Wunderlich Increases Cinemark Holdings Price Target to $44.00 (CNK)
Research analysts at Wunderlich lifted their price objective on shares of Cinemark Holdings (NYSE:CNK) from $40.00 to $44.00 in a report released on Wednesday. The firm currently has a “buy” rating on the stock. Wunderlich’s price target points to a potential upside of 24.54% from the stock’s current price.
Several other analysts have also recently commented on the stock. Analysts at MKM Partners raised their price target on shares of Cinemark Holdings from $34.00 to $40.00 in a research note on Friday, July 18th. They now have a “buy” rating on the stock. Separately, analysts at Hudson Square Research initiated coverage on shares of Cinemark Holdings in a research note on Monday, July 7th. They set a “buy” rating on the stock. Finally, analysts at Citigroup Inc. downgraded shares of Cinemark Holdings from a “buy” rating to a “neutral” rating in a research note on Monday, July 7th. They noted that the move was a valuation call. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $37.80.
In other Cinemark Holdings news, Insider Valmir Fernandes sold 24,141 shares of Cinemark Holdings stock on the open market in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $35.01, for a total transaction of $845,176.41. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Cinemark Holdings (NYSE:CNK) opened at 35.72 on Wednesday. Cinemark Holdings has a 1-year low of $27.29 and a 1-year high of $35.96. The stock’s 50-day moving average is $34.15 and its 200-day moving average is $30.94. The company has a market cap of $4.101 billion and a price-to-earnings ratio of 20.19.
Cinemark Holdings (NYSE:CNK) last released its earnings data on Tuesday, August 5th. The company reported $0.62 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.48 by $0.14. The company had revenue of $717.90 million for the quarter, compared to the consensus estimate of $706.42 million. During the same quarter in the prior year, the company posted $0.18 earnings per share. The company’s quarterly revenue was down 1.1% on a year-over-year basis. Analysts expect that Cinemark Holdings will post $1.79 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, September 12th. Shareholders of record on Thursday, August 28th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.83%.
Cinemark Holdings, Inc is engaged in the motion picture exhibition business with theatres. The Company manages its business in two segments: United States markets and international markets.
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