Cinemark Holdings Inc (CNK) Earns Buy Rating from Piper Jaffray Companies
Cinemark Holdings Inc (NYSE:CNK)‘s stock had its “buy” rating reaffirmed by Piper Jaffray Companies in a research report issued to clients and investors on Sunday.
Several other equities research analysts have also recently weighed in on the company. Credit Suisse Group cut Cinemark Holdings from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock 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. ValuEngine cut Cinemark Holdings from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. 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. Finally, Morgan Stanley reduced their price objective 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. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $43.06.
Cinemark Holdings (CNK) opened at 35.50 on Friday. The company has a market capitalization of $4.11 billion, a price-to-earnings ratio of 15.17 and a beta of 1.06. Cinemark Holdings has a 52-week low of $32.03 and a 52-week high of $44.84. The company’s 50-day moving average price is $35.41 and its 200 day moving average price is $39.79.
Cinemark Holdings (NYSE:CNK) last issued its quarterly earnings data on Friday, August 4th. The company reported $0.44 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.44. Cinemark Holdings had a return on equity of 20.98% and a net margin of 9.12%. The company had revenue of $751.20 million for the quarter, compared to analysts’ expectations of $751.72 million. During the same period in the previous year, the firm posted $0.46 earnings per share. The firm’s revenue for the quarter was up .9% on a year-over-year basis. On average, equities analysts expect that Cinemark Holdings will post $2.11 EPS for the current fiscal year.
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In other news, CEO Mark Zoradi acquired 5,000 shares of the company’s stock in a transaction that occurred on Friday, September 8th. The shares were bought at an average price of $32.19 per share, with a total value of $160,950.00. Following the completion of the purchase, the chief executive officer now directly owns 172,456 shares in the company, valued at $5,551,358.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 9.20% of the stock is owned by corporate insiders.
A number of large investors have recently made changes to their positions in the stock. Lord Abbett & CO. LLC bought a new position in Cinemark Holdings in the second quarter worth approximately $8,856,000. Public Employees Retirement System of Ohio grew its stake in Cinemark Holdings by 1.2% in the second quarter. Public Employees Retirement System of Ohio now owns 54,219 shares of the company’s stock worth $2,106,000 after purchasing an additional 626 shares in the last quarter. Kalos Management Inc. grew its stake in Cinemark Holdings by 2.2% in the second quarter. Kalos Management Inc. now owns 59,613 shares of the company’s stock worth $2,315,000 after purchasing an additional 1,281 shares in the last quarter. Ameritas Investment Partners Inc. grew its stake in Cinemark Holdings by 1.7% in the second quarter. Ameritas Investment Partners Inc. now owns 31,704 shares of the company’s stock worth $1,232,000 after purchasing an additional 530 shares in the last quarter. Finally, Nomura Holdings Inc. bought a new position in Cinemark Holdings in the second quarter worth approximately $641,000. 90.16% of the stock is currently owned by institutional investors.
Cinemark Holdings Company Profile
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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