Cinemark Holdings Inc (NYSE:CNK) Stock Rating Reaffirmed by Wedbush
Cinemark Holdings Inc (NYSE:CNK)‘s stock had its “buy” rating reaffirmed by analysts at Wedbush in a note issued to investors on Monday.
Several other research analysts have also weighed in on the stock. Credit Suisse Group lowered shares of Cinemark Holdings from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $38.00 to $34.00 in a research note on Thursday, June 22nd. Zacks Investment Research lowered shares of Cinemark Holdings from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. Royal Bank Of Canada upped their price objective on shares of Cinemark Holdings from $45.00 to $47.00 and gave the company a “sector perform” rating in a research note on Monday, April 17th. Moffett Nathanson lowered shares of Cinemark Holdings from a “neutral” rating to a “sell” rating and set a $33.00 price objective on the stock. in a research note on Monday, June 12th. Finally, Goldman Sachs Group, Inc. (The) lowered 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 note on Monday, April 10th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $43.30.
Shares of Cinemark Holdings (CNK) opened at 39.14 on Monday. The firm has a 50-day moving average of $38.75 and a 200 day moving average of $41.35. Cinemark Holdings has a 1-year low of $36.08 and a 1-year high of $44.84. The stock has a market capitalization of $4.53 billion, a PE ratio of 16.51 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 for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.44. The firm had revenue of $751.20 million for the quarter, compared to analyst estimates 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 in the prior year, the business earned $0.46 EPS. On average, equities analysts anticipate that Cinemark Holdings will post $2.21 earnings per share for the current fiscal year.
In other news, insider Valmir Fernandes sold 6,000 shares of the stock in a transaction on Friday, May 12th. The shares were sold at an average price of $43.53, for a total transaction 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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate 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. Advisors Asset Management Inc. increased its position in shares of Cinemark Holdings by 224.8% in the second quarter. Advisors Asset Management Inc. now owns 4,752 shares of the company’s stock valued at $185,000 after buying an additional 3,289 shares in the last quarter. Vident Investment Advisory LLC bought a new position in shares of Cinemark Holdings during the first quarter valued at about $200,000. Welch & Forbes LLC bought a new position in shares of Cinemark Holdings during the first quarter valued at about $210,000. Oppenheimer Asset Management Inc. bought a new position in shares of Cinemark Holdings during the first quarter valued at about $213,000. Finally, Smithfield Trust Co. increased its position in shares of Cinemark Holdings by 1.5% in the second quarter. Smithfield Trust Co. now owns 5,730 shares of the company’s stock valued at $223,000 after buying an additional 87 shares in 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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