Cinemark Holdings Inc (NYSE:CNK) Stock Rating Reaffirmed by B. Riley
Cinemark Holdings Inc (NYSE:CNK)‘s stock had its “buyl” rating reiterated by analysts at B. Riley in a research report issued on Monday.
Several other research firms have also recently issued reports on CNK. Barrington Research reduced their price objective on shares of Cinemark Holdings from $49.00 to $46.00 and set an “outperform” rating on the stock in a research report on Monday. Wedbush lifted their price objective on shares of Cinemark Holdings from $43.00 to $45.00 and gave the company a “neutral” rating in a research report on Tuesday, July 4th. Credit Suisse Group cut shares of Cinemark Holdings from a “neutral” rating to an “underperform” rating and reduced their price objective for the company from $38.00 to $34.00 in a research report on Thursday, June 22nd. Goldman Sachs Group, Inc. (The) cut shares of Cinemark Holdings from a “conviction-buy” rating to a “buy” rating and set a $49.00 price objective on the stock. in a research report on Monday, April 10th. Finally, Morgan Stanley reduced their price objective on shares of Cinemark Holdings from $43.00 to $40.00 and set an “underweight” rating on the stock in a research report on Thursday, July 6th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $43.28.
Shares of Cinemark Holdings (CNK) traded down 2.94% during trading on Monday, hitting $37.99. 1,716,100 shares of the stock were exchanged. Cinemark Holdings has a 52-week low of $36.08 and a 52-week high of $44.84. The firm has a 50 day moving average of $38.75 and a 200-day moving average of $41.35. The stock 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 released its quarterly earnings data on Friday, August 4th. The company reported $0.44 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.44. The firm had revenue of $751.20 million for the quarter, compared to analysts’ expectations of $751.72 million. Cinemark Holdings had a net margin of 9.12% and a return on equity of 20.98%. The company’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter last year, the business posted $0.46 earnings per share. Equities research analysts anticipate that Cinemark Holdings will post $2.21 earnings per share for the current fiscal year.
In related news, insider Valmir Fernandes sold 6,000 shares of the business’s stock in a transaction 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 sale, the insider now owns 85,505 shares in the company, valued at $3,722,032.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 9.10% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Chartwell Investment Partners LLC boosted its position in Cinemark Holdings by 225.9% in the fourth quarter. Chartwell Investment Partners LLC now owns 104,600 shares of the company’s stock worth $3,497,000 after buying an additional 72,500 shares during the period. Parallel Advisors LLC purchased a new position in Cinemark Holdings during the fourth quarter worth $275,000. Princeton Alpha Management LP boosted its position in Cinemark Holdings by 93.6% in the fourth quarter. Princeton Alpha Management LP now owns 43,434 shares of the company’s stock worth $1,452,000 after buying an additional 20,994 shares during the period. Schwab Charles Investment Management Inc. boosted its position in Cinemark Holdings by 5.8% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 431,405 shares of the company’s stock worth $14,422,000 after buying an additional 23,768 shares during the period. Finally, State Street Corp boosted its position in Cinemark Holdings by 1.9% in the first quarter. State Street Corp now owns 2,872,665 shares of the company’s stock worth $102,927,000 after buying an additional 52,616 shares during the period. 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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