B. Riley Analysts Give Cinemark Holdings Inc (CNK) a $48.00 Price Target
Cinemark Holdings Inc (NYSE:CNK) has been given a $48.00 price objective by research analysts at B. Riley in a report released on Saturday. The brokerage currently has a “buy” rating on the stock. B. Riley’s price target suggests a potential upside of 22.64% from the stock’s current price. B. Riley also issued estimates for Cinemark Holdings’ Q2 2017 earnings at $0.42 EPS, Q3 2017 earnings at $0.49 EPS, Q4 2017 earnings at $0.39 EPS, FY2017 earnings at $2.09 EPS, Q1 2018 earnings at $0.62 EPS, Q2 2018 earnings at $0.58 EPS, Q3 2018 earnings at $0.62 EPS, FY2018 earnings at $2.30 EPS and FY2019 earnings at $2.58 EPS.
A number of other analysts have also weighed in on CNK. Wedbush upgraded Cinemark Holdings from a “neutral” rating to an “outperform” rating and set a $44.00 target price for the company in a report on Wednesday, July 26th. ValuEngine upgraded Cinemark Holdings from a “hold” rating to a “buy” rating in a report on Friday, July 7th. Morgan Stanley lowered their target price on Cinemark Holdings from $43.00 to $40.00 and set an “underweight” rating for the company in a report on Thursday, July 6th. MKM Partners reiterated a “buy” rating and set a $50.00 price objective (up previously from $48.00) on shares of Cinemark Holdings in a report on Wednesday, April 26th. Finally, Goldman Sachs Group, Inc. (The) lowered Cinemark Holdings from a “conviction-buy” rating to a “buy” rating and set a $49.00 price objective for the company. in a report on Monday, April 10th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $43.30.
Shares of Cinemark Holdings (CNK) traded down 2.287% on Friday, reaching $38.245. The company’s stock had a trading volume of 340,933 shares. The firm has a market capitalization of $4.43 billion, a PE ratio of 16.137 and a beta of 1.03. The firm has a 50-day moving average price of $38.75 and a 200 day moving average price of $41.35. Cinemark Holdings has a one year low of $36.08 and a one year high of $44.84.
Cinemark Holdings (NYSE:CNK) last posted its earnings results on Friday, August 4th. The company reported $0.44 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.44. The company had revenue of $751.20 million during the quarter, compared to analyst estimates of $751.72 million. Cinemark Holdings had a return on equity of 20.98% and a net margin of 9.12%. Cinemark Holdings’s revenue was up .9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.46 earnings per share. On average, analysts anticipate that Cinemark Holdings will post $2.21 earnings per share for the current fiscal year.
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In related news, insider Valmir Fernandes sold 6,000 shares of the firm’s stock in a transaction on Friday, May 12th. The stock was 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 owns 85,505 shares in the company, valued at approximately $3,722,032.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 9.10% of the company’s stock.
A number of institutional investors have recently modified their holdings of the company. BlackRock Inc. raised its position in shares of Cinemark Holdings by 13,956.8% in the first quarter. BlackRock Inc. now owns 11,065,807 shares of the company’s stock worth $490,657,000 after buying an additional 10,987,085 shares during the period. FMR LLC raised its position in shares of Cinemark Holdings by 83.9% in the first quarter. FMR LLC now owns 9,942,173 shares of the company’s stock worth $440,836,000 after buying an additional 4,534,853 shares during the period. Vanguard Group Inc. raised its position in shares of Cinemark Holdings by 8.6% in the first quarter. Vanguard Group Inc. now owns 9,003,092 shares of the company’s stock worth $399,198,000 after buying an additional 714,887 shares during the period. BlackRock Fund Advisors raised its position in shares of Cinemark Holdings by 3.8% in the third quarter. BlackRock Fund Advisors now owns 6,672,060 shares of the company’s stock worth $255,406,000 after buying an additional 244,429 shares during the period. Finally, JPMorgan Chase & Co. raised its position in shares of Cinemark Holdings by 2.0% in the first quarter. JPMorgan Chase & Co. now owns 5,935,079 shares of the company’s stock worth $263,160,000 after buying an additional 118,492 shares during the period. Institutional investors own 88.96% of the company’s stock.
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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