Carmike Cinemas Inc. (CKEC) Sets New 1-Year High at $32.74
Carmike Cinemas Inc. (NASDAQ:CKEC) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $32.74 and last traded at $32.65, with a volume of 26,477 shares. The stock had previously closed at $32.65.
Several equities research analysts recently issued reports on the company. B. Riley set a $32.75 price objective on Carmike Cinemas and gave the stock a “hold” rating in a report on Thursday, July 28th. Wedbush reiterated a “neutral” rating and issued a $30.00 price objective on shares of Carmike Cinemas in a report on Friday, July 15th. Finally, Zacks Investment Research cut Carmike Cinemas from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 6th. Two equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $30.33.
The company’s 50-day moving average price is $31.76 and its 200-day moving average price is $30.53. The firm has a market cap of $797.49 million, a PE ratio of 654.00 and a beta of 1.37.
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Carmike Cinemas (NASDAQ:CKEC) last posted its earnings results on Monday, August 1st. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by $0.04. The firm had revenue of $204.70 million for the quarter, compared to analyst estimates of $209.35 million. Carmike Cinemas had a net margin of 0.15% and a return on equity of 3.65%. The company’s revenue for the quarter was down 6.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.36 earnings per share. On average, equities analysts anticipate that Carmike Cinemas Inc. will post $0.31 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently bought and sold shares of CKEC. Vivaldi Asset Management LLC purchased a new position in Carmike Cinemas during the first quarter worth about $3,797,000. BlackRock Institutional Trust Company N.A. raised its position in Carmike Cinemas by 2.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 654,377 shares of the company’s stock worth $19,657,000 after buying an additional 14,476 shares during the last quarter. JPMorgan Chase & Co. purchased a new position in Carmike Cinemas during the first quarter worth about $4,032,000. OMERS ADMINISTRATION Corp purchased a new position in Carmike Cinemas during the first quarter worth about $10,757,000. Finally, State Street Corp raised its position in Carmike Cinemas by 1.5% in the first quarter. State Street Corp now owns 399,645 shares of the company’s stock worth $12,002,000 after buying an additional 5,974 shares during the last quarter. 86.62% of the stock is owned by hedge funds and other institutional investors.
About Carmike Cinemas
Carmike Cinemas, Inc is a motion picture exhibitor company. The Company owns and operates theatres and screens. Its theatres are equipped to provide digital cinema. It owns, operates or has an interest in approximately 280 theatres with over 2,940 screens located in over 40 states. In addition, it has approximately 260 theatres with over 1,090 screens equipped for three dimension (3-D).
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