Carmike is positioned to benefit from a rebound in box-office revenue in the US and Canada, James Marsh, an analyst for Piper Jaffray, said in a note to investors.
Marsh raised his 2012 profit estimate to 80 cents a share, from 52 cents. He estimated 2012 sales of $509 million, up from his previous figure of $465 million.
Marsh upgraded Carmike shares to “overweight,” from “neutral” in a January report.
Ticket sales in the US and Canada will increase 6.7 percent this year, Marsh said in the note. Theaters sold $10.2 billion in tickets last year, a 3.4 percent decline from 2010, according to Hollywood.com Box-Office.