Cinemark Holdings Upgraded to “Buy” by Stifel Nicolaus (CNK)
Cinemark Holdings (NYSE:CNK) was upgraded by Stifel Nicolaus from a “hold” rating to a “buy” rating in a research note issued on Wednesday, TheFlyOnTheWall.com reports. The firm currently has a $42.00 price target on the stock. Stifel Nicolaus’ target price suggests a potential upside of 17.48% from the company’s current price.
A number of other analysts have also recently weighed in on CNK. Analysts at Wunderlich reiterated a “buy” rating on shares of Cinemark Holdings in a research note on Wednesday, August 13th. They now have a $44.00 price target on the stock, up previously from $40.00. Separately, 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. Finally, 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. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $38.89.
Shares of Cinemark Holdings (NYSE:CNK) traded up 0.78% on Wednesday, hitting $36.03. 92,388 shares of the company’s stock traded hands. Cinemark Holdings has a 52-week low of $27.29 and a 52-week high of $36.51. The stock’s 50-day moving average is $34.59 and its 200-day moving average is $31.63. The company has a market cap of $4.137 billion and a P/E ratio of 20.43.
Cinemark Holdings (NYSE:CNK) last posted its quarterly earnings results 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. On average, analysts predict that Cinemark Holdings will post $1.82 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, September 12th. Stockholders of record on Thursday, August 28th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.80%. The ex-dividend date is Tuesday, August 26th.
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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.