Cinemark Holdings Inc (CNK) Price Target Cut to $46.00 by Analysts at Barrington Research
Cinemark Holdings Inc (NYSE:CNK) had its target price reduced by equities researchers at Barrington Research from $49.00 to $46.00 in a research note issued on Monday. The brokerage presently has an “outperform” rating on the stock. Barrington Research’s target price would indicate a potential upside of 21.08% from the company’s previous close.
CNK has been the topic of several other research reports. Wedbush upped their price target on Cinemark Holdings from $43.00 to $45.00 and gave the company a “neutral” rating in a research note on Tuesday, July 4th. Credit Suisse Group lowered Cinemark Holdings from a “neutral” rating to an “underperform” rating and decreased their price target for the company from $38.00 to $34.00 in a research note on Thursday, June 22nd. Morgan Stanley decreased their target price on Cinemark Holdings from $43.00 to $40.00 and set an “underweight” rating on the stock in a research note on Thursday, July 6th. Goldman Sachs Group, Inc. (The) lowered Cinemark Holdings from a “conviction-buy” rating to a “buy” rating and set a $49.00 target price on the stock. in a research note on Monday, April 10th. Finally, ValuEngine lowered Cinemark Holdings from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $43.28.
Cinemark Holdings (NYSE CNK) traded down 2.94% during mid-day trading on Monday, hitting $37.99. The stock had a trading volume of 1,716,100 shares. Cinemark Holdings has a one year low of $36.08 and a one year high of $44.84. The firm’s 50-day moving average price is $38.75 and its 200 day moving average price is $41.35. The company has a market cap of $4.40 billion, a PE ratio of 16.03 and a beta of 1.03.
Cinemark Holdings (NYSE:CNK) last issued its earnings results on Friday, August 4th. The company reported $0.44 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.44. The company had revenue of $751.20 million during the quarter, compared to analysts’ expectations of $751.72 million. Cinemark Holdings had a return on equity of 20.98% and a net margin of 9.12%. The firm’s quarterly revenue was up .9% on a year-over-year basis. During the same period in the prior year, the business earned $0.46 EPS. On average, equities research analysts anticipate that Cinemark Holdings will post $2.21 EPS for the current year.
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In other news, insider Valmir Fernandes sold 6,000 shares of the stock in a transaction dated Friday, May 12th. The stock was sold at an average price of $43.53, for a total value of $261,180.00. Following the transaction, the insider now owns 85,505 shares in the company, valued at approximately $3,722,032.65. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 9.10% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position in 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 last quarter. FMR LLC increased its position in 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 last quarter. Jennison Associates LLC increased its position in Cinemark Holdings by 32.9% in the second quarter. Jennison Associates LLC now owns 3,988,676 shares of the company’s stock worth $154,960,000 after buying an additional 988,361 shares during the last quarter. Mawer Investment Management Ltd. increased its position in Cinemark Holdings by 42.3% in the first quarter. Mawer Investment Management Ltd. now owns 3,256,308 shares of the company’s stock worth $144,385,000 after buying an additional 967,579 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in 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 last quarter. Institutional investors and hedge funds 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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