Cinemark Holdings, Inc. (CNK) Receives Average Recommendation of “Hold” from Analysts
Cinemark Holdings, Inc. (NYSE:CNK) has been given an average recommendation of “Hold” by the thirteen analysts that are covering the stock. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $45.13.
Several research analysts have commented on the company. B. Riley reaffirmed a “buy” rating and set a $53.50 price target on shares of Cinemark Holdings in a research report on Tuesday, April 18th. MKM Partners reaffirmed a “buy” rating and set a $50.00 price target (up previously from $48.00) on shares of Cinemark Holdings in a research report on Wednesday, April 26th. FBR & Co lifted their price target on Cinemark Holdings from $42.00 to $46.00 and gave the stock an “outperform” rating in a research report on Friday, February 24th. Finally, Wedbush lifted their price target on Cinemark Holdings from $40.00 to $43.00 and gave the stock a “neutral” rating in a research report on Thursday, February 16th.
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In other news, EVP Michael Cavalier sold 13,055 shares of the business’s stock in a transaction that occurred on Wednesday, March 15th. The stock was sold at an average price of $44.03, for a total value of $574,811.65. Following the transaction, the executive vice president now owns 173,171 shares of the company’s stock, valued at $7,624,719.13. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Valmir Fernandes sold 6,000 shares of the business’s stock in a transaction that occurred on Friday, May 12th. The shares were sold at an average price of $43.53, for a total value of $261,180.00. Following the completion of the transaction, the insider now directly owns 85,505 shares in the company, valued at approximately $3,722,032.65. The disclosure for this sale can be found here. In the last three months, insiders sold 48,139 shares of company stock worth $2,115,894. Corporate insiders own 9.20% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in CNK. Parallel Advisors LLC bought a new position in Cinemark Holdings during the fourth quarter worth about $275,000. Ladenburg Thalmann Financial Services Inc. raised its position in Cinemark Holdings by 43.7% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,195 shares of the company’s stock worth $123,000 after buying an additional 972 shares during the last quarter. Manning & Napier Advisors LLC bought a new position in Cinemark Holdings during the third quarter worth about $2,485,000. Martingale Asset Management L P raised its position in Cinemark Holdings by 18.7% in the fourth quarter. Martingale Asset Management L P now owns 554,830 shares of the company’s stock worth $21,284,000 after buying an additional 87,358 shares during the last quarter. Finally, Nordea Investment Management AB raised its position in Cinemark Holdings by 2,069.7% in the third quarter. Nordea Investment Management AB now owns 301,824 shares of the company’s stock worth $11,554,000 after buying an additional 287,913 shares during the last quarter. 90.73% of the stock is currently owned by institutional investors and hedge funds.
Cinemark Holdings (NYSE:CNK) opened at 41.74 on Tuesday. The firm has a market cap of $4.83 billion, a P/E ratio of 17.61 and a beta of 0.97. The stock’s 50 day moving average is $43.23 and its 200 day moving average is $41.57. Cinemark Holdings has a 12-month low of $32.60 and a 12-month high of $44.84.
Cinemark Holdings (NYSE:CNK) last released its quarterly earnings results on Wednesday, May 3rd. The company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.61 by $0.07. The company had revenue of $779.60 million for the quarter, compared to analyst estimates of $750.75 million. Cinemark Holdings had a return on equity of 20.75% and a net margin of 8.06%. The firm’s revenue was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.50 earnings per share. On average, equities research analysts expect that Cinemark Holdings will post $2.38 EPS for the current year.
About Cinemark Holdings
Cinemark Holdings, Inc is engaged in the motion picture exhibition business with theatres in the United States (U.S.), Brazil, Argentina, Chile, Colombia, Peru, Ecuador, Honduras, El Salvador, Nicaragua, Costa Rica, Panama, Guatemala, Paraguay, Curacao and Bolivia. The Company manages its business in two segments: U.S.
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