue is massive and to make it work management need to improve profits at the acquired US chain. If they succeed the share price goes up and if they don't..... I think you realise that in the short term if prices do not move (if!) then you will be no better or worse off whatever you decide so the question you really need to ask is what you would do with the roughly £6000 that you would receive if you did nothing. You could buy something different and thus diversify your portfolio - there are plenty of companies out there which some people would rate higher than CINE. This is where it really is up to you.
royjs: Thank you for your patience with me sharw and Mozy123, sorry for the confusion yes the date missed is the special dealing service 9 Feb. I now understand we have 2 options but what do you think is a good bet, appreciate nobody knows where it will go but I'm trying to understand are we better to wait to receive the rights sale or buy what we can? Mozy123 wrote the following: As you have not done anything the 4 shares will be sold by the company and you will get cash for them. 79p-157p (price of the right) 4*78p for every ord share. So for the 1843 shares she has that would mean 1843*4*78p=£5750 (less fees etc) However sharw indicated it would be share price less 157 so if share price is todays that would be 1843*(238p-157p)= £1492 So I guess I've not understood Mozy123 explanation correctly, sorry. If for example we decide to buy an additional £1000 at 157p each that would be 637 shares so if we managed to sell them on at todays price 238p that would give around £500 profit (less fees). If we let them lapse those 637 shares may get back 637*(238-157)= £515. Obviously some big assumptions there but trying work out is better to invest in some more or let it lapse as it seems what could be made in the short term is similar if the price goes up. Or is it possible that in a few months they could be worth more and a greater profit made. What would you do in this situation apart from sell them last May when they were 744p..... Thank you for your support
sharw: royjs - I think you are confusing us by saying that you have missed a date. The first question is whether your shares are in a nominee a/c or certificated. The fact that you have been talking to the registrar Link suggests the latter. The complex timetable is set out in full some way down the announcement: You say you missed the 9th but that was a special facility: Latest time for receipt of instructions under the Special Dealing Service in respect of Cashless Take-up or disposal of Nil Paid Rights 3.00 p.m. on 9 February 2018 The next main deadline is: Latest time and date for acceptance, payment in full and registration of renunciation of Provisional Allotment Letters 11.00 a.m. on 19 February 2018 So assuming you are in certificates you have two options left - pay 157p per rights share by that deadline or do nothing. If you do nothing the rights shares will automatically be sold on your behalf and you will receive the share price less 157 less expenses. This has all been explained on this thread before - you may wish to calmly read through starting here: Remember - as Mozy123 says this can't make you worse off.
grahamburn: See from my broker the nil paid rights have been credited to my account. The EPIC is "CINN" (stands for Cineworld New), but that epic isn't recognised yet by advfn. Their current price added to the rights issue prices adds up exactly to the CINE price - which is, of course, as it should be.
grahamburn: Re the earlier posts on the relative mismatch in the sizes of Cineworld and Regal. It shouldn't be forgotten by old hands that back in 2014 when Cineworld theoretically "took over" the business controlled by the Greidingers (can't remember its name offhand), it was really the other way round as the Greidingers jumped into the top management seats. That might set a precedent for the deal with Regal because the Greidingers' business in Israel and eastern Europe was much smaller than Cineworld at that time. In short, the Greidingers have past form of seeming to biting off more than they can chew, but then turning the combined businesses into something much bigger. However, having said that, the nominal size of Regal's debts does appear to be high, though any eventual deal could be structured to take care of that aspect. However, that could be a bigger ask after today's share price fall as any rights issue will be harder to get away. Right now, the jury's out. If the putative deal falls, then the share price will undoubtedly bounce back though not necessarily to where it was yesterday as the Greidingers' reputations will have taken a knock. On the other hand, the share price could also recover a little if the deal is well structured in Cineworld's favour, not to mention in shareholders' favour as well in terms of a decent rights issue discount.
soundbuy: Cazenove. Cineworld had what we regard as a very strong year in 2015. EBITDA was up 18.5% on a proforma basis to £155m, 1% above our estimate. A record 18 new sites were opened across the estate. 2016 has started well, especially in CEE and Israel, but the UK has also been solid and in line with expectations. Our EPS estimates increase by 3% in both FY16 and FY17. We remain Overweight with an increased price target of 610p, March 2017 (was 600p to Dec-16).  Solid headline performance. Revenue was up 13.9% (12.4% proforma) to £706m, in line with our estimate of £707m. EBITDA was £155.3m, 1% above our estimate of £154.2m. Adjusted PBT was £102.8m, up 37% and above our estimate of £94.1m and Bloomberg consensus of £96.2m due mainly to a lower depreciation charge. Adjusted EPS was 31.7p, which was above our estimate of 27.9p and Bloomberg consensus of 28.3p due to lower depreciation and a lower effective tax rate.  Margin expansion. As well as increasing overall admissions by 6.5%, Cineworld achieved growth in average ticket prices and retail spend per person. This, coupled with operating cost efficiencies, allowed the EBITDA margin to expand from 20.4% to 22.0%.  Outlook is positive. We believe the outlook for further growth in 2016 is very positive. We expect a further 13 new sites to be opened (6 in the UK and 7 in CEE/Israel). We also believe that Cineworld's business model will see it outperform the UK box office in 2016.  