Zacks Investment Research Upgrades Carmike Cinemas Inc. (CKEC) to “Hold”
Carmike Cinemas Inc. (NASDAQ:CKEC) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research 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. “
Several other equities research analysts also recently commented on the company. Wedbush reaffirmed a “neutral” rating and set a $33.00 target price on shares of Carmike Cinemas in a report on Thursday, September 22nd. B. Riley reissued a “neutral” rating and issued a $32.75 price objective on shares of Carmike Cinemas in a research note on Tuesday, August 2nd. One research analyst has rated the stock with a sell rating and seven have given a hold rating to the company. Carmike Cinemas presently has an average rating of “Hold” and an average price target of $30.83.
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Carmike Cinemas (NASDAQ:CKEC) traded up 0.30% during trading on Monday, reaching $33.10. The company had a trading volume of 273,431 shares. The company has a market capitalization of $807.24 million, a P/E ratio of 662.00 and a beta of 1.39. The stock has a 50 day moving average of $32.38 and a 200-day moving average of $30.82. Carmike Cinemas has a 12 month low of $18.52 and a 12 month high of $33.34.
Carmike Cinemas (NASDAQ:CKEC) last announced its earnings results on Monday, August 1st. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.14 by $0.04. Carmike Cinemas had a net margin of 0.15% and a return on equity of 3.65%. The company had revenue of $204.70 million for the quarter, compared to analysts’ expectations of $209.35 million. During the same period in the prior year, the company earned $0.36 earnings per share. The company’s revenue for the quarter was down 6.6% on a year-over-year basis. Equities research analysts expect that Carmike Cinemas will post $0.25 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Teacher Retirement System of Texas raised its position in shares of Carmike Cinemas by 14.0% in the second quarter. Teacher Retirement System of Texas now owns 3,437 shares of the company’s stock valued at $104,000 after buying an additional 423 shares during the last quarter. Barclays PLC raised its position in shares of Carmike Cinemas by 75.1% in the second quarter. Barclays PLC now owns 3,502 shares of the company’s stock valued at $106,000 after buying an additional 1,502 shares during the last quarter. Legal & General Group Plc raised its position in shares of Carmike Cinemas by 16.9% in the first quarter. Legal & General Group Plc now owns 4,040 shares of the company’s stock valued at $122,000 after buying an additional 583 shares during the last quarter. BlackRock Inc. raised its position in shares of Carmike Cinemas by 247.7% in the second quarter. BlackRock Inc. now owns 5,028 shares of the company’s stock valued at $151,000 after buying an additional 3,582 shares during the last quarter. Finally, Pacad Investment Ltd. purchased a new position in shares of Carmike Cinemas during the second quarter valued at $163,000. 86.62% of the stock is currently owned by institutional investors.
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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