Carmike Cinemas Inc. (CKEC) Stock Rating Upgraded by Zacks Investment Research
Carmike Cinemas Inc. (NASDAQ:CKEC) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Monday.
According to Zacks, “Carmike Cinemas is one of the largest motion picture exhibitors in the United States. Carmike targets small to mid-size non-urban markets. “
CKEC has been the subject of several other reports. Wedbush reiterated a “neutral” rating and issued a $33.00 target price on shares of Carmike Cinemas in a report on Thursday, September 22nd. B. Riley set a $32.75 price objective on Carmike Cinemas and gave the stock a “hold” rating in a research note on Thursday, July 28th. One equities research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. Carmike Cinemas has an average rating of “Hold” and an average target price of $30.83.
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Carmike Cinemas (NASDAQ:CKEC) traded up 0.30% during midday trading on Monday, hitting $33.10. The company’s stock had a trading volume of 273,431 shares. The company has a market cap of $807.24 million, a price-to-earnings ratio of 662.00 and a beta of 1.39. The company’s 50-day moving average is $32.38 and its 200 day moving average is $30.82. Carmike Cinemas has a one year low of $18.52 and a one year high of $33.34.
Carmike Cinemas (NASDAQ:CKEC) last issued its earnings results on Monday, August 1st. The company reported $0.10 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by $0.04. Carmike Cinemas had a return on equity of 3.65% and a net margin of 0.15%. The firm earned $204.70 million during the quarter, compared to analysts’ expectations of $209.35 million. During the same quarter in the prior year, the company posted $0.36 earnings per share. Carmike Cinemas’s quarterly revenue was down 6.6% compared to the same quarter last year. On average, analysts predict that Carmike Cinemas will post $0.25 EPS for the current year.
Large investors have recently added to or reduced their stakes in the stock. Nationwide Fund Advisors boosted its stake in Carmike Cinemas by 2.3% in the second quarter. Nationwide Fund Advisors now owns 18,014 shares of the company’s stock worth $543,000 after buying an additional 403 shares during the period. Teacher Retirement System of Texas boosted its stake in Carmike Cinemas by 14.0% in the second quarter. Teacher Retirement System of Texas now owns 3,437 shares of the company’s stock worth $104,000 after buying an additional 423 shares during the period. Legal & General Group Plc boosted its stake in Carmike Cinemas by 16.9% in the first quarter. Legal & General Group Plc now owns 4,040 shares of the company’s stock worth $122,000 after buying an additional 583 shares during the period. UBS Asset Management Americas Inc. boosted its stake in Carmike Cinemas by 5.5% in the second quarter. UBS Asset Management Americas Inc. now owns 11,500 shares of the company’s stock worth $346,000 after buying an additional 600 shares during the period. Finally, Schwab Charles Investment Management Inc. boosted its stake in Carmike Cinemas by 1.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 87,045 shares of the company’s stock worth $2,622,000 after buying an additional 1,482 shares during the period. Institutional investors own 86.62% of the company’s stock.
Carmike Cinemas Company Profile
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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