Cinemark Holdings Inc (NYSE:CNK) Now Covered by Analysts at Piper Jaffray Companies
Research analysts at Piper Jaffray Companies started coverage on shares of Cinemark Holdings Inc (NYSE:CNK) in a note issued to investors on Friday, MarketBeat reports. The firm set an “overweight” rating and a $44.00 price target on the stock. Piper Jaffray Companies’ target price would suggest a potential upside of 19.08% from the company’s previous close.
CNK has been the topic of several other reports. Credit Suisse Group cut 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 note on Thursday, June 22nd. Zacks Investment Research cut Cinemark Holdings from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. Moffett Nathanson cut 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. Royal Bank Of Canada increased their price objective on Cinemark Holdings from $45.00 to $47.00 and gave the company a “sector perform” rating in a research note on Monday, April 17th. Finally, MKM Partners reiterated a “buy” rating and issued a $50.00 price objective (up from $48.00) on shares of Cinemark Holdings in a research note on Wednesday, April 26th. Four investment analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the stock. Cinemark Holdings has an average rating of “Hold” and an average target price of $43.14.
Shares of Cinemark Holdings (NYSE CNK) traded up 0.35% during midday trading on Friday, reaching $36.95. The company’s stock had a trading volume of 883,998 shares. Cinemark Holdings has a one year low of $36.60 and a one year high of $44.84. The stock’s 50-day moving average is $38.23 and its 200-day moving average is $41.20. The company has a market capitalization of $4.28 billion, a P/E ratio of 15.79 and a beta of 1.03.
Cinemark Holdings (NYSE:CNK) last released its quarterly earnings results on Friday, August 4th. The company reported $0.44 EPS for the quarter, hitting the consensus estimate of $0.44. Cinemark Holdings had a return on equity of 20.98% and a net margin of 9.12%. The business had revenue of $751.20 million during the quarter, compared to analyst estimates of $751.72 million. During the same period last year, the business posted $0.46 earnings per share. The company’s quarterly revenue was up .9% on a year-over-year basis. On average, equities analysts expect that Cinemark Holdings will post $2.16 earnings per share for the current fiscal year.
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Hedge funds have recently bought and sold shares of the stock. FMR LLC boosted its stake in Cinemark Holdings by 17.5% in the second quarter. FMR LLC now owns 11,685,034 shares of the company’s stock worth $453,963,000 after buying an additional 1,742,861 shares in the last quarter. BlackRock Inc. boosted its stake 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 in the last quarter. Vanguard Group Inc. boosted its stake in Cinemark Holdings by 4.3% in the second quarter. Vanguard Group Inc. now owns 9,385,792 shares of the company’s stock worth $364,639,000 after buying an additional 382,700 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Cinemark Holdings by 2.7% in the second quarter. JPMorgan Chase & Co. now owns 6,095,192 shares of the company’s stock worth $236,798,000 after buying an additional 160,113 shares in the last quarter. Finally, Jennison Associates LLC boosted its stake 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 in the last quarter. 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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