Changes to earnings estimates. There are no material changes to our adjusted EBITDA estimates, which remain £170m in FY16 and £185m in FY17. The assumption of a lower depreciation charge means our operating profit estimates increase by 3% from £114.1m to £117.4m in FY16 and by 2% from £125.3m to £128.4m in FY17. Our adjusted EPS estimates increase by 3% from 32.3p to 33.2p in FY16 and by 3% from 35.4p to 36.4p in FY17. Canaccord. Cineworld's FY15 results were slightly ahead of consensus driven by the UK Other line which includes film advertising. But we believe it could have been so much better. Cineworld lost UK box office market share in FY15 and we estimate that it could be missing out on as much as £2.2m of additional EBITDA per blockbuster in the UK. Assuming a blockbuster/quarter that puts Cineworld’s missed UK opportunity at £8.8m. For Bond, Hunger Games and Star Wars, the scale of the missed opportunity could have been as much as £6.6m. The FY16 film slate is weaker and we do not expect consensus to change materially. We retain our HOLD recommendation as the share price is below our target price. Detail Cineworld reported FY15 EBITDA of £155.3m (+22.7%) and Adj PBT of £102.8m (+37.15) with both reporting divisions performing equally well. To put performance into context, Cineworld lost UK market share with box office revenue +8.0% versus market +17.4%. Q1 has been saved by Deadpool, but the film slate is weaker this year with the mix to more family films and less blockbusters, no material change to consensus is expected at this stage. The openings programme is on track: 18 new cinemas opened in FY15 and Cineworld will continue to open 13-14 new multiplexes per annum from now on. The dividend was +30% to 17.5p and net debt/EBITDA reduced by £37m to £282m. Cineworld can fund all requirements from cashflow. Cineworld has appointed Mr Dean Moore as interim CFO for 12 months pending the promotion of Nissan Cohen to the job, who becomes deputy CFO. Valuation Yesterday's closing share price of 480p values the stock on a P/E of 16.1x for FY16E and 15.1x for FY17E, and EV/EBITDA of 8.9x falling to 8.2x, and FCF yield of 9.2% rising to 9.9%. Our 500p share price target is based on a PE of 16.8x, an EV/EBITDA of 9.2x and 8.8% FCF for FY16E. The default Quest® valuation is 302p. The stock has performed relatively well compared to IMAX and Cineplex. Our CG preferred stock remains IMAX (IMAX : NYSE : US$32 | BUY, TP: US$37).
lauders: Well this is confusing! Below are both notes from the same "broker" a week apart. Nothing like confusing your clients! Perhaps one client liked the original one so much and agreed so much they convinced Canaccord to issue another contrary one so they could load-up! Surely the FSA should look into obvious cases like this? Seems crazy! Canaccord has latched onto Bond-mania with the release of Sceptre, the latest film in the long-running franchise, on Monday to repeat its ‘buy’ rating on cinema chain Cineworld (LON;CINE). But it is the less racy expansion opportunity for the chain in eastern Europe that has got the broker’s juices running. An analysts’ trip to Romania confirmed the commanding position in a growing market held by Cineworld in a country where there is little competition said the broker. Subsidiary Cinema City operates 21 of 34 multiplexes in Romania with plans to take it to 40 multiplexes in the next five years. Cineworld also makes more money per pound of investment in Romania that anywhere else. The 40 multiplex target is realistic, believes Canaccord, as Romania has a population of 20mln and there are 23 cities with a population of over 100,000. James Bond and Star Wars excitement meanwhile has led to problems coping with the demand. Canaccord said Cineworld had confirmed its website had crashed along with its rivals due to the surge of interest, with as many ticket requests for Star Wars in a day as normally come in over three months. Buy with a 620p target price says the broker. Cannacorde note....We are reducing our Cineworld recommendation to SELL from Buy with a new, lowered share price target of 535p (from 620p), implying c10% downside. It’s time to take profits. Cineworld’s share price is up 75% over the last 12 months driven in large part by this year’s fantastic film slate that climaxes this quarter with three blockbusters: Bond Spectre, Hunger Games: Mockingjay Part 2 and Star Wars: the Force Awakens yet Cineworld traditionally under-indexes versus Odeon and Vue on blockbusters and our research suggests this quarter will be no exception. This quarter is as good as it gets for the cinema industry. Next year's film slate is less strong and it could be a 'crowded trade' when the market wakes up to a duller outlook not helped by the distractions of the Olympics and the UEFA European Football Championships next summer.Our analysis round the three autumn blockbusters shows that Odeon is more aggressive on the allocation of screens and Vue is more aggressive on price. Cineworld does not believe in revenue yield optimization. Until it does, we believe it will continue to underperform during industry peaks. We are coming to the view that Cineworld is better at building cinemas in unsophisticated East Europe where competition is weak than optimizing performance from its sophisticated UK portfolio where competition is intense. We estimate Cineworld could be missing out on as much as £2.2m of additional EBITDA per blockbuster in the UK. Assuming a blockbuster/quarter that puts Cineworld’s missed UK opportunity at £8.8m. For 4Q15, with three potential blockbusters, the scale of the missed opportunity may be as much as £6.6m. To put this in context, the UK accounts for c65% of Cineworld EBIT and we are forecasting an H2 EBIT contribution of £44.7m for the UK and £65.4m for group EBIT. It’s a very material lost opportunity for Cineworld. Potential year-end upgrades should not be mistaken for an excellent performance: a rising tide lifts all ships. Our new 535p target price valuation is equivalent to 18.8x PER, 10.0x EV/EBITDA, an 8.0% FCF yield and 3.0% dividend yield for FY15E. The current share price of 594p values the stock on a P/E of 20.9x for FY15E, 18.9x FY16E, an EV/EBITDA of 10.9x falling to 10.0x, a FCF yield of 7.2% rising to 7.9% and dividend yield of 2.7% rising to 2.9% over the same period. It now looks an expensive stock following its re-rating over the last 12 months. Anyone else confused?
Cineworld share price data is direct from the London Stock Exchange
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